British company’s €250 million Spanish investment

Greykite, a British investment fund, has earmarked up to €250 million for real estate acquisitions across Spain.

This initiative marks Greykite’s inaugural venture into the Spanish market, furthering its real estate investment strategy.

Entering the Spanish market

Founded last year by Michael Abel, a former partner at the investment firm TPG, Greykite is setting its sights on the Iberian market.

The fund’s focus will be on major cities including Madrid, Barcelona, and Malaga, known for their strong economic and demographic fundamentals. The fund is actively tracking opportunities in these major capitals, drawn by factors such as projected GDP growth and ongoing urbanisation, Greykite explained to EjePrime.

Strategic investments and partnerships

Greykite’s strategy involves significant capital allocations, hoping to achieve a minimum investment of €250 million in Spain.

With an aim to rotate assets within four to six years, the fund is not only focusing on traditional real estate like industrial spaces and logistics but also on alternative sectors such as student residences, hospitality, and warehouses.

Greykite has already forged a strategic alliance with Capital Constellation, managed by Wafra and Leucadia Asset Management, to bolster its investment framework.

Long-term commitment despite current challenges

Despite a 14 per cent decline in investment during the first quarter compared to last year, Greykite remains optimistic about Spain’s long-term prospects. Although current market conditions show ‘significant disruptions. . . and lower level of investment activity, it is no different from most other European countries,’ they stated.

This sentiment underscores their commitment to establishing a robust presence in the Spanish real estate market over the coming years.

Greykite is well-prepared for this expansion with a team of ten, including professionals who have previously worked for prestigious firms like TPG, Goldman Sachs, Morgan Stanley, and Oaktree.

This diverse team underscores a serious commitment from Greykite to leveraging top talent to drive its investment success in Spain.