President of DeA Capital Real Estate Iberia, Jos Mara Xercavins
The new fund’s first acquisition was a 15.000 sqm terrain in Villaverde (Madrid). It is also negotiating the purchase of a further 50.000 sqm.
Apart from having DeA Capital as its managing partner, the vehicle will also have a financial partner, whose name was not yet disclosed. With some bank leverage, the vehicle’s investment capacity could extend to 250 million euro.
The company’s goal is to acquire logistic and industrial assets near urban centres and distribution hubs so as to build a top-grade portfolio with sustainability as added value.
The vehicle’s president will be José María Xercavins, who had already led funds Tauro and Metrópolis and currently presided Teleno Real Estate. Koldo Ibarra will be his assistant director and María Laguna the managing director.
DeA Captial Real Estate is the largest real estate fund management company in Italy, with around 24 billion euro, 10.5 billion euro of which in real estate. Family group De Agostini started its expansion in Europe three years ago, and landed in Spain in 2020 with the acquisition of a key-in-hand project in Malaga.