MERLIN Properties Annual Report 2021

24 | Annual Report | 2021 The release spread achieved in the contracts renewed or relet in the period amounts to 4.3% Within Offices, MERLIN offers a flex space service through its subsidiary LOOM. This service consists in the commercialization of ready to use desks, maintained by dedicated staff within each space, to be used by clients through a service provision contract subscribed between LOOM and the customers. As of December 31 st , LOOM has 10 spaces in operation, with a total GLA of 18,000 sqm and a total stock of 1,877 desks within those spaces. Out of these 10 spaces, 7 spaces, with a total GLA of 13,343 sqm are owned by MERLIN Properties. At year-end, LOOM has a 70% occupancy, measured as occupied desktops in relation to the total desktops in stock Asset Tenant G.L.A. (sqm) Adequa Técnicas Reunidas 43,515 Monumental BPI 22,451 Castellana 85 Accenture, Elecnor, Teka & Loom 16,474 PE Puerta de las Naciones Roche Farma 11,444 Avenida de Europa Vass 10,495 PE Sanchinarro Inetum 8,595 Diagonal 199 Capgemini 5,934 Vegacinco 2 Indra 5,400 PE Poble Nou 22@ Schneider Electric 4,990 Arturo Soria 343 Elecnor 4,496 Atica 5 Transcom 4,225 Avenida de Bruselas 26 GFT IT Consulting 3,128 Juan Esplandiú 11-13 Pepper Asset Services 3,051 Release spread # contracts Madrid +2.8% 121 Barcelona +9.1% 41 Lisbon +18.1% 9 Total +4.3% 171 Total take-up amounts to 268,939 sqm out of which 122,965 sqm correspond to new contracts and 145,974 sqm to renewals. Exits amounted to 102,203 sqm, and therefore the net take up is positive by 20,762 sqm. Main contracts signed in FY21 are the following: OFFICES