Lar Espana

According to the web, Vukile is a South-African fund that is already present in Spain as the main shareholder of Castellana Properties, another SOCIMI⁴⁵. Vukile entered Lar Espana in January 2022, when it bought a 21.7% stake from Pimco, a US investment firm, for €97 million through Castellana Properties³⁵. Since then, Vukile has increased its stake in Lar Espana to over 25%, taking advantage of the weakness of the sector in the stock market². Vukile is reportedly analyzing a takeover bid on Lar Espana, which could value the company at around €800 million, according to newspapers such as Expansión and El Confidencial⁴⁵. This would imply a price of around €9.7 per share, which is almost twice the current market value of Lar Espana¹. However, the takeover bid is not confirmed yet, and it could face some regulatory and legal hurdles, as well as the opposition of other shareholders of Lar Espana⁴⁵.

I searched the web for is Lar Espana good investment and found some results. According to the web, Lar Espana is a pure-play retail Spanish REIT that focuses on investment in real estate assets throughout Spain, mainly in the retail sector²³. Lar Espana has a dividend yield of 6.5-8%, and a net asset value (NAV) per share of €10.8, which is significantly higher than its current market price of €4.6¹⁵. Lar Espana also has a low debt ratio of 34%, and a high occupancy rate of 95.6%¹. Lar Espana is facing some challenges due to the COVID-19 pandemic, the e-commerce competition, and the regulatory uncertainty in Spain¹. However, Lar Espana is also implementing some strategies to improve its portfolio quality, such as selling non-core assets, renovating existing assets, and diversifying into other segments such as logistics and residential¹². One source¹ argues that Lar Espana is a BUY target and can be added to the portfolio strategy of dividend hunters and deep value REIT investors, as it has a lot of hidden value that can be extracted within a couple of years, and a potential return of 25-30%¹. However, this is not a financial advice, and you should do your own research before investing in any stock.

I searched the web for Merlin Properties' NAV compare to its competitors and found some results. According to the web, Merlin Properties is the largest and most diversified SOCIMI (Spanish REIT) in the Iberian Peninsula, with a NAV per share of €15.56 as of March 31, 2021³. Merlin Properties' NAV per share has increased by 1.4% since December 31, 2020, reflecting the recovery of the real estate market and the quality of its portfolio³. Merlin Properties' NAV per share is also higher than its current market price of €9.255, implying a discount of 40.5%¹.

Some of the main competitors of Merlin Properties in the Spanish REIT market are:

- Colonial, a SOCIMI that focuses on prime office properties in Barcelona, Madrid, and Paris, with a NAV per share of €11.12 as of June 30, 2021. Colonial's NAV per share has increased by 1.6% since December 31, 2020, and is higher than its current market price of €8.8, implying a discount of 20.8%.

- Lar Espana, a SOCIMI that focuses on retail properties throughout Spain, with a NAV per share of €10.8 as of June 30, 2021. Lar Espana's NAV per share has increased by 2.9% since December 31, 2020, and is higher than its current market price of €4.6, implying a discount of 57.4%.

- Aedas Homes, a SOCIMI that focuses on residential development in Spain, with a NAV per share of €34.4 as of June 30, 2021. Aedas Homes' NAV per share has increased by 4.2% since December 31, 2020, and is higher than its current market price of €24.8, implying a discount of 27.9%.

These are some of the examples of the NAV of Spanish REITs, but there are many other SOCIMIs in the market, each with different characteristics and strategies⁴⁵⁶. You can find more information about them on their websites or on other sources.

Allikas: vestlus Bingiga, 14/02/2023(1) MERLIN Properties begins the year in line with its forecast. https://www.merlinproperties.com/en/merlin-properties-begins-the-year-in-line-with-its-forecast/ Vaadatud 14/02/2023.

(2) MERLIN Properties consolidates its recovery with strong results. https://www.merlinproperties.com/en/merlin-properties-consolidates-its-recovery-with-strong-results/ Vaadatud 14/02/2023.

(3) An Introduction To Spain's Number 1 REIT: Merlin Properties. https://seekingalpha.com/article/4188682-introduction-to-spains-number-1-reit-merlin-properties Vaadatud 14/02/2023.

(4) A Guide to Spanish REITs — SOCIMIs | Insights | Jones Day. https://www.jonesday.com/en/insights/2016/12/a-guide-to-spanish-reits--socimis Vaadatud 14/02/2023.

(5) Spanish REIT – Updates on the Iberian & LatAm property market, with a .... https://spanishreit.com/ Vaadatud 14/02/2023.

