Anta Asset Management and TQ Eurocredit have launched a real estate debt fund to finance residential developments across Spain, targeting a capital raise of €60m (£51.9m).
The fund will initially focus on new residential schemes, particularly in provincial capitals and along the Mediterranean coast, while also pursuing opportunities elsewhere in the country.
Alternative financing firm TQ Eurocredit and Spanish asset manager Anta said projects financed through the vehicle will range from luxury housing developments to primary residential schemes in capital cities.
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“With this fund, we aim to bring to the market a product that is aligned with the critical situation facing Spain’s housing sector,” said Fernando Morales, executive chairman of Anta. “By channelling investment into residential developments, we seek to help address the housing shortage across different market segments while supporting the creation of new housing supply.”
The firms said the Spanish Securities Market Commission (CNMV) approved the vehicle on 5 June. The fund has an open-ended, semi-liquid structure and is targeting an annualised net return of eight per cent.
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“We are very pleased to receive the CNMV’s approval for the first real estate financing vehicle launched jointly with Anta Asset Management,” said Antoni Quintana, chief executive of TQ Alternative Investments. “This represents another important step forward in a rapidly growing sector where demand for alternative financing is at historic highs.”
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