15 July 2019 – Richard D. K. Turner
A short-lived alliance between Azora and Oquendo Capital, designed to facilitate access to alternative financing for companies in the real estate sector, has ended before it really even had begun. The two firms initially planned to raise €300 million to finance debt and other operations linked to the real estate sector. However, after just eight months and €40 million, Azora and Oquendo are now negotiating how the end their partnership.
Since November, Azora and Oquendo Capital had been attempting to raise €300 million to directly finance small to medium-scale real estate projects in Spain and Portugal. The two firms had planned to focus on land, logistics and the hospitality sectors.
Sources are pointing to possible disagreements regarding the distribution of commissions. Both companies declined to comment.
Original Story: El Confidencial – E. Sanz / C. Hernanz