AltamarCAM Partners and Terralpa Investments have reached a partnership agreement and will be launching a new vehicle to invest in high-end residential projects in Madrid and other Spanish cities. This new vehicle -which will be approximately €200m in size- aims to take advantage of the favourable long-term fundamentals of the high-end residential segment where both AltamarCAM and Terralpa Investments have extensive experience.
This new alliance is in line with AltamarCAM's strategy to increase its direct investment activity in real assets through structured platforms with key players. In fact, over the last few years AltamarCAM has invested more than €750m in this type of vehicles through various platforms in segments such as student housing, senior housing, multifamily and high-end residential. Three of these vehicles have subsequently been sold to leading international investors.
Terralpa has become a leading player in the luxury residential market having invested €200m in four years and developed major projects in Madrid (Spain) such as Marqués de Salamanca 11, Monte Esquinza 5, Zurbarán 26, Martínez Campos 19, Santa Engracia 65 and Nuñez de Balboa 3.