Press Releases

Quartiers Properties’ press releases are always available first in Swedish, whereafter they are translated into English. Click here to see Swedish press releases.

ALL PRESS RELEASES

Quartiers Properties publishes final outcome of exchange offer

The Annual General Meeting of Quartiers Properties AB (publ) (“Quartiers Properties”, or “the Company”) on 26 June 2020 resolved, among other matters, on an offer to holders of the Company’s preference shares regarding the exchange of preference shares for newly issued ordinary shares and share warrants (“the Offer”). The final outcome of the Offer is…

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Half-year Report Quartiers Properties – January to June 2020

Quartiers Properties AB (publ) has today published the company’s half-year report for the January–June 2020 period. 

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Quartiers Properties obtains a loan of EUR 17 million and secures its cash position

Quartiers Properties AB (publ) (”Quartiers Properties” or the ”Company”) has entered into a loan agreement with the lenders DESALKIV Portfolios, L.L.C. and Alantra under which the Company obtains a loan of a total of EUR 17 million (the ”Loan”). 

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Report from the Annual General Meeting of Quartiers Properties AB (publ), 26 June 2020

Quartiers Properties AB (publ) held its Annual General Meeting for the 2019 financial year on Friday 26 June, 2020. The following main decisions were made. 

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Quartiers Properties’ 2019 Annual Report published

The 2019 Annual Report has been published and is now available at www.quartiersproperties.se.

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Reopening of Boho Restaurant

In accordance with the Spanish government regulations, restaurants can now reopen after being closed during the lockdown. The reopening plan that has been launched is divided into various phases, and the Spanish government is planning to gradually reduce the restrictions in the country, depending on how the Corona pandemic develops. 

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Notice to attend the Annual General Meeting of Quartiers Properties AB (publ)

The shareholders of Quartiers Properties AB (publ), corp. reg. no 556975-7684, are hereby invited to attend the Annual General Meeting on Friday 26 June 2020, at 10:00 a.m., at the offices of Advokatfirman Wåhlin AB at Engelbrektsgatan 7, Stockholm, Sweden.

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The Board of Quartiers proposes an exchange of preference shares for ordinary shares and that the AGM resolve not to pay dividends on preference shares

Owing to the uncertainty resulting from the coronavirus pandemic and in order to meet the market-based terms for loan financing in the current situation, the Board of Quartiers Properties AB (publ) (“Quartiers” or “the Company”) proposes that the AGM resolve not to pay a dividend on the Company’s preference shares. Instead, a voluntary exchange is…

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Under the current circumstances Quartiers is rescheduling the date of the AGM and is exploring financing possibilities in addition to proposals for resolutions regarding dividends on preference shares

Quartiers Properties AB (publ) (“Quartiers” or “the Company”) is currently endeavouring to optimise its business operations based on the new conditions caused by the ongoing pandemic, and is reviewing a range of different financing options. The Company intends to find solutions that ensure the Company can meet its commitments in both the short and long…

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Quartiers Properties makes payment on preference shares with a record date of 31 March 2020 as planned

Quartiers Properties AB (publ) (“Quartiers” or “the Company”) will make the planned payment on preference shares with a record date of 31 March 2020 as planned. The payment date is estimated to be 3 April 2020.

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Follow-up on previous communication regarding SARS-CoV-2 (the novel coronavirus)

On Sunday 15 March, Quartiers Properties AB (publ) (“Quartiers” or “the Company”) issued a press release on account of the ongoing coronavirus pandemic. In it, the company explained the measures it had taken and laid out the next step. Here is another update.

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Update with regard to the coronavirus

Quartiers Properties AB (publ) (“Quartiers” or “the Company”) operates in the Marbella region of the Spanish Costa del Sol and, in the same way as the rest of the world, is currently experiencing the effects of the global coronavirus pandemic. During the weekend, for example, the Spanish Government introduced extraordinary restrictions limiting the freedom of movement…

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Quartiers Properties year-end report – January to December 2019

Quartiers Properties AB (publ) (“Quartiers Properties” or “the Company”) has today published the company’s year-end report for period January–December 2019. 

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Quartiers Properties rights issue 124.7% subscribed, generating approximately SEK 25.5 million for the company

The Board of Directors of Quartiers Properties AB (publ) (hereinafter “Quartiers Properties” or “the Company”) is hereby publishing the outcome of the Company’s rights issue. Subscriptions were received corresponding to a total of SEK 31.8 million, which means that the rights issue was oversubscribed and that the Company will receive the entire issue proceeds of…

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Quartiers Properties switches from Mangold to ABGSC to serve as market maker for the Company’s common stock

Quartiers Properties AB (publ) (”Quartiers Properties” or the ”Company”) has signed a contract with the Nordic investment bank ABGSC to serve as market maker for the Company’s ordinary share. ABGSC will serve as market maker beginning on 1 January 2020. 

