This new company starts with 6.458 residential units, according to El Mundo, and follows up the recapitalization of Lazora, another residential vehicle managed by Azora that will be «the base to continue growing», explains the manager quoted by EjePrime. Azora will now be responsible for the investment and global management of this new real estate vehicle, in which it acquired majority ownership.
CBRE GI increases its exposure in the residential market to more than €2,500 million. Alexander van Riel, leader of the company in Continental Europe, explains that this step follows the strategy of the consultant to «follow demographic trends and real estate development in markets with shortage of product».
The new partnership is «a unique opportunity to acquire a large-scale residential portfolio located mainly in the Spanish capital» for Derek Jacobson, manager at Investimento Imobiliário da Madison International Realty.
These assets, according to EjePrime, should be launched in the next two to three years.