Patron Capital has bought the 'coliving' manager Vanguard Student Housing from the consulting firm 3 Capital Real Estate to break into this market segment in Spain.
Through its investment vehicle Vandor Real Estate, which has been listed on Euronext since December, the British fund has invested 50 million in the acquisition and remodeling of eight buildings, five in Barcelona and three in Valencia, in the last two years. Both properties add up to a total of 117 homes, and the company's objective is to allocate them to coliving, a segment in which Vanguard Student Housing is a specialist.
Thus, with its entry into the shareholding, Patron Capital intends to "optimize the design" of its coliving product and "improve the service" to its clients, promoting the improvement of its management, IT, commercialization and marketing systems, they explain.
The real estate fund aims to invest an additional 150 million euros between this year and the next, to reach a portfolio of close to 40 buildings. In this sense, the company confirms that it is looking for "residential buildings, empty or partially rented, in central or consolidated areas of the cities of Madrid, Barcelona, Valencia and Bilbao".
Patron Capital, created in 1999 in London and with an office in Barcelona since 2004, is creating a network of intermediaries and collaborators in the different target cities previously mentioned, in order to consolidate and expand its presence throughout the national territory.
Currently, the fund manager controls a portfolio of around 4,300 million euros.