Arcano closes second fund with €130M

Arcano closes second fund with €130M

Despite being closed, this fund is not inactive. Only about 48% of its value is already compromised, with margin-left to continue acquiring new buildings: from housing units to logistic assets and offices.

Investing in the Portuguese market is a possibility, mentioned the company in a release. But under the condition that the value of the operation does not exceed 20% of the company’s full investment capacity. Under these terms, the potential investment in Portugal could not be higher than 26 million euro.

AVA II launched itself in the market during the first semester of 2019 with the purchase of EFE news agency’s building in Madrid, which it will convert into a luxury residential unit with 50 dwellings. Another investment was a logistic asset within the Cerro del Rubal industrial park in Madrid, which should also be converted.

Concerning the new investments, Eduardo Fernández-Cuesta, partner at Arcano Real Estate, mentioned that it is a fact that, «there are many market opportunities and thanks to the Arcano’s team experience and track record I am convinced that we will know how to take advantage of them and turn them into added value and returns for our investors».

For Pablo Gómez-Almansa, Investment Director at Arcano Real Estate, «AVA II might become, as was the case of the first fund, one of the most successful funds».

With the closing of this fund, Arcano adds 350 million euro in real estate assets and more than 6.000 million euro in alternative assets such as private equity, infrastructure, credits and others.

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