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Primary Homes Spain (“Q21”)
Platform:
Primary Homes Spain (“Q21”)
Year Established:
2015
Sector:
Residential
Region:
Spain
Total Capitalization:
$1.1 billion

As of December 2020

Investment Highlights

  • After the Global Financial Crisis, labor and bank reform created the propensity for economic growth in Spain.
  • The for-sale residential sector in Spain experienced significant pent-up demand for housing given seven years of near stand-still in homebuilding.
  • Alpine Grove partnered with an experienced local developer to acquire land with development potential to meet primary home demand, concentrated in and around Madrid.
  • Primary Homes Spain assembled a portfolio by purchasing land parcels from local banks and developers in attractive locations.
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