Ktesios, the leading SOCIMI in investment in affordable rental residential assets in non-prime areas, continues to expand its portfolio with the acquisition from Unicaj of more than 80 assets in the province of Toledo with a market value of more than 3.6 million euros. In this way, Ktesios continues with its strategy of identifying and focusing on investment opportunities in affordable rental housing in non-prime areas with favorable microeconomics and ample revaluation potential.
The assets acquired are located in the municipalities of Toledo (Azucaica district), Borox, Cabañas de la Sagra, Fuensalida, Villaseca de la Sagra and Yuncler and include 52 homes and 29 assets for other uses. With this acquisition, Ktesios’ asset portfolio now totals more than 600 properties, and RKS AM, its servicer, has more than 850 properties under management, approaching its goal of reaching 1,000 homes by the end of the year.
This transaction follows the recent capital increase by cash contribution and issuance of new shares for a value of more than 3 million euros.
“Ktesios’ business model, which specializes in investing in non-prime locations with favorable microeconomics, benefits from high sector and economic decorrelation due to its consideration as a basic need, as well as low competition, thus combining the trinomial of high profitability, low risk and social impact. With this purchase, Ktesios SOCIMI continues with its strategic plan for organic growth and remains committed to addressing the growing need for affordable rental properties in non-prime areas of Spain,” said Henry Gallego, CEO of Ktesios SOCIMI.
Since the IPO of Ktesios in June 2021, which is listed on Euronext Lisbon, the share price has risen by more than 18%, reaching a record high of 14.40 euros per share, while revenue has increased by 96%. The investment vehicle offers a gross yield of more than 10%, well above comparable vehicles.
Founded in 2019, Ktesios is a purely residential SOCIMI specialized in the acquisition and management of assets in non-prime areas, offering affordable long-term rentals. In this way, Ktesios facilitates access to quality housing and contributes to boosting the economy of small towns with great potential.
Founded in 2019, Ktesios is a purely residential SOCIMI specialized in the acquisition and management of assets in non-prime areas, offering affordable long-term rentals. In this way, Ktesios facilitates access to quality housing and contributes to boosting the economy of small towns with great potential.
About Ktesios SOCIMI
Founded in 2019, Ktesios is a purely residential SOCIMI specialized in the acquisition and management of assets in non-prime areas, offering affordable long-term rentals. In this way, Ktesios combines the trinomial of profitability, risk and social impact. The SOCIMI has a patrimonialist and prudent management approach, aimed at investors seeking stability with recurring returns. The SOCIMI currently has a diversified portfolio of more than 520 assets in more than 21 municipalities and 9 provinces. The SOCIMI is supported by an efficient delegated management through RKS-AM.