Post by account_disabled on Mar 16, 2024 0:53:49 GMT -5
At the end of April, Azora completed the purchase of the fourth property of its residential rental fund in the United States. This is Elite Crossing, a multi-family residential complex of 210 homes that extends over a plot of about 7 hectares and offers its residents a wide variety of common areas that include a swimming pool, gym, basketball court and social club. The complex is located in a residential area of Atlanta (Georgia) near a logistics hub and a shopping center.
This is the second property that Azora manages in Atlanta, one of the top 10 American metropolitan areas by population.
Following this acquisition, and together with the three residential rental properties that Azora purchased last year, Azora exceeds a total investment of 170 million dollars and the management of more than 1,000 rental homes in strategic markets in the South and Southeast of the United States. (also known as the Sunbelt), consolidating its presence in the American market and demonstrating its execution power in the residential rental strategy.
Launch of a new investment vehicle
At the same time, Azora announces the second closing Phone Lead of its American residential fund created in 2022, and the launch of the first Closed Collective Investment Company in Spain , a new
investment vehicle regulated by the CNMV, Azora Multifamily SICC, SA, intended to channel the investment of Spanish capital in the American residential fund.
After landing in the US at the end of 2021, Azora decided to bet on the residential rental strategy in America, with the launch of its fund focused on affordable residential rentals in built and operational multifamily properties, but with potential for improvement in the Sunbelt This fund, created in April 2022, has a total investment objective of 650 million dollars (593 million euros at the current exchange rate) with an investment horizon of 3 years. The success of Azora's investment strategy in the American market has led to the creation of a new regulated vehicle that expands the possibility of diversifying Spanish capital investments in the most powerful, stable economy with the greatest legal security in the world.
"With this new investment vehicle, Azora proves to be, once again, a pioneer in fund structuring after establishing the first Closed Collective Investment Company in Spain to channel Spanish investment in the United States," says Fernando Pérez-Hickman, Managing Partner of Azora America.
For his part, Javier Heredia, Managing Partner of Azora's Real Estate Area, explains that “the creation of this new investment vehicle demonstrates that investors continue to recognize Azora as a market leader , and trust in our proven ability to detect investment opportunities. in the American residential sector and improve its performance through good asset management.
This is the second property that Azora manages in Atlanta, one of the top 10 American metropolitan areas by population.
Following this acquisition, and together with the three residential rental properties that Azora purchased last year, Azora exceeds a total investment of 170 million dollars and the management of more than 1,000 rental homes in strategic markets in the South and Southeast of the United States. (also known as the Sunbelt), consolidating its presence in the American market and demonstrating its execution power in the residential rental strategy.
Launch of a new investment vehicle
At the same time, Azora announces the second closing Phone Lead of its American residential fund created in 2022, and the launch of the first Closed Collective Investment Company in Spain , a new
investment vehicle regulated by the CNMV, Azora Multifamily SICC, SA, intended to channel the investment of Spanish capital in the American residential fund.
After landing in the US at the end of 2021, Azora decided to bet on the residential rental strategy in America, with the launch of its fund focused on affordable residential rentals in built and operational multifamily properties, but with potential for improvement in the Sunbelt This fund, created in April 2022, has a total investment objective of 650 million dollars (593 million euros at the current exchange rate) with an investment horizon of 3 years. The success of Azora's investment strategy in the American market has led to the creation of a new regulated vehicle that expands the possibility of diversifying Spanish capital investments in the most powerful, stable economy with the greatest legal security in the world.
"With this new investment vehicle, Azora proves to be, once again, a pioneer in fund structuring after establishing the first Closed Collective Investment Company in Spain to channel Spanish investment in the United States," says Fernando Pérez-Hickman, Managing Partner of Azora America.
For his part, Javier Heredia, Managing Partner of Azora's Real Estate Area, explains that “the creation of this new investment vehicle demonstrates that investors continue to recognize Azora as a market leader , and trust in our proven ability to detect investment opportunities. in the American residential sector and improve its performance through good asset management.