(6) The Share - MERLIN Properties. https://www.merlinproperties.com/en/investors/the-share/ Vaadatud 14/02/2023.

Allikas: vestlus Bingiga, 14/02/2023(1) Lar Espana Stock: This Pure-Play Spanish REIT Is A Buy (LAREF). https://seekingalpha.com/article/4482922-lar-espana-pure-play-retail-spanish-reit-buy Vaadatud 14/02/2023.

(2) Lar España | Lar España. https://www.larespana.com/en/lar-espana-2/ Vaadatud 14/02/2023.

(3) Lar Espana Stock: This Pure-Play Spanish REIT Is A Buy (LAREF). https://bing.com/search?q=is+Lar+Espana+good+investment Vaadatud 14/02/2023.

(4) Is Lar Espana Stock a good investment? LRE.MC - 4.60 Up 0.22%. https://www.macroaxis.com/stock/LRE.MC/Lar-Espana-Real Vaadatud 14/02/2023.

(5) Acciones Lar España | Cotización BME:LRES hoy - Investing.com. https://es.investing.com/equities/lar-espana-real-estate-socimi-sa Vaadatud 14/02/2023.

Allikas: vestlus Bingiga, 14/02/2023(1) Lar Espana Stock: This Pure-Play Spanish REIT Is A Buy (LAREF). https://seekingalpha.com/article/4482922-lar-espana-pure-play-retail-spanish-reit-buy Vaadatud 14/02/2023.

(2) Lar España | Lar España. https://www.larespana.com/en/lar-espana-2/ Vaadatud 14/02/2023.

(3) Lar Espana Stock: This Pure-Play Spanish REIT Is A Buy (LAREF). https://bing.com/search?q=is+Lar+Espana+good+investment Vaadatud 14/02/2023.

(4) Is Lar Espana Stock a good investment? LRE.MC - 4.60 Up 0.22%. https://www.macroaxis.com/stock/LRE.MC/Lar-Espana-Real Vaadatud 14/02/2023.

(5) Acciones Lar España | Cotización BME:LRES hoy - Investing.com. https://es.investing.com/equities/lar-espana-real-estate-socimi-sa Vaadatud 14/02/2023.

I searched the web for main competitors for lar espana and found some results. According to the web, some of the main competitors for Lar Espana are:

- Provident Realty, a US-based real estate company that develops, acquires, and manages multifamily and mixed-use properties¹.

- Weingarten Realty Investors, a US-based REIT that owns, manages, and develops shopping centers and other commercial properties¹.

- Grand City Properties, a Luxembourg-based REIT that focuses on residential properties in Germany and other European countries¹.

- Merlin Properties, a Spanish-based SOCIMI that is the largest real estate company in Spain, with a diversified portfolio of office, retail, logistics, and hotel assets¹².

Allikas: vestlus Bingiga, 14/02/2023(1) Top Lar Espana Competitors and Alternatives | Craft.co. https://craft.co/lar-espana/competitors Vaadatud 14/02/2023.

(2) Lar Espana - Headquarters Locations, Products, Competitors, Financials .... https://www.cbinsights.com/company/lar-espana Vaadatud 14/02/2023.

(3) Lar Espana Real Estate SOCIMI - Overview, News & Competitors | ZoomInfo.com. https://www.zoominfo.com/c/lar-espana-real-estate-socimi-sa/367529223 Vaadatud 14/02/2023.

Allikas: vestlus Bingiga, 14/02/2023(1) Vukile plans to launch a takeover bid on Lar España. https://www.iberian.property/news/archive/vukile-plans-to-launch-a-takeover-bid-on-lar-espana/ Vaadatud 14/02/2023.

(2) Vukile Looking to Launch Takeover of Lar España. https://www.auraree.com/real-estate-news/vukile-looking-to-launch-takeover-of-lar-espana/ Vaadatud 14/02/2023.

(3) El fondo Vukile compra un 21% de Lar España a Pimco. https://www.expansion.com/inmobiliario/mercado/2022/01/26/61f19c86468aeb42088b464c.html Vaadatud 14/02/2023.

(4) Vukile se refuerza en Lar España hasta el 24% del capital | EjePrime. https://www.ejeprime.com/comercial/vukile-se-refuerza-en-lar-espana-hasta-el-24-del-capital.html Vaadatud 14/02/2023.

(5) Vukile plans to launch a takeover bid on Lar España. https://bing.com/search?q=Vukile+takeover+bid+Lar+Espana Vaadatud 14/02/2023.