Ktesios acquires Quid Pro Quo Rent Insurance for 12.9 million


Ktesios takes another step in its growth. The socimi specialized in investing in affordable rental residential assets in non-prime areas, has announced its decision to exercise the purchase options on 99.93% of the shares of Quid Por Quo Alquiler Seguro for 12.9 million euros .

In order to acquire the full share capital of QPQ, Ktesios has issued a purchase order for 0.07% in the market, at a price of 1.25 euros per share.

With this move, Ktesios advances in its expansion strategy with the aim of becoming a market benchmark in the residential sector and the promoter of small-scale REITs in Spain. The aim is to achieve efficiencies and offer higher returns to its investors compared to what a micro-socimi could offer.

With the QPQ assets, the volume of assets under management (AUM) of the Ktesios portfolio will exceed 60 million euros. The company plans to merge both Socimis in the second half of 2023.

With QPQ assets, the volume of assets under management (AUM) of the Ktesios portfolio will exceed 60 million euros “We want to be the catalyst for the integration process of micro-socimis. The market considers that there must be a consolidation of this type of company to generate attractive returns, since a Socimi of less than 50 million euros is less efficient and does not generate the necessary profitability for its shareholders”, says Henry Gallego, CEO of Ktesios Socimi.

Gallego adds that “this operation, the first of its kind in Spain, has allowed us to acquire assets with high short-term revaluation potential. Our objective is to sell these assets in a period of between 24 and 36 months to reinvest in our core, which is affordable rentals in non-prime towns with high development potential. We hope that with this asset rotation we can generate substantial capital gains”.

The acquisition, which occurs after the announcement of the offer to subscribe options on the shares of Quid Pro Quo Alquiler Seguro published on February 14, 2023, will be carried out within the aforementioned period, that is, before June 30, 2023. After this transaction, Ktesios will continue to focus on providing access to quality housing and stimulating the economy in areas far from the main urban centers, which have favorable microeconomics and great upside potential.

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