European private equity manager Capital has entered the US real estate market via a partnership with Exan Capital.
said it has partnered with the Miami-headquartered real estate manager to form Azora Exan.
The Azora Exan venture intends to target the office, residential, hospitality and senior living sector. It plans to begin with new investments in the hospitality and residential segments.
Cristina Garc铆a-Peri, a senior partner at Azora Capital, said: 鈥淗aving already proven our ability to expand our market-leading Spanish business into Europe, across the verticals we focus on, and previously with the success of the Hispania REIT, our next strategic goal was to set foot in the US in order to continue growing our platform internationally.
鈥淐ombining Exan鈥檚 acquisition and investment capabilities with Azora鈥檚 international reach and complimentary sector expertise will allow us to offer broader and more diversified strategies to our international investor base and to better capture the global megatrends for them.鈥�
Juan Jos茅 Zaragoza, founder of Exan Capital, said: 鈥淏oth companies complement each other remarkably well. On one hand, Exan has a manifestly strong ability to raise capital for core and core-plus real estate investments throughout the US. On the other hand, Azora contributes its substantial expertise in raising capital for value-add strategies around Europe.
鈥淭his venture is not only sure to enrich cross-border opportunities but will also represent a considerable expansion in our companies鈥� business lines on both sides of the Atlantic.鈥�
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