Azora and Oquendo Capital have joined forces to launch a €300m fund to offer alternative real estate financing in Spain and Portugal.
Azora, a €4.5bn Spanish real estate manager has created the partnership with alternative direct lender Oquendo to promote closed-end investment vehicles to finance projects or companies linked to the real estate segments.
The duo said this strategy will be carried out through the launch of a first fund with an expected size of €300m, as well as though separate accounts.
The investment strategy proposed will focus in offering flexible financing solutions for small and medium-sized real estate transactions with a moderate risk profile, and with a unique access to deal flow given the track record in the real estate and direct lending markets of both partners.
Concha Osacar, a founding partner of Azora, said: “The creation of this alliance fits in Azora’s strategy to lead the development of new business areas backed by megatrends.
“To achieve this, we have partnered with specialised direct lending partner, which together with our vast real estate experience, will allow us to differentiate from other direct lending investors accessing a better deal flow and always with the objective to maximize returns for our investors.”
Alfonso Erhardt, a founding partner of Oquendo, said: “The Spanish real estate sector is an excellent market where to obtain attractive returns financing real estate projects with a prudent, flexible and creative investment policy.
“For this strategy, Azora’s track record and management capacities makes them the best partner for Oquendo and together we will lead this great market opportunity.”