• The retail specialist was among the top performers in Europe’s most prestigious real estate awards.
• The EPRA BPR Gold Award recognises Castellana Properties’ transparent approach to financial reporting available to its main stakeholders.
Madrid, 5 October 2021.- Castellana Properties, a leading real estate firm listed on the BME Growth exchange and a specialist in the acquisition, management and refurbishment of retail properties, has achieved an EPRA Best Practices Recommendations (BPR) Gold Award in its third year of participation in the scheme, in a ringing endorsement of its transparent financial reporting. The awards were introduced to recognise and commend the efforts of real estate companies exemplifying successful adoption of EPRA (European Public Real Estate Association) guidelines for financial and non-financial reporting.
Having achieved an EPRA BPR Silver Award in both 2019 and 2020, Castellana Properties has now won gold in what is only its third year of participation. A total of 181 companies took part in this year’s edition of the European real estate sector’s most prestigious awards, nine of which are based in Spain. Among participating Spanish firms, 55% made it to the top category – a testament to the Spanish real estate and retail sector’s notable commitment to information transparency.
The assessment looks at EPRA ratios for financial information reported to stakeholders, including EPRA NAV, EPRA Earnings, Net Initial Yields, Vacancy Rate, Cost Ratios and a breakdown of rental growth. This year a number of new variables were introduced for the first time, including various NAVs (NRV, NTA, NDV), and a CAPEX breakdown, as well as a new scoring system. Companies like Castellana Properties that obtained a score of 80% or higher were commended with a Gold Award.
Debora Santamaría, CFO of Castellana Properties, said “It is a source of great pride to have received the sector’s highest accreditation after just three years. Castellana Properties has always placed great value on transparency and good practices as the foundation of our success and investor satisfaction. The results of recent years confirm that we are on the right track. Castellana Properties is a young, rapidly developing company that has succeeded in maintaining a stable and continuous rate of growth. metropolisToday, our portfolio is valued at approximately €1,000 million and we have no plans to stop growing and seeking out new opportunities in the market. Our focus, as always, will remain on top-performing shopping centres and retail parks in regional Spanish cities.”