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Oct 2018
Co-lead manager
€ 100 million
Initial public offering

Árima Real Estate SOCIMI S.A.

Co-Lead Manager

Kempen acted as Co-Lead Manager in the successful €100 million initial public offering of Árima Real Estate SOCIMI S.A.

Transaction highlights

  • Initial public offering of 10 million primary shares valued at €10 per share
  • Gross proceeds of €100 million will support primarily the investment in commercial property, mainly offices located in the city center in Madrid and to a lesser extent, Barcelona
  • The company has identified an investment pipeline totaling €1.6 billion which presents a significant opportunity for value creation through renovation and other capital investments
  • The transaction was launched on the back of a very extensive marketing exercise indicating strong interest ahead of launch
  • Allocations were well balanced between long only- and real-estate specialists
  • Despite the challenging market conditions during the bookbuilding period, the IPO priced successfully
  • Kempen generated substantial demand with a strong focus on Long Only Real Estate specialist investors

Company description

  • Árima Real Estate SOCIMI S.A is a commercial real estate investor which launched a cash box initial public offering on the Spanish stock exchanges
  • Supported by the previous Axiare management team, the board brings a wealth of experience and a large network of real estate professionals in both Madrid and Barcelona

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