Inurban has launched a second real estate investment vehicle through Iberia REIM, the management company it set up in 2024 to open up its asset co-investment strategy to third-party investors. The company has not provided figures on the investment volume of this new vehicle.
Iberia REIM currently manages two vehicles. The first, Arabi Living, focuses on the development of tourist apartment buildings in Spanish cities with high demand for urban tourism, through long-term lease agreements with international operators. The second, Nuevo AltoReal, plans to invest €45 million to generate land with capacity for around 2,500 homes, with a time horizon of between six and eight years, according to data published on the Inurban website.
The management company structures its activity into five areas of investment: hospitality, living, logistics, retail and land development. Inurban participates in the projects through direct co-investment. The Iberia REIM team is made up of professionals from Inurban and its strategic partner BITOR Asset Management, with functions ranging from project definition to execution.
The announcement comes at a time when real estate co-investment vehicles are gaining ground in Spain as an alternative for channelling private capital into specific projects. These types of structures, in which developers participate alongside external investors, have been used in recent years to finance build-to-rent developments, student residences, retail assets undergoing repositioning and logistics projects linked to the boom in e-commerce.
The living and logistics segments have accounted for a significant share of investment in the Spanish market during 2024, while hospitality has regained its appeal with the revival of urban tourism. In addition, the shortage of developable land in large cities continues to drive initiatives focused on its development, an area in which Nuevo AltoReal also fits.