Davis Polk instructed by Árima on €40m share offering

Davis Polk acted for Spanish real estate investment trust Árima on its follow-on offering of four million ordinary shares.

The offering raised gross proceeds of €40 million.

The 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 real estate investment trust Axiare Patrimonio.

The Davis Polk capital markets team advising on the deal included Madrid partner Michael J. Willisch.