Alternative real estate financing firm Xenia Capital and funds managed by Oaktree Capital Management will invest €220 mln in the Spanish real estate sector until September 2023.
The two partners are financing residential projects, co-living, BTR, student residences, tourist apartments and aparthotels, five-star hotels and other alternative assets.
Both have already contributed with €128 mln in financing and are closing deals for €90 mln over the next three months during the due diligence phase.
Xenia CEO, Rory Buchanan, said: ‘The agreement with Oaktree represents an opportunity to provide private capital for the development of the Spanish real estate sector, allowing it to extend its range of action to the entire development of the project and to finance it from start to finish, and he is confident that it is the first step in a lasting alliance that will create value for the country and for investors.’
Gonzalo Barrios, managing partner of Xenia, added: ‘The coexistence between traditional and alternative financing is essential for this market; it is important to see it as an opportunity that provides the sector with greater liquidity at any stage of the project.’
Xenia Capital has so far financed the development of 2,000 homes and with Oaktree's backing is seeking to diversify the range of products and solutions and broaden its range of operations.
