Accelerated Bookbuild Offering

€ 150 million
Joint Global Coordinator and Joint Bookrunner Kempen also acted as Sole Placement Agent on behalf of the Reference Shareholder, Ivanhoe Cambridge
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Árima Real Estate SOCIMI S.A.

Kempen acted as Joint Global Coordinator and Joint Bookrunner in the successful €150m Capital Increase of Árima Real Estate SOCIMI S.A. Furthermore, Kempen acted as sole placing agent in attracting Ivanhoé Cambridge as reference shareholder

Transaction highlights

  • Raising €150 million, Árima successfully completed its second capital increase of the year
  • The transaction was upsized from €100 million to €150 million as a result of strong demand from new and existing Long Only and Real Estate specialist investors
  • Árima welcomes Ivanhoé Cambridge as reference shareholder representing 20.3% in Arima’s share capital
  • The total offering of c. 14.4 million primary shares via an accelerated bookbuild represents a massive 103% increase of market cap
  • The shares were priced at a premium to the prevailing share price in the market prior to the announcement of the new reference shareholder
  • This significant contribution will enable Árima to continue executing its investment strategy, which consists mainly in acquiring assets with added value potential, engaging in an active portfolio management approach, and investing in the assets’ repositioning to maximize their quality, occupation and value and to turn them into benchmarks in their market

Company description

  • Árima Real Estate is a Spanish company that listed on the Madrid Stock Exchange as a SOCIMI (Sociedad Anónima Cotizada de Inversión Inmobiliaria) and that is led by a fully dedicated internal management team
  • The company was created in 2018 with the aim of becoming the leading Spanish SOCIMI in the Madrid office market
  • The company is headed up by Luis López de Herrera‐Oria (CEO) and boasts the same highly regarded management team that steered Axiare Patrimonio SOCIMI to success

Kempen Real Estate credentials

  • Kempen has advised on Real Estate transactions in 13 different countries in Europe since 2017
  • This transaction underpins our #1 position in European Real Estate ECM since 2011
  • The deal represents Kempen’s 8th real estate ECM transaction for the year, including deals with WDP, Vonovia and Aedifica, totaling over €1.7 billion

 

Contact

Dirk Saltzherr
Thomas ten Hoedt

Transactions