Aticco and All Out Partners have joined forces to invest in flexible office space through the launch of a €180 million real estate fund specialising in this type of asset.
The purpose is to invest in the acquisition, repositioning and operation of flexible office spaces in strategic locations across major cities in Spain and Portugal. Specifically, the firms plan to build a portfolio of assets spread across Madrid, Valencia, Málaga, Porto, Bilbao, Zaragoza and Palma de Mallorca, which will be managed by the Barcelona-based company.
The fund’s strategy is based on a framework of management contracts and the optimisation of assets through architectural improvements, with the aim of transforming traditional spaces into fully furnished products with flexible contracts.
Both companies expect to achieve an internal rate of return of 11.5% with this vehicle and hope to raise capital from institutional investors specialising in offices, as well as from private investors, family offices and family-owned businesses.
“The initiative comes at a time of profound change in the office market, where flexibility has established itself as one of the sector’s main drivers of growth”, stated Aticco.
“The flexible office model is no longer merely an alternative, but a strategic solution increasingly adopted by large corporations, international companies and businesses undergoing organisational transformation”, added the company.
