CaixaBank awards Azora the management of its housing portfolio
- The contract includes the coordination and control of all asset management services for CaixaBank's rental asset portfolio.
- Azzam Vivienda, a subsidiary of Azora, will assume the contract, making the Azora Group the undisputed leader in the management of rental housing in Spain.
Madrid, May 25, 2023. – Azora has been chosen by BuildingCenter, CaixaBank's real estate subsidiary, for the asset management of its entire portfolio of rental housing and other assets. The award, made through a competitive bidding process, makes Azora the leading manager of rental housing in Spain.
The management contract, signed for a renewable period of 2 years, will be assumed by Azzam Vivienda, Azora's real estate asset management subsidiary. This contract includes the coordination and control of all the actors involved in the management of the portfolio, as well as the execution of certain asset management services.
On the other hand, as highlighted by CaixaBank in the award, Azora will also assume in the future the asset management of the rental properties in Bankia's portfolio until now managed by Haya Real Estate, once the recently announced acquisition of Haya Real Estate by Solvia-Intrum takes place.
Azzam Vivienda is a real estate asset management company with more than 15 years of experience, specializing in providing global residential management services to investment vehicles. It currently manages 10 residential portfolios with more than 12,000 homes distributed in more than 180 buildings located throughout Spain. Following the award of the CaixaBank portfolio, Azzam Vivienda becomes the undisputed leader in rental housing asset management in Spain.
Concha Osácar, founding partner of Azora, said: “The award of this major contract is undoubtedly a milestone for Azora because it is a recognition by such an important real estate player as CaixaBank of our leadership in the market, and demonstrates the confidence they place in our ability as managers of rental housing in Spain”.
Tomás Morín, General Manager of Azzam Vivienda, said: “The professionalism, experience and adaptability of our team has allowed us to be awarded this contract by such a demanding client as CaixaBank. This milestone consolidates our position as the reference company in Spain for the management of rental housing assets”.
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