Azora has launched a new European multi-strategy vehicle with equity of 270 million euros and an investment capacity of 500 million euros. The fund, with an investment horizon of five to ten years, aims to invest flexibly in the real estate sector in Southern Europe and take advantage of various opportunities arising in traditional segments like land development and office repositioning, as well as in emerging asset classes such as residential rentals, data centers, agriculture, leisure, retail, alternative housing models, and student residences, among others.
In the launch of this new vehicle, Azora has the support of one of the main sovereign funds that has placed its trust in Azora’s long trajectory of identifying different opportunities, managing complexity, adding value through management, and generating superior returns.
This operation represents the third flexible multi-sector fund that Azora has launched with a European scope. The SOCIMI Hispania, launched in 2014 with a capital of one billion euros, achieved a net return of 19% TIR during its four-year life until its sale to Blackstone in 2018. Subsequently, Azora established Azora Principals, a fund already 100% invested with the goal of doubling the invested capital in five years, which has already generated an average return of 23% in its divestments.
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