10 June 2019 – Eje Prime
Patron Capital is on the hunt for property developers to team up with to invest up to €60 million in the residential sector in Spain over the medium term.
In this vein, the company has already signed its first two joint ventures through which it plans to invest €30 million. The names of the property developers in this case have not been revealed.
The fund’s investment formula through joint ventures sees it contribute 80% of the capital, with the remaining 20% provided by the property developers.
The company currently has eight investment vehicles in Spain, which invest in tourist apartments, retail parks and office buildings. The agreements with the two local property developers will be its first foray into the residential sector.
Original story: Eje Prime
Translation/Summary: Carmel Drake