What Arima does

Árima Real Estate SOCIMI S.A. is a Spanish publicly listed SOCIMI (Sociedad Cotizada de Inversión en el Mercado Inmobiliario, the Spanish REIT-equivalent regime) that invests in and actively manages a portfolio of prime real estate assets, predominantly Class A offices in Madrid's most consolidated business submarkets (CBD, A2/M30 corridor, Campo de las Naciones, Las Tablas/Manoteras), with a smaller logistics holding. The company was incorporated in 2018 and listed on the Mercado Continuo of the Madrid Stock Exchange (ticker ARM:MCE) on 23 October 2018 at a nominal value of €10 per share. As of year-end 2020 its portfolio comprised 9 assets (8 offices, 1 logistics) totalling approximately 94,124 m² of gross leasable area and €276 million of Gross Asset Value (GAV), up from 7 assets and €222 million a year earlier.

The operating model combines disciplined below-cost prime-asset acquisition with in-house refurbishment and repositioning, generating asset revaluation (e.g., +15.8% over acquisition cost in 2019; +24% YoY in 2020) and recurring rental income (annualised rents of €6.5M in 2020 and gross rental income of €5.1M, +8.4% YoY). Assets are operated through an integrated technology and sustainability stack, including the proprietary Plataforma Digital Árima® (biometric access control and operational monitoring, reducing tenant wait times by ~90%), 100% deployment of EV charging points across operational assets (130 live chargers scaling to 190), the third-party Aire Limpio® air purification system covering 87% of the portfolio, photovoltaic and solar thermal installations on 62% of assets, and 100% renewable energy supply in common areas via Guarantee of Origin certificates. The portfolio targets LEED (Gold/Platinum), BREEAM, WELL Gold and WELL Health-Safety certifications across repositioning projects.

The business model generates revenue through three streams: (i) recurring rental income from long-term corporate leases (Madrid prime office tenants plus one logistics tenant, Eroski, at the Guadalix cold-storage facility); (ii) capital gains and asset revaluation through active refurbishment and selective dispositions (e.g., the Habana building sale); and (iii) equity capital formation through SOCIMI-mandated periodic share issuances on the Mercado Continuo. Distribution is to institutional and qualified investors via the public capital markets and to corporate tenants via direct B2B leasing. Following a voluntary public takeover bid by JSS Real Estate SOCIMI, S.A. launched in May 2024 (CNMV-authorised October 2024), a board recomposition on 19 November 2024, and the merger of Árima and JSS announced as completed on 20 November 2025, Árima now operates as part of a combined SOCIMI controlled by JSS Global Real Estate Fund (linked to Bank J. Safra Sarasin).

Name

Arima

Legal name

ÁRIMA REAL ESTATE SOCIMI, S.A.

Website

https://arimainmo.com

Company type

Public

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

Spanish publicly listed SOCIMI (REIT-equivalent) that acquires, refurbishes and actively manages a portfolio of prime Class A offices in Madrid's most consolidated submarkets, with an ESG-integrated technology stack and recurring long-term corporate leases.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Investment (Office SOCIMI / REIT)

NAICS

Real Estate Property Managers (53131), Rental and Leasing Services (532), Portfolio Management and Investment Advice (523940)

SIC

Real Estate Investment Trusts (6798), Real Estate (6500)

akta.pro primary industry

Registered Investment Advisor (RIA) Wealth Management (FSAEABAA)

akta.pro secondary industry

Property Management Advisory & Leasing Administration (FSAEAJAN)

Keywords

• Prime office leasing
• SOCIMI real estate
• Madrid office properties
• Sustainable commercial real estate
• Office asset management

Headquarters

HQ city

Madrid

HQ country

Spain

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Rental income from office and logistics leases: Core recurring revenue stream from leasing prime office (predominantly) and logistics assets in Madrid to corporate tenants on multi-year contracts. Annualized rents of €6.2M (2019) and €6.5M (2020); gross rental income €5.1M in 2020 (+8.4% YoY). Long-term leases with built-in rent indexation.
2. Capital gains and asset revaluation: Property value appreciation through active refurbishment and repositioning of assets. Gross Asset Value (GAV) grew from €222M (2019, +15.8% over acquisition cost) to €276M (2020, +24% YoY). Sale of assets (e.g., Habana building sold) generates one-off gains.
3. Equity capital raises: Capital growth funded through periodic share issuances. Two capital increases in 2019 raised €190M total (€40M in April, €150M in November at €10.40/share). New shareholder Ivanhoé Cambridge contributed €60M. SOCIMI regime mandates dividend distribution from qualifying profits.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels9 records

Core offering

Árima is a Spanish listed SOCIMI (REIT-equivalent) that acquires, refurbishes and actively manages a portfolio of prime Class A office buildings in Madrid's most consolidated submarkets, together with one complementary cold-storage logistics asset. The company leases space to corporate tenants on multi-year contracts and creates long-term value through asset repositioning, ESG-led refurbishment and embedded technology modules (Plataforma Digital Árima®, Aire Limpio® air purification, EV charging, renewable energy).

