In the second quarter of 2024, the portfolio of KEDIPES, a company specialising in asset management, saw a total value of €111.7 million transferred to real estate.
It is worth noting that compared to the first quarter of 2024, the figures fell by a record 22%. On the other hand, year-on-year growth was 9%. In turn, the total cash inflow for the first half of the year was €256 million.
KEDIPES' cumulative cash inflows since inception (9 January 2018 to 31 December 2023) amounted to €2,359 million. Operating and asset management expenses in the second quarter of 2024 decreased by 9% compared to the first quarter of 2024, but increased by 2.5% compared to the second quarter of 2023.
Annual income from loan and property management in 2023 amounts to € 2,229 million, or 27.7% of the nominal value of the loan and property portfolio of € 8,051 million as at 9 January 2018.
There was a lot of interest from buyers, which helped doValue promote medium-liquidity properties.
The total proceeds from selling properties through it came to €185.8 million in the second quarter of 2024, compared to €94.3 million in the first quarter of 2024 and €189.5 million in the second quarter of 2023.
From the start of KEDIPES to the second quarter of 2024, we've seen a total of €4.2 billion in cash inflows, which is 57% of the original loan balance of €7.37 billion.
By the end of the second quarter of 2024, the total value of our assets had risen to €6.3 billion. This included €152 million in cash, €411 million in real estate and €663 million in serviced loans.
From the start of operations to the second quarter of 2024, the cumulative leverage was 23%. If you exclude interest capitalisation, the total leverage since the start of operations was 42%..