The management and consulting company Abante presented its new project this Wednesday, an investment fund geared towards the real estate sector, focusing on Socimis, hotel companies and other companies that are part of this market.
This new plan, explains Santiago Satrústegui, will serve to “close the circles” that they lacked to advise their clients in all possible sectors.
It will be a European fund that will try to give the Spanish market a 60% weighting, mainly in Sozimis, while the rest is in the old continent market.
José Ramón Iturriaga, partner of Abante and protagonist of the project, sees a increased interest in real estate investments which are listed on the stock exchange due to their current development, after they were severely affected by the constantly rising rates in the past year, but can only make “better assessments” if “The future of interest rates is clearand the development of the market.
The commission for this fund, which will be approved by the National Securities Market Commission (CNMV) in the coming weeks, is 1.25%.
Vitruvio, the manager’s socimi after the creation of 360º CorA in 2022, will play an important role in this new project, especially given the announcement of a capital increase of 30 million. This body, chaired by Joaquín López-Chicheri, is an “example of the definition of moderate risk” with an average debt of 25%, several figures below its limit (33%).
Referring to the recent housing law that has been unveiled in recent weeks, Abante is clear that it is not the ideal solution: “There are policies that work, but the recently announced ones don’t seem to be the case,” says Joaquín López-Chicheri, partner of the company. “In the factual investigations carried out, there is consensus that the intervention in the rental price does not achieve the intended purpose.”
Likewise, they add that this project is a clear example of the “necessary professionalization” that the sector must go through, all the more after the intention to pass the new housing law, which they understand will have a direct impact on their clientele becomes .
Abante has decided to embark on this new adventure after “tripling the assets managed and advised over the last 5 years”, all made possible “thanks to the integrations carried out over the last 3 years”, such as the aforementioned 360°CorA, the the “team specialists”