Product overview

Árima Real Estate SOCIMI S.A. is a Spanish listed SOCIMI (REIT) operating as a single unified real estate investment and asset management platform focused predominantly on prime offices in Madrid, with a complementary logistics holding. The platform-plus-modules architecture combines a core Asset Portfolio Management service — covering identification, acquisition, refurbishment and active rental management of named office assets (Botanic, Cadenza, Cristalia, Dune, JV38, Pradillo, Ramírez de Arellano, Torrelaguna, Tres Cantos, Las Tablas) and the logistics asset Guadalix — with integrated sustainability and tenant technology modules. These technology modules include the proprietary Plataforma Digital Árima® (biometric access control and building management platform), the Integrated EV Charging System (130 live chargers across 100% of operating assets, scaling to 190 spaces), the third-party Aire Limpio® air purification system covering 87% of the portfolio, Renewable Energy Installations (photovoltaic and solar thermal on 62% of assets), and the Sustainable Micromobility offering. Each named asset operates as a distinct sub-product within the unified portfolio, while the technology and sustainability modules function as cross-portfolio services that support Árima's ESG strategy and value-add positioning across the entire real estate portfolio.

Differentiator

Problem solved

Functional benefit

Products and services

• Botanic Office Building Prime Class A office building with high A2 motorway visibility in Madrid; 9,391 m² across 9 above-ground floors and 193 parking spaces (36 with EV chargers); targets LEED Platinum, WELL Gold and WELL Health & Safety; features a 2,500 m² botanical garden. Leased to corporate tenants (e.g., MSD Spain subsidiary for its new corporate headquarters).
• Cadenza Office Building Office building in Campo de las Naciones, Madrid, originally a data centre; approximately 14,500 m² across 5 above-ground floors plus 2 basement floors and 196 parking spaces (30 EV); targets LEED Gold and WELL Gold certifications with full refurbishment by Estudio de Arquitectura Lamela.
• Cristalia Office Building Class A exempto office building within Parque Empresarial Cristalia, Madrid, with LEED Gold certification; 10,928 m² across 6 floors and 202 parking spaces; includes atriums, photocatalysis air purification and air quality sensors.
• Ramírez de Arellano Office Building Prime Class A office building in Madrid's A2/M30 area, designed by Rafael de la Hoz (2008); 6,759 m² across 7 above-ground floors plus 110 underground parking spaces; BREEAM "Very Good" certification; includes a solar thermal installation covering 70% of hot water demand.
• Guadalix Logistics Warehouse Cold-storage logistics warehouse developed by Gazeley in 2008 on a 35,000 m² parcel in San Agustín de Guadalix (Madrid's second logistics ring), leased to Eroski; 25,694 m² with 29 loading docks, 9.50 m clear height and -23°C negative cold chambers; plans for photovoltaic installation, improved insulation and LED lighting.
• Manoteras 28 Turnkey Office 12,000 m² Class A turnkey office building in Calle Manoteras 28, Madrid, acquired under a turnkey (llave en mano) contract for €38.9 million; designed by architect Carlos Rubio with LEED Platinum and WELL Gold targets; leased to ICEX for ~13,000 m² as its new corporate headquarters.
• Dune Office Building Office property within the Árima Real Estate prime office portfolio in Madrid.
• JV38 Office Building Office property within the Árima Real Estate prime office portfolio in Madrid.
• Pradillo Office Property Office property within the Árima Real Estate prime office portfolio in Madrid; precertification obtained.
• Torrelaguna Office Property Office property within the Árima Real Estate prime office portfolio in Madrid.
• Tres Cantos Office Property Office property within the Árima Real Estate prime office portfolio in Madrid.
• Las Tablas Office Property Office property within the Árima Real Estate prime office portfolio in Madrid.

Quantifiable outcome

• Asset value growth of +15.8% over acquisition cost in 2019 and +24% YoY in 2020
• +7 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Ten partnerships are on record, tiered core, minor and flagship.

