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Andbank launches new fund to invest €50M in Portugal

Andbank España launched a new real estate investment vehicle focused in Portugal, together with the manager Albatross and the Portuguese real estate Quantico, the Albatross Iberian Re Renovation Fund I, with which wants to attract €50 million and obtain a profitability of 12% in 6 years.

So far they gather €37 million in 2 months, and the idea is to attract more qualified investors to invest a minimum of €250,000.

According to Spanish Real Estate, Andbank commitment with Portugal is justified with tax incentives granted to urban regeneration, a new rental law in force, and the available supply to regenerate. The strong demand of international buyers and investors is also a factor of interest.