The Spanish asset management company Azora is teaming up with the American firm Exan Capital, intending to replicate its model in the United States. It already has 20 employees working in the new Miami office.
Azora Exan will invest in offices, logistics, residential, nursing homes and hotels, although the Spanish company will have a dominant position over the American company. The strategy will be value-added and opportunistic, with core and core-plus assets.
Azora says that it will follow “broader and more diversified strategies”, starting with the hotel and residential sector. There is no specific figure on investment capacity, but it could reach five billion euros. The Spanish company currently manages four billion euros in assets. The U.S. company, on the other hand, has one billion euros under management.