Real
Estate

The real estate market in Spain is full of post-crisis opportunities with potential for significant value appreciation

Approach

Eneas real estate is one of the leading and most experience teams in Spain with a track record of over 20 years. Our team employs a straightforward investment strategy consisting on targeting returns above 15% IRR on a single asset basis, concentrating on assets that are part of complex environments / scenarios. One of the team´s key strengths is their granular and in-depth knowledge of the proceedings, licensing and urban planning across the main Spanish cities which international firms lack. The partners also have significant experience across all the different type of assets from NPLs to straight forward developed assets all over Spain and are able to do deals between €5m to €25m which is a segment where there is a very limited number of institutional and experienced teams.

The partners seek to acquire assets with hidden value at a discount to replacement cost, addressing property or business issues through hands-on management and target value-added initiatives preparing for future sale of those assets.

We unlock complex solutions to outperform

Strategy

The real estate team takes a value-oriented approach and will invest in assets located in primary and secondary cities. The partners begin with an in-depth market analysis to identify asset classes, geographies and capital structure they believe will outperform in the current economic environment and generate returns above 15% IRR. For that to be achieved, they search for value-added opportunities through the acquisition of the asset or its debt (NPL).

Current Portfolio