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Apr 2019
Co-Lead Manager
€ 40 million
Accelerated Bookbuild Offering

Árima Real Estate SOCIMI S.A.

Co-Lead Manager

Kempen acted as Co-Lead Manager in the successful €40 million capital increase of Árima Real Estate SOCIMI S.A.

Transaction highlights

  • Offering of 4 million primary shares via an accelerated bookbuild, representing a massive 40% increase of market cap, at a premium to share price at announcement
  • Gross proceeds of €40 million will be used to expand its existing portfolio and enhance it through capital expenditures
  • The company has identified a sizeable investment pipeline 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
  • Allocations were well balanced between long only- and real-estate specialists with the top five institutional investors taking 42% of the Capital Increase
  • 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 via an initial public offering on the Spanish stock exchanges in October 2018, Kempen acted as Co-Lead manager in the IPO
  • Since the IPO the company has built up a portfolio of 3 office buildings and several floors in a prominent office building, all of which are located in Madrid
  • Ran by the previous Axiare management team, the board brings a wealth of experience and a large network of real estate professionals in key Spanish office markets

Kempen Real Estate credentials

  • Kempen has advised on Real Estate transactions in 13 different countries in Europe since 2017
  • This transaction underpins our position being #1 in European Real Estate ECM since 2011

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