Quartiers secures EUR 18.5 million in financing at a reduced interest rate, freeing up cash flow for growth and allowing resumption of dividends on preference shares
Quartiers Properties AB (publ) (“Quartiers” or “the Company”) has in line with a previously communicated plan, refinanced the loan with DeShaw that the company took out in 2020 in connection with the outbreak of Covid-19 in Europe. The refinancing of the loan removes the obstacles preventing the Company from paying dividends on its preference shares. The new lender is Alteralia Real Estate Debt FI
Quartiers predicts strong housing market on the Costa del Sol and plans launch of 60 new build apartments in 2022
The housing market on the Costa del Sol, and in particular Marbella and the surrounding area, is expected to experience a sharp boost post Covid-19. This is largely due to the acceleration of digital developments being further fuelled by the Coronavirus pandemic, but also factors such as the region’s unique microclimate, schools and world-class healthcare, along with a growing global acceptance an
The Boho Club hotel and restaurant concept, established by Quartiers at one of its properties on Marbella’s Golden Mile, has been named Spain’s best luxury boutique hotel by the Spain Luxury Hotel Awards.
Boho Club has been included as a recommended restaurant in the 2021 Michelin Guide. The recommendation boosts the brand and is expected to attract more guests to both the restaurant and the hotel.
Over the weekend, newly eased restrictions were published for Andalusia, where Quartiers operates. The new guidelines make it easier to travel to Marbella and increase the permitted capacity in the hotel and restaurant sector in the region.
UK move to start vaccinations next week expected to boost hotel and restaurant revenues and property sales on Spain’s Costa del Sol
The UK announced today that the country plans to begin vaccinating against Covid-19 next week. Quartiers’ CEO Marcus Johansson Prakt considers it particularly positive that the UK is the first country to approve the Covid-19 vaccine following extensive trials.
Quartiers, listed on Nasdaq First North in Stockholm, has adapted its operations on the basis of the new restrictions from the Spanish government, and has decided to keep its Boho Club (luxury hotel and restaurant on the Golden Mile in Marbella) facilities and the Quartiers Marbella Apartments hotel open.
The net asset value of Quartiers Properties, a property company with operations in Spain, continues to rise. The increase compared to year-end 2018 amounts to 11 percent, and the net asset value per ordinary share is now stated at SEK 8.26. The share is thus being traded at a net asset value discount of 48.7 percent, given the closing price on 27 February 2020.
Quartiers Properties VD Marcus Johansson Prakt deltog på Aktiedagen i Göteborg den 23 september.
Marcus Johansson Prakt took on the role of permanent CEO of Quartiers Properties earlier in September, and today the company is presenting its new management team. “This management team will allow us every opportunity to continue to grow. It’s a group of extremely experienced and talented individuals who complement one another well,” said Marcus Johansson Prakt, CEO of Quartiers Properties.