Atalaya raises another €40M vehicle to invest in land in Madrid

Atalaya raises another €40M vehicle to invest in land in Madrid

Atalaya Desarrollos Urbanísticos, a company dedicated to the development of urban projects owned by MAZABI and Myjoja, has raised its second investment vehicle with a volume of €40 million, focused on identifying new land management opportunities, mainly in the Madrid region.

After completing its first vehicle, with which it acquired 630,000 square metres in several key residential developments in the capital, such as Valdecarros, Los Ahijones, Los Berrocales and Cerro del Baile, the company is now expanding its strategy with the aim of continuing to capitalise on investment opportunities in land for transformation, development and subsequent sale as finalist land. Atalaya Desarrollos Urbanísticos reiterates its interest in locations with available urban land for construction, where there is a constant and recurring demand for homes for sale and rent.

In addition, the company does not rule out making new investments in other major cities in Spain that face high demand and a shortage of land for development.

During this second phase of investment, the company has recently completed the acquisition of new land in the Los Berrocales development, in the southeast of Madrid, for a value of 8.3 million euros.

With both vehicles, Atalaya has committed a total of €80 million over the last two years, mainly for the purchase of land in the Madrid region.

According to Javier Gómez, CEO of Myjoja, the launch of this second vehicle is due to the presence of an interesting pipeline in large developments, together with a solid demand for finalist land from developers, fund managers and cooperatives, due to the scarcity of this type of land and the high demand for both sales and rentals.

For Ignacio Bezares, managing partner of the residential area of Mazabi, "the dynamisation of the housing offer, free and protected, for sale and for rent requires the existence of abundant land suitable for building. The main developments in the big cities continue to offer interesting investment opportunities that we want to continue to take advantage of".

Atalaya Desarrollos Urbanísticos, established in mid-2022, has two managing partners: Myjoja Inversiones, which specialises in the acquisition of land under management for subsequent transformation and sale; and MAZABI, a company specialising in the management of family real estate assets. Its investment approach focuses on land acquisition, development and transformation, with the aim of making it available to developers, construction companies and cooperative managers interested in developing building projects in these areas.

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