With a clear objective of expanding their reach ambitiously, they sought our expertise.
Client story
16 July 2024
Strategic advisory in DeA Capital’s Spanish market entry
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Location
Spain
Spotlight
Capital Markets, Living, Debt Advisory
Navigating new markets requires more than just capital; it demands a deep understanding of local dynamics and strategic partnerships. DeA Capital, an Italian asset manager with €28 billion AUM, of which €14 billion is invested in real estate, faced these challenges as they aimed to establish a Build-to-Rent (BTR) platform in Spain.
Ambitious to expand their footprint, they enlisted our expertise with a clear objective: to find an equity partner for their project.
Spain’s burgeoning BTR sector
The Spanish urban residential sector is increasingly attractive to international investors. Our extensive market knowledge was instrumental in positioning this BTR platform to tap into the growing demand for residential properties. Our insights enabled DeA Capital to not just enter but effectively compete in the Spanish market.
JLL Spain’s Living Capital Markets team supported DeA Capital with equity raising, due diligence and negotiations. The integration of our debt team was crucial; not only did they facilitate the equity raising process, they also managed to close the debt component.
"Our integrated Living team and specialized debt team exemplified our 'OneJLL' approach, streamlining the transaction process to ensure DeA Capital could understand and execute the project from multiple angles”
- Juan Manuel Pardo, Executive Director, Investment Sales & Acquisitions
Smooth, scalable market entry
Identifying and securing the right financing partner was pivotal to the deal’s success, ensuring that DeA Capital's market entry was both smooth and scalable and we secured deal with Harrison Street – an investment management firm focused on real assets – to fund the project. The collaboration resulted in the launch of a 2000-unit residential multifamily platform, with 1700 units already acquired and further expansion planned.
First JV deal for JLL Living
Beyond the project’s scale and success, this was the first joint venture closed by JLL’s Living Capital Markets team. The project paves the way for subsequent joint ventures in Europe’s booming residential real estate market.
Furthermore, our extensive network, market insights and integrated service offerings have positioned DeA Capital for sustained growth and success in the Spanish real estate market and beyond.