Focus on MIMCO Capital's figures: A dynamic 2019 second half-year in Germany and a strong growth in Luxembourg
Following a very dynamic 2nd semester 2019, MIMCO Capital takes stock of the current situation and presents an overview of its real estate indicators which demonstrate the successful implementation of the group's investment strategy.
With 32 million EUR raised in equity from its historical shareholders and new investors in Europe and with an acquisition volume of more than 80 million EUR of real estate investments for nearly 78,000 sqm of surface area, "core" assets with medium to long-term cash flow stability accounted for nearly 40% of the investments; "value added" transactions, which benefit from a much higher valuation potential, represent more than 60% of the volume invested during the 2nd half-year 2019.
Thanks to its in-depth knowledge of the German and Luxembourgish markets, MIMCO Capital remains focused on positioning itself to continue to create value on medium-term assets to ensure appropriate capital gains and a fair redistribution among shareholders. This is why 86% of its investments remain focused on Germany and 14% on Luxembourg. Investments in Luxembourg are expected to evolve over the coming six months.
In terms of investment strategy, the MIMCO Capital group has focused on assets with high potential for value creation through investments in buildings intended primarily for retail (85.50%) and office (10.36%) use requiring major restructuring.
Christophe Nadal, co-founder and CEO of MIMCO Capital says: "We have made substantial investments in Germany and we will significantly increase our investments in Luxembourg, accompanied by new investors. New deals in exceptional locations are being finalized for the 1st semester of 2020.”
""We are very pleased with our results, both in terms of collections and investments. Our indicators show that the objectives we set ourselves have been largely met and even exceeded", Bernd von Manteuffel, also co-founder and CEO of MIMCO Capital, added.
We would like to thank all our partners, shareholders and employees for their commitment and trust.
We will do our utmost to achieve even more significant results in the first half of 2020, by continuing to identify investment opportunities in value added assets that need to be revitalized and that offer strong potential for value creation, with a great deal of rigor in the selection of locations.