The Azora Group has been a pioneer in the rented residential segment (having started investing in the space in 2003), currently manages various third-party vehicles and is one of the largest investment managers of residential assets in Spain.

In addition to investment management, in the residential segment Azora also provides property management services through Azzam, a fully owned subsidiary. Azzam currently manages more than 14,000 homes on behalf of various vehicles (both managed by Azora but also by third parties), distributed in the main Spanish cities and with a value of close to €2,300 million.

In the residential vehicles advised and / or managed by the Azora Group, the investment strategy includes active property management, as well as various improvement and repositioning initiatives, aimed at generating attractive returns for the vehicles’ investors.

The vehicles managed by the Azora Group focus on investing in affordable rental housing, which has proven to be a successful strategy throughout the different economic cycles.

In its residential strategy, the vehicles advised and / or managed by the Azora Group have completed the retail sale of more than 3,300 units and have renovated more than 2,500 homes, substantially increasing the value of their portfolios accordingly.

Characteristics of the properties:
  • Homes for rent with or without the option to buy.
  • Affordable rental prices.
  • New homes or completely renovated.
  • Careful design, quality materials and integrated into the environment.
  • Equipped with services and equipment: swimming pool, gym, paddle and tennis courts, children's area.
 

Lazora, S.I.I., S.A. is a Real Estate Investment Company managed by Azora Gestion, S.G.I.I.C., S.A. with capital mainly from third parties and in which entities and individuals linked to the Azora Group have contributed less than 5% of the capital. It was the first investment vehicle managed by Azora, created in 2004 on behalf of Spanish institutional investors. Lazora was established in two tranches to invest in the residential and student housing segments in Spain. The student housing platform was subsequently divested in November 2017. For more information on the Student Housing portfolio, please refer to section:

disvestment

Lazora has become one of the largest rental housing companies in Spain.



At the end of 2018, at the request of Lazora’s shareholders, Azora initiated a process to allow existing shareholders to exit the vehicle. This led to the replacement of the prior shareholders by CBRE GIP and other foreign institutional investors who, in turn, committed new capital to continue investing in rental housing in Spain.

As of December 2020, Lazora had more than 8,000 rental homes, distributed in 94 buildings throughout Spain.

Lazora has become one of the largest investment platforms dedicated to rental housing in Spain.

Lazora is present in 9 communities and 15 Spanish provinces:

- Andalusia
- Aragón
- Asturias
- Canary Islands
- Castilla y León
- Catalonia
- Madrid
- Valencian Community
- Galicia

Characteristics of the properties:
  • Homes for rent with or without the option to buy..
  • Affordable rental prices.
  • Careful design, quality materials and integrated into the environment.
  • Equipped with services and equipment: swimming pool, gym, paddle and tennis courts, children's area.

    If you are a tenant
    or want to be one,
    VISIT THEIR WEBSITE
    You can find a home and solve your doubs

PORTFOLIO

 

In 2013, Azora and Goldman Sachs created EnCasa Cibeles, a joint venture advised by Azora Capital, S.L., with the aim of acquiring and managing a residential portfolio from the Madrid Housing Institute (IVIMA), in Spain.

EnCasa Cibeles invested a total of €200 million in an initial portfolio that included more than 3,000 rental homes under public protection.

EnCasa Cibeles follows a housing management and divestment policy that, as of December 2020, had more than 1,700 homes distributed in 31 buildings located in the Community of Madrid.

Characteristics of the properties:
  • Homes for rent with or without the option to buy..
  • Affordable rental prices.
  • Careful design, quality materials and integrated into the environment.
  • Equipped with services and equipment: swimming pool, gym, paddle and tennis courts, children's area.

PORTFOLIO

 
 

In July 2019 Azora, together with CBRE GIP, created a joint venture advised by Azora Capital, S.L. in order to acquire two land plots located on the site of the old Vicente Calderón Stadium in Madrid, on which to develop homes for sale.

The plots, which are part of the Nuevo Mahou-Calderón project, have a unique location next to the Manzanares River and within Madrid Rio.

The development will have a total of 373 design homes with high quality finishes from 1 to 4 bedrooms and distributed in two 12-storey buildings.

River Park will offer different services such as: paddle tennis courts, swimming pools, solarium, children's area, gym, and various green areas, among others.

Gestilar is responsible for developing and marketing the project.

Characteristics of the properties: :

  • Development of 373 homes.
  • Careful design, quality materials and integrated into the environment.
  • Equipped with various services and equipment: swimming pool, gym, paddle and tennis courts, children's area.

If you want to know more about this residential development, VISIT THEIR WEBSITE

 

DEVELOPMENT