ARGIS lists BBVA’s Bilbao headquarters on the stock exchange today

ARGIS, the Spanish real estate investment platform, has listed the building housing BBVA’s headquarters in Bilbao on the Portfolio Stock Exchange as of today, June 27. The property, located at 12 Gran Vía, along with 167 parking spaces, was purchased from the Mutualidad de la Abogacía for 150 million euros in July 2022.

This building, known as AOFI SHENI Socimi S.A., is the sole asset of a newly incorporated Socimi and enters the stock exchange with a capitalization of 61.5 million euros and a share price of 123 euros. The property, constructed in 1923, spans 21,093 square meters across seven floors, a ground floor, and two basements, and is leased to BBVA until 2045. The parking spaces are located at Calle Ledesma 15, Calle Henao 5, and Calle Uribitarte 13.

Abbaco Markets, advising on the Socimi’s market incorporation, highlights the Portfolio Stock Exchange’s process efficiency. Virginia García-Trevijano of Abbaco Markets predicts 2024 will be pivotal for real estate investment recovery.

As of the end of 2023, there were 116 listed Socimis, with the majority having a market capitalization of less than 100 million euros at incorporation.

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