Azora, a Spain-based global investment firm, and the Miami-based real estate investment and management corporation Advenir announced a new strategic partnership aimed at creating thousands of attainable rental housing units in key US markets.
The deal creates a new, combined corporation called Advenir Azora that will be a vertically integrated platform spanning acquisition, development, asset management, property management, and fund services capabilities, ensuring a full-spectrum approach to investor value creation and resident well-being. Azora Advenir is expected to deploy more than $3 billion over the next five years with the goal of developing at least 10,000 new single-family rental homes and acquiring 5,000 existing units.
“Investing in and with Advenir is a further expression of Azora’s long-term conviction to help create quality multi-family and single-family rental homes in the US,” said Fernando Pérez-Hickman, managing partner and head of Azora America. “More than just good business, this endeavor will help countless families. Advenir’s operational excellence, local expertise, and similar principles make them an ideal partner as we continue to seek value in investment opportunities across the United States.”
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