• With the funds raised, the SOCIMI intends to continue its disciplined investment strategy, seizing attractive investment opportunities in the short term, in line with the Company’s value creation strategy
  • The transaction has been carried out through an accelerated book-building offer and will permit that new investors enter the Company, enhancing the free float and the liquidity of the stock

Madrid, 7 March 2017. The SOCIMI Axiare Patrimonio has successfully completed the share capital increase of a total aggregate amount of €93.4 million announced this evening at market close, through an accelerated book-building offering. The transaction has consisted in the issuance of 7,187,498 new shares of the Company (approximately a 9.99% of the Company’s share capital before the share capital increase), with an issue price of €13 per share which represents a discount of 2.6% on the closing price of 7 March 2017. Following the share capital increase, based on the current trading price, Axiare Patrimonio’s market capitalisation will exceed €1 billion.

With the funds raised, Axiare Patrimonio will continue with its disciplined investment strategy, seeking to create value by actively managing the Company’s portfolio and maximising total shareholder return. In this regard, it must be highlighted that the Company has a pipeline of investments of more than €1.1 billion, of which €400 million are at an advanced stage of execution.

The placing has been made among a solid base of qualified and international institutional investors, including current shareholders as well as new investors, diversifying the shareholding base of the Company and enhancing the free float and the liquidity of the stock. The success of the transaction reveals the high interest of the investors on the business model implemented by Axiare Patrimonio, and the interesting opportunities which the Spanish real estate market offers especially in the office buildings segment.

Axiare Patrimonio has been legally advised by Ernst & Young Abogados and Uría Menéndez Abogados. The Joint Global Coordinators of the transaction have been JB Capital Markets and Morgan Stanley, and Citigroup and Deutsche Bank have acted as Joint Bookrunners, all of them advised by the law firm Allen & Overy.

The new shares are expected to start trading on the Stock Exchanges of Barcelona, Bilbao, Madrid and Valencia on Wednesday, 8 March.

Axiare Patrimonio stands as one of the most active players in the Spanish real estate market, carrying out investments amounting to more than €360 million in the last six months, mainly in prime office buildings and logistic warehouses, acquired below their replacement cost and with a high value creation potential.

With these recent acquisitions, the asset portfolio acquired by Axiare Patrimonio, valued at 1,489 million euros, is comprised of 75% of office buildings, 16% of logistic platforms and 9% of other business assets. Since its Initial Public Offering in July 2014, the Company has generated a return in terms of NAV growth of 45.4% as per the NAV of €13.8 per share published at 31 December 2016.


On Axiare Patrimonio:

Axiare Patrimonio is a Spanish company that has been listed on the Madrid, Barcelona, Bilbao and Valencia stock exchanges as a SOCIMI (Sociedad Anónima Cotizada de Inversión Inmobiliaria), since July 9, 2014. Its primary activity is the identification of investment opportunities in the Spanish real estate market and the creation of a prime property portfolio with strong potential value uplift that provides an attractive yield for its shareholders with a special focus in office buildings.

The Company’s value creation strategy is based on the active management of its portfolio – carried out by an expert internal team dedicated exclusively to this task – in order to maximise its quality, occupancy and value and transform the properties into the leading schemes in their catchment area. Axiare Patrimonio’s investment activity is focused on the acquisition of office buildings which either are – or have the potential to be – Grade A in the CBD and the most sought-after business districts in Madrid and Barcelona; logistics platforms on Spain’s main distribution highways and retail schemes in established areas of the country.

For more information, please contact:

Axiare Patrimonio Press Office:

Biel Huguet

Tfno: +34 91 576 52 50 / + 34 637 883 468

Email: bhuguet@estudiodecomunicacion.com

Axiare Patrimonio Investor Relations:

Carmen Boyero-Klossner

Tfno: +34 91 431 93 17

Email: investors@axiare.es