At end of June, Árima Real Estate SOCIMI, S.A. (BME: ARM) declared it has a market value of properties of €175.3 million. It currently trades at €9.95 per share (a market capitalisation of 128 million as at the 31st of July).
The Spanish property fund made its debut on Madrid’s alternative stock exchange last October 2018 and by April 2019 it had invested the €100M of capital raised in IPO.
Currently, logistics represents c. 13% of Árima’s portfolio, and the remaining 87% are offices located in Madrid. In fact, its recently purchased a 6,759m² office building: the Spanish headquarters of Sonae located in the area of Avenida de América. Before that, the REIT paid €16.4million for a 26,000m² logistic warehouse in San Agustín de Guadalix let to Eroski, a spanish food distribution company.
During July the fund announced the signing of two new loans of €63.8 million for new acquisitions. The main shareholders of the Spanish REIT are Bank of Montreal, with a 10.4% stake; Pelham Capital Hedge Fund, with 9.984%; UBS (9.164%), the CEO of Árima, Luis Alfonso Lopez Herrera-Oria, (7.791%) and Morgan Stanley (5.122%).
For its latest office acquisition, Árima received legal advice from EY and technical advice from Savills.