Davis Polk Advises Árima Real Estate SOCIMI, S.A. on Its €40 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 4,000,000 of Árima’s ordinary shares, raising gross proceeds of €40 million. The global offering comprised an offering to institutional investors within and outside of Spain, including in the United States pursuant to Rule 144A, and an offering within Spain to Árima’s management team. Árima’s shares have been admitted to listing on the Spanish Stock Exchanges.

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 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.