Argis has closed Argis Living Fund II with €257 million in equity and a total investment capacity of €700 million, including associated financing. The fund has exceeded its initial fundraising target and recorded 10% oversubscription, with institutional and pension investors, family offices, high-net-worth individuals and private investors from 23 countries.
The structure combines the capital raised with some €450 million in financing, bringing the average leverage to 65%. The fund, which has a maximum investment period of three years, has already invested or committed nearly 60% of its capacity to eleven transactions totalling more than 1,400 homes and residential units in Madrid and its metropolitan area, Barcelona and Terrassa.
The strategy focuses on three investment streams: build-to-sell, flex living and asset conversion. Transactions include Nova Marina, Plaça Llum, North Tower, North Park, Flipco Campo de las Naciones, Urban Viana and Urban Nature.
In the residential sector, Argis Living is involved in the technical, urban planning and commercial development of projects, while Flipco by Argis takes charge of the day-to-day management of flexible rental assets. This structure enables the management company to be involved at different stages of the asset’s lifecycle, from initial analysis through to development and operation.
Alejandro Schuvaks, founder of Argis, points out that the fund’s closure reflects the interest of investors from 23 countries in a strategy based on “capital discipline, market knowledge and execution capability”. Carlos Zucchi, CEO and co-founder, attributes the fund’s launch to an understanding of demand, costs, timelines and the actual development conditions in the markets where it operates.
