Dazia Capital and BGO partner for €500m Spanish residential investment

Spanish real estate company Dazia Capital has partnered with global real estate investment manager BGO to invest an estimated €500 mln in residential developments across Spain. 

Madrid

This collaboration will focus on city centres, metropolitan areas of major Spanish cities, and popular second-home destinations.
Their first joint project is a new construction of 160 homes, complete with a pool, garage, and common areas, in Madrid's Berrocales neighbourhood, designed by Lamela architectural firm. Construction is slated to begin next year.
Under the agreement, Dazia Capital will co-invest, manage, and develop these projects through its residential brand, Darya Homes. BGO, with $89 bn (€76 bn) in assets under management and significant experience in the Spanish residential market, will provide global reach and strengthen the partnership's ability to identify and execute high-value projects.
Daniel Mazin, CEO of Dazia Capital, views this alliance as a strategic move to meet Spain's growing residential demand, combining Dazia's development expertise with BGO's investment capacity. He noted that Spain's housing market needs about 200,000 new homes annually but currently builds only half that number, amidst a growing economy and population influx into urban and second-home areas.
Javier López Galdos, BGO's managing director in Spain, emphasized the continued investment opportunity in Spain's residential sector due to a structural housing deficit and expects numerous transactions from this joint venture.
This partnership pushes Dazia Capital's assets under management to €2 bn, solidifying its position as a leading player in the Spanish residential sector and reinforcing its ties with international institutional investors.