Davis Polk Advises Árima Real Estate SOCIMI, S.A. on Its €150 Million Follow-on Offering

Davis Polk advised Árima Real Estate SOCIMI, S.A. on the Rule 144A/Regulation S follow-on offering by Árima of 14,423,076 of Árima’s ordinary shares, raising gross proceeds of €150 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 is a Spanish public limited company managed by the former management team of Axiare Patrimonio SOCIMI, S.A. Árima’s strategy is to expand its portfolio of commercial property, mainly in offices, located in the city center in Madrid and, to a lesser extent, in Barcelona and other major logistics hubs in Spain, with the aim to deliver income from rents as well as capital growth through active property management.

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 Summer Xia. Counsel Charles Shi provided ERISA advice. Associate Matthew R. Silver provided 1940 Act advice. Members of the Davis Polk team are based in the Madrid, London and New York offices.