The fund manager Argis is launching a new fund. This vehicle will seek to raise 200 million euros to invest in Spanish residential: build-to-rent, co-living and tourist apartments.
Currently, it has €50 million in equity but is in talks with Latin American and Israeli funds to raise up to €200 million. Adding leverage, the vehicle would have 400 or 500 million euros to invest in Spain’s housing market over the next three years. After that, there would be a five-to-seven year horizon for the divestments to be completed.
The company will invest in Madrid and Malaga, although other places such as Barcelona, Valencia, or even Portugal, have not been ruled out. The management company already has assets in San Sebastián de los Reyes and the Andalusian city of the Costa del Sol.