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Quartiers Properties is publishing an information brochure in connection with the ongoing Rights Issue, and is announcing a new assessed net asset value of SEK 8.46 per ordinary share

The Board of Directors of Quartiers Properties AB (publ) (hereinafter “Quartiers Properties” or “the Company”) is hereby publishing an information brochure in connection with the ongoing Rights Issue of preference shares. The brochure contains preliminary profit figures for the period January–November 2019 which, together with the changes in value for the year, provide a new…

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Quartiers has received new valuations of its portfolio for year-end 2019 that indicate an increase in value of approx. EUR 17.3 million, with Boho Club accounting for the single largest change

Quartiers Properties AB (publ) contracted CBRE Spain to carry out a valuation of the company’s property portfolio for year-end 2019. The new valuation of the entire property portfolio amounts to approximately EUR 80.3 million, corresponding to an increase of EUR 17.3 million (27.5%) compared with December 2018. The increase in value above the investments made…

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Quartiers is carrying out a rights issue of approx. SEK 25.5 million by issuing new preference shares at a subscription price of SEK 9.15 per share, corresponding to a yield of around 10.5%.

The Board of Quartiers Properties AB (publ) (‘Quartiers Properties’ or ‘the Company’) has taken the decision to carry out a new share issue, with preferential rights for existing shareholders (irrespective of share class) of up to 2,786,875 preference shares. In the event of full subscription this would generate total issue proceeds of approximately SEK 25.5…

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Quartiers Properties is entering an agreement with London-based JLL and starting a process to refinance the company’s balance sheet liabilities to improve the Group’s financial cash flow

With the assistance of JLL’s specialist hotel and property financing group, Quartiers Properties AB (publ) will work to refinance part of the company’s financial liabilities. The purpose of the refinancing is to free up cash flow to continue investment, reduce the company’s cost of capital and gain the basis for long-term financing with a repayment…

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Quartiers Properties appoints new expanded management team

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…

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Marcus Johansson Prakt appointed permanent CEO of vigorously expanding property company Quartiers Properties

As of 5 September, Marcus Johansson Prakt will be the permanent CEO of Quartiers Properties AB (publ). Marcus, who has held the position of Interim CEO since May 2018, will continue to lead Quartiers’ development work on Spain’s Costa del Sol. During his time as Interim CEO, the company’s net asset value per ordinary share…

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Quartiers Properties to open Boho Restaurant at Centro Forestal Sueco property tomorrow, 29 August

Quartiers Properties AB (publ) (“Quartiers Properties” or “the company”) will open the Boho Club project restaurant to the public on 29 August 2019. The opening marks an important milestone in the company’s work on the property, which was acquired in 2017. 

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Quartiers Properties is refinancing part of its current loan with Frux Capital and establishing a EUR 1.5 million line of credit

Quartiers Properties AB (publ) (‘Quartiers Properties’ or ‘the company’) has chosen to refinance EUR 1.5 million of its previous loan with Frux Capital, and has established a EUR 1.5 million line of credit. The loan is for 30 months with an optional extension of a further six months. 

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Report from the Annual General Meeting of Quartiers Properties AB (publ), 29 May 2019

Quartiers Properties AB (publ) held its Annual General Meeting for the 2018 operating year on Wednesday 29 May, 2019. The following main decisions were made.

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Quartiers secures financing for development of villa project in Nueva Andalucía

Quartiers Properties AB (publ) (“Quartiers” or “the company”) has, through its Spanish subsidiary Flexshare España SL, entered into a financing agreement with Strandängen Bostäder i Bunkeflostrand AB (“the lender” or “Strandängen Bostäder”) with regard to financing the construction of Quartiers’ villa project in Marbella, also known as project Amapura. The loan amounts to EUR 1,340,000,…

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Quartiers Properties’ 2018 Annual Report published

The 2018 Annual Report has been published and is now available at www.quartiersproperties.se For further questions, please contact: Marcus Johansson Prakt, Interim CEO Email: marcus.prakt@quartiersproperties.se Phone: +46 (0)72-018 59 98  The company in brief Quartiers Properties is a Swedish property development company with operations on the Spanish Costa del Sol. The company was founded in…

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Notice to attend the Annual General Meeting of Quartiers Properties AB (publ)

