Real estate AI data technology company Casafari has set up a new single-family renting (SFR) division to build residential rental portfolios across Europe on behalf of investors.
The plan is to attract €50 mln in investment in 2023 and €100-200 mln in the following years.
The supply of long-term rental properties is shrinking (below 10% in southern Europe) due to high inflation, rising energy costs, interest rates, and a drop in new constructions, boosting investor interest in the SFR asset class.
Initially, the new SFR unit will focus on Portugal and Spain, before extending its activities to France and Italy in the near future.
A new team has been created, which will manage portfolios on behalf of investors.
Joining as head of real estate, Tiffany Yiu is a former executive at Round Hill Capital with a banking and structured finance background (Credit Suisse, JP Morgan).
The head of finance, Javier Vidal, comes from Stoneweg where he was a real estate investor.
Additionally, he has experience in private equity and venture capital, structured finance, corporate M&A and law (Seaya Ventures, Realza Capital, Moody's Investors Service and Uría Menéndez).
The new head of capital markets, Carlo Magnoni, is a former acquisitions director at Stoneweg, and currently a Carlyle board member with 20 years in real estate investment including Blackstone.
Casafari serves over 50,000 real estate professionals, analysing 250 million listings from 30,000 sources in countries such as Spain, Portugal and France.
Customers include Cerberus, Kronos, Vanguard, Masteos, Casavo, Sotheby’s International Realty, Coldwell Banker, Century 21, Savills, JLL, Engel & Voelkers, and Keller Williams among others.
