REIT Árima Real Estate announced, this Wednesday, it will issue more than 5 million ordinary shares at 10 euro each. This was the strategy the board members outlined to increase the company’s capital in 50 million euro.
This capital increase has a well-defined purpose. The company mentions, in the release sent to Comisión Nacional del Mercado de Valores, that «the capital increase’s goal is to collect the financial resources to invest in new real estate assets and increase the company’s portfolio».
In order to find the right investors, the REIT will have a management team in charge of market research.
This operation, which represents a 50% increase in the company’s capital stock, comes at a time when the company has already invested all the shareholders’ funds, it can be read in the same document.
The company, which entered the Madrid Stock Market four months ago, has a portfolio with a «great revaluation potential». In Madrid alone, Árima has 29.000 sqm in office spaces destined for the rental market. It also has 460 parking spaces.