The Spanish real estate market currently offers attractive prospects for those who can identify suitable properties and raise capital. Investor appetite remains strong, but transactions are also becoming more selective. Access to opportunities, market knowledge and the ability to deliver are once again making all the difference.
Aliseda serves as the nexus where capital meets product. Having evolved into a multi-client model for asset management and real estate consultancy, the company draws on its experience of managing large portfolios for banks and investment funds to work with a broader range of property owners, investors, developers and family offices.
Aliseda currently manages more than 11 billion euros’ worth of assets, having taken on around 2.7 billion euros from 180 clients over the past year. Its aim is to attract 4 billion euros a year in new third-party assets.
Ambition outstrips volume. The goal is to create opportunities - many of which lie outside the open market - to connect clients with the right capital and support their development, management or transformation. Our strategy involves acting as a ‘private banker’ for the real estate sector, understanding the needs of each investor and finding or creating the right opportunity.
This origination capability is underpinned by three main business areas: land, new-build property, and Commercial Real Estate. These are three markets with different dynamics, yet united by a shared need for specialisation, access to products and local knowledge.
Land: turning development potential into a product
Land is one of the major areas of opportunity in Spain. The difficulty lies not only in securing land for property development, but also in readying it for development. Planning, processing, town planning management, residential demand and developers’ capacity all form part of the same equation.
Aliseda manages one of the largest land banks in Spain. Its portfolio comprises 1,100 plots totalling over 20 million square metres of developable land with the capacity for more than 120,000 homes. Over the past year, the company has sold land with the capacity for more than 22,000 homes, worth over 435 million euros. Its position and knowledge of the area enable it to identify plots with development potential, drive their urban development, and connect them with national developers and operators who can bring them to market.
In a residential market characterised by a shortage of supply, transforming land into a viable product is of huge importance.
New-build projects: supporting the developer throughout the project
New-build properties are the second major area of focus. The value lies in supporting the developer throughout all stages of the project by providing expertise in market demand, product definition and positioning, commercial strategy, and sales capabilities.
Through EXCENT, over 4,000 homes built by property developers are now part of this initiative. This allows businesses to benchmark their product against the market, make more informed decisions, and access a nationwide customer base. Our relationship with developers is not limited to marketing; it is part of the support we provide throughout the project.
CRE: income, management and repositioning
Commercial Real Estate (CRE) rounds off the three main areas of opportunity. Aliseda manages over 1.5 billion euros’ worth of non-residential assets, including offices, logistics, industrial and retail assets.
CRE offers certain types of investor a key feature: the generation of recurring income. With the right assets and contracts, there is also the possibility of passing on price movements to rental income to a certain degree, thereby partially hedging against inflation.
But the non-residential sector requires a selection process. The performance of each asset is influenced by occupancy, property quality, location, investment requirements, lease terms, tenant quality, and the strength of demand. An office, a logistics facility or a commercial property may require very different strategies.
Come up with an idea before the opportunity reaches the market
Land, new-build developments and CRE all share the same advantage: Aliseda’s ability to operate on both sides of the market. The company has an extensive network, maintaining direct relationships with around 1,500 property developers and over 3,000 investors and family offices. This network enables us to identify what investors are looking for and to pinpoint owners, developers, assets or projects with the potential to lead to a deal.
This flow of information facilitates the creation of off-market opportunities and connects investors with domestic operators. Technology makes this easier: Aliseda is adding AI and new tools to make better use of available information, thereby improving efficiency and analytical capabilities.
In addition, specialist services such as EFFIC are available, focusing on refurbishment, energy efficiency and Energy Saving Certificates. Making changes to energy consumption, facilities or technical specifications can improve operating costs, enhance appeal to tenants and investors, and ultimately increase value for certain assets.
A multi-client real estate platform
The shift towards a multi-client model involves transferring large-scale capabilities to a more diverse client base.
For investors and family offices, this involves having a specialist who can understand their strategy and seek the appropriate opportunities. For a property developer, it is about having a partner who can support them from start to finish, including marketing. For property owners, it means being able to assess whether it is best to keep, renovate or sell.
This involves more than simply acting as a broker between existing supply and demand; it requires an in-depth understanding of both sides of the market in order to create opportunities, devise solutions, and connect capital with assets and operators that are not always accessible through conventional channels.
This is a phase in which value lies not only in asset management, but also in identifying the next opportunity and finding the right investor to turn it into reality. Aliseda is the best partner for investors and developers looking to achieve this.