Drago’s new Socimi, Azaria Rental, listed on the Alternative Stock Market MAB

Azaria Rental Socimi, a company managed by Drago Capital has been listed on the Alternative Stock Market (MAB) in the REITs section (SOCIMIs, in Spanish).

The market value of Azaria Rental Socimi has been set at 44.9 million euros. The company is listed under the ticker “YAZR”. Azaria Rental Socimi owns a mixed use office/industrial campus of 5 building located in Madrid at c/Miguel Yuste 40.  The campus benefits from a long term lease expiring 2033 with ‘El País’ (Grupo PRISA). Azaria is managed by Drago, a real estate investment and asset management firm that operates in Iberia and the United States. The firm was founded in 2001 by a group of renowned domestic and international professionals specialized in the real estate sector. Drago is based in Madrid, Lisbon and just recently opened its US offices in Miami.

Azaria is the third SOCIMI launched by Drago that is listed on the Alternative Stock Market (MAB)

All company information can be found on the Azaria Rental Socimi website.
Francisco Silvela, Managing Director at Drago, said: “Azaria’s strategy aims at creating a real estate investment vehicle seeking expected annual return around 4-5% derived from long dated triple net lease contracts”.

Silvela further added: “The company is constantly seeking new investment opportunities in line with our assets portfolio, in order to enhance the shareholders’ return while further diversifying our sources of revenue by tenants and asset type. Azaria manages a portfolio over Euro 200 million after recent acquisition”