Atalaya sets its sights on flex living. Mazabi's subsidiary has launched Atalaya Desarrollos Residenciales, a vehicle with an investment capacity of 20 million euros aimed at buildings with unique characteristics for medium and short term rental, including flex living and tourist models.
"Through it, we want to consolidate our position in the residential segment, where we detect investment opportunities, especially in central areas of the main capitals within the peninsula and also on the coast with a significant lack of housing supply," said Ignacio Bezares, managing partner at Mazabi.
Atalaya Residencial's strategy with this new company involves investing in residential properties that have distinctive characteristics and are between 1,000 and 4,000 square metres in size. To this end, a specific plan will be implemented to add value, which may include complete renovation, improvement of its market position, or even the construction of new projects.
The company indicates that these developments will be oriented towards a type of tenant looking for medium to short term rentals. The company suggests that these properties could be suitable for implementing new housing models, such as flex living or, where appropriate, for direct use as tourist accommodation.
"The rise in interest rates by the European Central Bank (ECB) represents a clear opportunity for equity investors like us", adds Ignacio Bezares, who has highlighted that the creation of this new investment company completes the Atalaya Residencial project, present in the market since 2014 in different real estate areas.
In this way, Atalaya Residencial has since promoted the creation of four investment vehicles focused on various initiatives: the acquisition of residential land, especially focused on the Madrid region; the development and investment in unique buildings located in central areas of the main capitals, oriented towards short and medium-term residential projects; and the development of luxury villas in the regions of the Costa del Sol and the Balearic Islands.
