Azora

Kempen is pleased to announce that it acted as sole financial adviser in the €870m Spanish residential sale to CBRE GIP and Madison International Realty

• CBRE Global Investment Partners and Madison International Realty have acquired a Spanish residential portfolio with 6,458 units and a gross asset value of €870m as part of the recapitalization of a fund managed by Azora
• The portfolio is focused on the multi-family rented market in Spain’s main geographies with c.70% exposure to Madrid
• Azora will continue to manage the portfolio

• Azora is a leading Spanish independent Real Estate asset and fund manager with over €4.4 billion in assets under management
• Azora’s platform is one of the largest in Spain, with a team of more than 200 professionals with extensive experience across the real estate value chain
• Azora is specialized in four assets classes: residential, hotels, offices and student housing
• Its investments are channelled through different public and private vehicles, including Lazora and Hispania Activos Immobiliarios
• Azora currently manages the biggest volume of dwellings under rent in Spain, more than with 13,000 dwellings and the biggest hotel portfolio under rent in Spain, with more than 14,500 hotel rooms