• CBRE Valuation AdvisorycoreImplementation/ SI/ Consulting PartnerIndependent portfolio valuer. Conducted asset valuations in February, July and December 2019 and December 2020 in accordance with RICS Red Book standards (Royal Institution of Chartered Surveyors).
• PricewaterhouseCoopers Auditores (PwC)coreImplementation/ SI/ Consulting PartnerExternal auditor of Árima Real Estate, providing unqualified audit opinion on annual accounts.
• Estudio de Arquitectura LamelaminorImplementation/ SI/ Consulting PartnerArchitecture firm engaged for the refurbishment of the LS7 (Cadenza) building, targeting LEED certification.
• Álvarez-Sala (architectural studio)minorImplementation/ SI/ Consulting PartnerArchitectural studio led by Enrique Álvarez-Sala commissioned for the integral refurbishment of the Botanic building, targeting LEED Platinum, WELL Gold and WELL Health & Safety certifications.
• Fenwick Iribarren ArchitectsminorImplementation/ SI/ Consulting PartnerArchitecture firm commissioned for the integral renovation of the Habana building, targeting LEED Gold and WELL Gold / WELL Health & Safety certifications.
• Carlos Rubio (architect)minorImplementation/ SI/ Consulting PartnerRenowned Spanish architect commissioned to design the Manoteras 28 turnkey office building, targeting LEED Platinum and WELL Gold certifications.
• Isabel Pallarés (landscape designer)minorImplementation/ SI/ Consulting PartnerRecognized landscape designer who created the 2,500 m² botanical garden at the Botanic building.
• Kreab (press office)minorGTM or Marketing PartnerExternal press office handling communications; contact Laura Serrano-Conde at [email protected] / +34 685 18 95 07.
• ESG consulting partners (homologation program)minorImplementation/ SI/ Consulting PartnerExternal ESG consultants supporting the Supplier Homologation Program; first ESG assessment of suppliers conducted in 2021, with 81% of suppliers evaluated in 2024.
• J. Safra Sarasin Asset Management / Bank J. Safra SarasinflagshipStrategic or Co-development PartnerParent group of JSS Real Estate SOCIMI; José María Rodríguez-Ponga Linares (Chairman & CEO of Árima) previously served 10 years as Investment Director at J. Safra Sarasin Asset Management in London. Post-merger, JSS Global Real Estate Fund Master Holding Company holds proprietary director positions. J. Safra Sarasin also acts as the in-house Senior Legal Counsel for one director.

Scale indicators16 records

Recent moves2 records

Expansion highlights5 records

Broad incumbents

• Icade: French listed real estate company with significant prime office and business park portfolios around Paris. Comparable on office REIT structure, ESG strategy and SOCIMI-equivalent French SIIC regime.
• Gecina: Leading French office REIT with prime Paris CBD focus and strong ESG credentials. Comparable to Árima on prime office strategy, ESG positioning, EPRA sBPR reporting and institutional investor base; broader geographic footprint.
• Merlin Properties SOCIMI: Spain's largest SOCIMI by GAV, with a diversified portfolio of offices, retail, logistics and data centres. Broad incumbent benchmark for Spanish listed real estate; comparable on SOCIMI regime, ESG reporting and institutional shareholder base, but materially larger and more diversified than Árima.
• Covivio: European listed REIT with offices in Paris, Milan and other major CBDs. Comparable to Árima on prime office focus, ESG strategy and European institutional shareholder base; larger and more geographically diversified.

Direct peers

• Colonial (Société Foncière Lyonnaise / Inmobiliaria Colonial): Largest Spanish SOCIMI focused on prime CBD offices in Madrid, Barcelona and Paris. Directly comparable to Árima on asset class, geography (Madrid CBD), tenant profile, listed SOCIMI structure and ESG-led repositioning strategy.
• Lar España Real Estate SOCIMI: Spanish listed SOCIMI focused on retail and office assets in prime Spanish locations. Comparable in size and structure to Árima; useful peer for Spanish SOCIMI valuation, dividend policy and capital markets dynamics.
• JSS Real Estate SOCIMI: Spanish SOCIMI led by the same team behind the 2024–2025 takeover of Árima. The two entities merged on 20/11/2025, making JSS the closest historical peer and now the surviving combined entity.
• GMP Property SOCIMI: Spanish SOCIMI owner of prime office buildings in Madrid. Directly comparable to Árima on Madrid CBD prime office focus, listed SOCIMI structure and ESG repositioning.

Regional players

• CA Immobilien Anlagen: Austrian/German listed office specialist with prime assets in CEE capitals. Comparable to Árima on office REIT structure and ESG repositioning of prime assets; serves different geographies.

Emerging players

• Inbest Prime I Inmuebles SOCIMI: Small Spanish SOCIMI focused on prime Madrid offices. Closest sub-scale structural peer to Árima in terms of size, Madrid office focus and listed SOCIMI structure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/arima_socimi

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Arima