Star Residence Invest, the first REIT in Romania, net profit of 337,000 lei on revenues of 612,000 lei in the first half of the year

impact, star residence invest Sursă foto: Impact SA

Star Residence Invest, the first REIT (Real Estate Investment Trust) on the Romanian market, founded by the developer Impact towards the end of last year and listed on the Stock Exchange, achieved a turnover of 612,000 lei and a net profit of 337,665 lei in the first 6 months of this year. In other words, a profit margin of over 50%.

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The company owns 14 apartments and 26 car parks in residential projects developed by Impact. Star Residence Invest has assets of 11.9 million lei, up 2% since the beginning of the year.

The REIT has 1.9 million lei in debt, which finances almost 19% of the investor’s activity.

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According to data from the Stock Exchange, Star Residence Invest’s largest shareholder is BRK Financial Group with 23.9%, Impact with 22.3%, an individual shareholder with 13.1% and other small shareholders who together hold 40% of the company’s shares.

Star Residence Invest is a SPV (Special Purpose Vehicle) developed by Impact Contractor & Developer, which operates on the basis of strategies and principles similar to those of REITs abroad and aims to raise capital for the purchase of residential properties, suitable for rental, particularly in the main university centers of Romania, such as Bucharest, Iasi, Cluj, Timisoara or Constanta.

Edited for English by: Service For Life SRL