Terralpa has launched a new fund with which it expects to invest 600 million euros in luxury developments in Spain over the next seven years, according to Expansión.
Specifically, Ramón Hermosilla, managing partner of the investment group, explained that Terralpa is working on a fund with which it plans to raise 250 million euros of capital, which, with leverage, could allow investments for a total of 600 million.
To this new fund, in addition to the capital that already accompanied them in their first vehicle, other Mexican, Spanish, North American and, to a lesser extent, European investors have joined.
In addition to exclusive homes, with first and second residences, the fund will analyze properties that can host mixed use to be used for hotels or offices, and will look for operations with land management.
On the other hand, Hermosilla has indicated that, although until now they have focused on Madrid, Terralpa's objective is to enter other cities. "We are looking for other locations in Spain, such as Malaga, the Balearic Islands or the north of the country," he said. The manager, however, has ruled out investing in Catalonia, at least for now.
The manager created her first fund three years ago, with which she has already invested around 250 million euros. Before that, her founding team had already acquired the Marqués de Salamanca building, one of her most important buildings.