Davis Polk Advises Árima Real Estate SOCIMI, S.A. on Its €100 Million Initial Offering

Davis Polk advised Árima Real Estate SOCIMI, S.A. on the Rule 144A/Regulation S initial offering by Árima of 10,000,000 of Árima’s ordinary shares, raising gross proceeds of €100 million. The global offering comprised an offering to institutional investors within and outside of Spain, including in the United States pursuant to Rule 144A. Árima’s shares have been admitted to listing on the Spanish Stock Exchanges.

Árima is a recently-incorporated company managed by the former management team of Axiare Patrimonio SOCIMI, S.A. Árima’s strategy is to create a real estate portfolio consisting mainly of offices with a focus in the central business district and other well-established areas in Madrid and, to a lesser extent, in Barcelona, as well as logistics properties in other major logistics hubs in Spain.

The Davis Polk capital markets team included partner Michael J. Willisch and associates Thomas K. Wiesner II and Jose Lucena-Rebollo. The tax team included counsel Alon Gurfinkel and associate Veronica Davis. Counsel Charles Shi provided ERISA advice. Associate Sijia Cai provided 1940 Act advice. Members of the Davis Polk team are based in the Madrid, London and New York offices.