The shareholders of Quartiers Properties AB (publ), corp. reg. no 556975-7684, are hereby invited to attend the Annual General Meeting on Wednesday 29 May 2019, at 10.00 a.m., at the offices of legal firm Wåhlin AB at Engelbrektsgatan 7, Stockholm, Sweden. Registration, etc. Shareholders wishing to attend the Annual General Meeting shall: (i)                   be registered…

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Quartiers is acquiring the Boho Club operating company and securing financing for the completion and opening of the BOHO Club hotel with restaurants in Marbella’s Golden Mile district in 2019

In conjunction with the acquisition, Raouf Lotfi, who possesses extensive experience from the hotel and restaurant industry both locally and internationally, will remain as the CEO of Boho Club. Following the transaction, Raouf Lotfi will own 20 percent of the Boho Club operating company. In conjunction with the acquisition, Quartiers Properties AB (publ) (“Quartiers” or…

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Quartiers Properties year-end report – January to December 2018

Quartiers Properties AB (publ) (“Quartiers” or “the company”) has today published the company’s year-end report for the 2018 financial year.

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Quartiers Properties given go-ahead to apply design changes to Ocean View project

Quartiers Properties AB (publ) (“Quartiers” or “the company”) has today been granted permission to carry out changes to the Ocean View project. This will enable the company to make significant improvements to the project and apply a more modern, appealing style compared with the original drawings. The decision sees Quartiers taking an important step towards…

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Quartiers Properties publishes objectives for each property project and investor presentation

The Board of Quartiers Properties AB (publ) (“Quartiers” or “the company”) has established objectives for each of its property projects. At the same time, it is publishing an investor presentation which the company intends to use at meetings for investors, primarily in Madrid. The presentation states that the Board and Chief Executive Officer estimate the…

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Quartiers Properties – Chairman purchases shares

Quartiers Properties Chairman Jörgen Cederholm has acquired 152,344 shares in Quartiers via a co-owned company. The shares were acquired on 2 November 2018 at an average price of SEK 6.32 per share. For further questions, please contact: Interim CEO Marcus Johansson Prakt Email: marcus.prakt@quartiersproperties.se Phone: +46 72 018 59 98 The company in brief Quartiers…

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Occupancy underway in phase 1 of 22byQuartiers project

Quartiers Properties AB (publ) (“Quartiers Properties” or “the company”) has sold 80 percent of phase one, with occupancy having started as planned on 28 September.

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Quartiers Properties acquires two construction-ready plots in Los Flamingos and carries out private placement of preference shares

The Board of Quartiers Properties AB (publ) (“Quartiers Properties” or “the company”) has decided to acquire two villa plots in the residential area of Los Flamingos, in the municipality of Benahavís. The underlying value of the plots amounts to EUR 1.6 million. The transaction is being carried out in corporate form, with Quartiers acquiring all…

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Quartiers Properties – CEO purchases shares

Marcus Johansson Prakt, Interim CEO of Quartiers Properties, has acquired shares in the company. When the transactions were completed the total holding amounted to 107,975 ordinary shares. The acquisition took place on the market on 17 and 18 July 2018. On 17 July, 20,000 shares were acquired at an average price of SEK 7.04, and…

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Quartiers Properties – Half-year report for January–June 2018

Quartiers Properties AB (publ) (“Quartiers” or “the company”) has today published the company’s half-year report for the January–June 2018 period.

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Quartiers Properties receives renovation loan of EUR 2.5 million for planned hotel on Centro Forestal Sueco in Marbella

As planned, Quartiers Properties AB (publ) (“Quartiers Properties” or “the company”) has secured financing for renovations to the hotel on Centro Forestal Sueco in Marbella. The loan financing is estimated to form the majority of the company’s share of the total investment in the renovation project, which is a joint investment with the co-owners of…

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Report from the Annual General Meeting of Quartiers Properties AB (publ), 30 May 2018

Quartiers Properties AB (publ) held its Annual General Meeting for the 2017 operating year on Wednesday 30 May, 2018. The following main decisions were made.

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Quartiers Properties enters into operating and cooperation agreement for a new lifestyle hotel at Centro Forestal Sueco in Marbella

Quartiers Properties AB (publ) (“Quartiers” or “the company”) has entered into an operating and cooperation agreement regarding the development and operation of a new lifestyle hotel and restaurant on part of the plots known as Centro Forestal Sueco in Marbella. Quartiers will own 50 percent of the new operating company, which is expected to open…

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Quartiers Properties appoints new CEO

Quartiers Properties AB (publ) (“Quartiers” or “the company”) is appointing a new CEO, with the current incumbent Katri Lind vacating the post. Effective from today, Quartiers is appointing Marcus Johansson Prakt, the company’s CFO, as Interim CEO.

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