Azora enters the US real estate market through a joint venture with Exan Capital | news

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European private equity manager Azora Capital has entered the US real estate market through a partnership with Exan Capital.

Azora Capital said it partnered with the Miami-based real estate manager to create Azora Exan.

Azora Exan company targets the office, residential, hospitality and senior housing sectors. The plan is to start new investments in the hospitality and housing sectors.

Cristina García-Peri, Senior Partner at Azora Capital, said: “We have already demonstrated our ability to expand our market leading Spanish business into Europe, through the vertical industries we are focused on, and previously with the success of Hispania REIT, Our next strategic goal was to set foot in the USA in order to further expand our platform internationally.

“The combination of Exan’s acquisition and investment capacities with the international reach and complementary industry expertise of Azora will enable us to offer our international investor base broader and more diversified strategies and better grasp the global megatrends for them.”

Juan José Zaragoza, founder of Exan Capital, said: “The two companies complement each other remarkably well. On the one hand, Exan has an apparently strong ability to raise capital for core and core plus real estate investments in the US. On the other hand, Azora brings its extensive expertise in raising capital for value-add strategies across Europe.

“This project will not only enrich the cross-border opportunities, but also significantly expand the business areas of our companies on both sides of the Atlantic.”

To read the digital edition of the latest IPE Real Assets magazine, click here.


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