Global asset manager AltamarCAM Partners and Spanish residential property investment manager Terralpa Investments are planning to invest €200m in luxury residential projects in Madrid and other Spanish cities.

The duo said they plan to launch a new vehicle to invest in projects and capitalise on the “favourable long-term fundamentals” of the high-end residential segment where both firms have experience.

AltamarCAM said the partnership is in line with its strategy to increase its direct investment activity in real assets through structured platforms with key players.

AltamarCAM has in the past few years, through funds, invested over €750m in assets such as student housing, senior housing, multifamily and high-end residential.

Founded in 2017, Terralpa is focused on value-add opportunities in the high-end residential sector in the Spanish market. The company has invested €200m in four years and developed major projects in Madrid.

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