• Transaction / Assets
    5,000m2 residential plot, Estepona
  • Seller
  • Buyer
    Dazeo
  • € MM
    15

Dazeo Acquires a 5,000m2 Plot in Estepona to Build 20 Luxury Apartments for €15M

10 September 2018 – Eje Prime

Dazeo has closed its first operation following its creation. The joint venture between the Spanish real estate firm Dazia Capital and the French fund Eurazeo, has invested €15 million in the development of a 20-unit luxury apartment complex in Estepona.

The company has acquired a plot of land spanning 5,000 m2 on the coast of Málaga. The project, which will be undertaken by Arata Arquitectura, will house twenty apartments with terraces, a swimming pool, gardens, a spa and a gym.

Following this first purchase, Dazeo is planning to undertake further acquisitions in Madrid, Málaga and Valencia. The group is going to spend €70 million on residential projects in urban nuclei in its first phase. The joint venture, controlled by Eurazeo, will grow to reach €250 million, according to forecasts.

In addition to its venture with the French fund, Dazia Capital has signed other international alliances in recent years. In 2017, for example, it closed an agreement with the British fund Chenavari. Over the last four years, the Spanish real estate company, created in 2013 by Daniel Mazín, has acquired buildings and land with a surface area of 86,000 m2 and 500 homes located in Madrid and the Costa del Sol.

Original story: Eje Prime

Translation: Carmel Drake

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