- ABOUT -
In partnership with Dazia Capital, a Spanish operator and investor dedicated to the acquisition, renovation and split sale of residential buildings principally in Madrid, Eurazeo Patrimoine has created in May 2018 a joint venture named Dazeo.
A three-year equity investment program of €70 million for Dazeo, involving transactions to be completed in Madrid, Barcelona, Valencia and the Costa del Sol. A designated acquisition for comprising three buildings in Madrid (Alcala, Santa Engrancia, and Santa Isabela), of which the first, Alcala, has also been signed as of today (encompass a total of 2,600 m2, including a 23 apartments).
The partnership offers an attractive risk-return ratio for Eurazeo Patrimoine, as demand for downtown housing increases in Spain in the midst of an economic recovery.
In setting up this joint venture, Eurazeo’s goal is, to develop a value-added residential investment platform that will strengthen Eurazeo’s position on the Spanish market. The strategy is based on the significant investment needed to improve existing buildings in major cities or to build new ones and meet the growing demand of the population who wish to return to live in the city centre, held back by the obsolescence of the park.