Santo Domingo, D.N. – Popular Trust, a subsidiary of the Popular Group, launched the Public Offering Trust of Real Estate Values G-Patio02 – Patio de la Colombia –, which will place variable rental real estate values for a nominal amount exceeding US$21.1 million, destined for the general public and with a maturity date up to October 21, 2044.
This trust was approved by the Superintendency of the Securities Market on November 15, 2022, with the numbering R-SIMV-2022-36- FOP and registered in the Securities Market Registry under the number No. SIVFOP-009.
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This is the sixth public offering trust that has the advice of the Investment Banking team of the Popular Dominican Bank, of a total of eight public offering trusts placed in the Dominican market from private capital.
The asset that supports the new public offering trust is the two-level shopping center Patio de la Colombia, located on Republic of Colombia Avenue, in Santo Domingo, with a total area of 7,532 square meters, which includes 33 commercial premises and seven advertising spaces.
Investors will be able to benefit from quarterly returns based on the rents generated by the commercial plaza, which currently has a 94.6% occupancy rate. In addition, any appreciation of the value of the assets over time will contribute to these returns, without offering a fixed return, which reinforces the nature of variable income investment.
In May 2024, the trust received an Afo (N) rating, supported by a robust management structure and a high-quality tenant portfolio.
The asset is managed by Patio Capital Partners, a specialized company in the structuring and administration of real estate assets, with 10 years of experience in the sector and experience managing Real Estate Public Offering Trusts.
A new milestone for the Popular Group
This is a new milestone for the Popular Group, which strengthens the development of the securities market in the Dominican Republic.
On the one hand, the Investment Banking team of the Popular Dominican Bank acted as advisor to the trustee, while Popular Trust is the trust administrator. On the other hand, Popular Investments acts as the placement agent or stock exchange, guaranteeing the firm placement of the issue, and through which the available shares can be acquired in the secondary market for interested parties.
Mr. Manuel E. Jiménez F., executive president of the Popular Group, explained that “the structuring of this investment alternative demonstrates the experience and leadership of the Popular Group in inserting dynamism in the securities market, offering investment options for different types of clients and strengthening the real estate market”.
credits of the images of this post: Deultimominuto.net
