We are determined to generate useful spaces for the assets' users, to respect the environment, and to integrate the communities where the assets are located.

We generate value through interventions that help adapt office spaces to new ways of working. We take advantage of our knowledge and extensive experience.

United States
Spain Poland
Czech Republic
0
icon-up AuM (€M)
0
icon-up Sqm
0
icon-up Porfolio
0
icon-up AuM (€M)
0
icon-up Sqm
0
icon-up Assets
0
icon-up AuM (€M)
0
icon-up Sqm
0
icon-up Assets
Total
Current
Realized

Megatrends driving our investments

Sustainability is here to stay . There is no way back. Demand in ESG and green buildings is rising daily. Environmentally friendly buildings are more likely to attract occupiers in the medium terms.

Developers need to fully integrate this powerful Trend in their strategy to be successful and deliver to Investors product highly competitive.

Actors of the office Real Estate Market must visualize this new situation not as a constraint but as huge opportunity to regenerate our office stock and pipeline

Juan José Zaragoza & Jean Marc Parnier US Partner & Senior Advisor
Juan José Zaragoza & Jean Marc Parnier

Investment Portfolios

Spain Offices

4 assets
56
AuM (€M)
24,400
Sqm

We identify value-added investment opportunities in Spain and currently manage three office assets in Madrid.


In each case, we apply Azora's strategy of rethinking the purpose of the asset, transforming and managing it over the long term to maximize value.

US Offices

17 assets
818
GAV ($M)
1,6
M sq. ft.

Azora Exan has deep experience buying office properties within the main markets in the US. We target prime locations within these markets, and we create value via an intensive capital plan for or active asset management.

Azora Europa

This vehicle was established in 2007 to invest in real estate assets - largely office buildings - in Eastern Europe, principally Poland and the Czech Republic. The divestment was completed at the end of 2019. At that stage Azora Europa had acquired more than 100,000 sq m of gross leasable area with an occupancy rate of close to 100%.

270

Max. AuM (€M)

12

Max. Portfolio

107,703

Max sqm
Hispania

Azora launched Hispania Real Estate Investment Trust in 2014 to focus on creating a high-quality portfolio of real estate assets including residential, offices and hotels located across Spain. Following its IPO in March 2014, Hispania raised over EUR1 billion from investors through three capital increases.

Through Hispania, Azora became Spain’s largest owner of resort hotel rooms with more than 13,000 keys across 46 hotels. Over the years, these hotels were gradually repositioned, so they be managed by established operators under long-term lease contracts. In the office segment meanwhile, by the end of 2018, Hispania had a portfolio of more than 156,000 sq m of space across 25 buildings in the main business districts of Madrid and Barcelona. The last tranche of the Hispania portfolio was made up of 5 built-to-rent buildings in Madrid and Barcelona with a total of over 550 homes.

In July 2018, Azora sold the investment platform Hispania to Blackstone. At the time, it had EUR 2 billion of investments in hotels, over EUR 667 million in offices and over EUR 232 million in residential assets. The sale generated an internal rate of return - an annualized measure of performance - of 19% for Hispania’s shareholders. Azora concluded its management mandate for Hispania in February 2019.

26

Max. Portfolio

186,745

Max sqm