Perry Capital instructs Allen & Overy on sale of Axiare stake

Perry Capital instructed Allen & Overy on the sale of a 15 per cent stake in Spanish real estate investment trust Axiare Patrimonio SOCIMI to Colonial.


Colonial was advised by Ramón y Cajal on the deal.

Colonial bought 10,846,541 shares in Axiare for 12.5 euros ($14.0) per share.

The transaction was valued at a total €135 million.

In the first half of 2016, Axiare increased profits by 168 per cent year-on-year. Profits for the period totalled €83.8 million, while rental income climbed 27.6 per cent to €19.9 million.

Ben Cook