Holland & Knight Advises Azora in $3 Billion Partnership with Advenir to Address U.S. Housing Shortage
MIAMI (October 31, 2024) – Holland & Knight advised Spain-based global investment firm Azora in a partnership with Advenir, a U.S.-based real estate investment and management corporation. The combined company, Advenir Azora, aims to create attainable rental housing in key markets across the U.S. The deal was announced on October 3.
Advenir Azora 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. Advenir Azora is expected to deploy more than $3 billion over the next five years to develop at least 10,000 new single-family rental homes and acquire 5,000 existing units.
Azora, headquartered in Madrid with a dedicated U.S. team based in Miami, is a leading international alternative investment management platform. Managing more than $11 billion in assets across residential, hospitality, logistics, office and renewable energy sectors in Europe and the United States, Azora has a proven track record of delivering value through innovative investment strategies and active asset management.
Based in Aventura, Florida, Advenir is a national leader in traditional multifamily and purpose built, single-family home rental communities with nearly $5 billion invested in multifamily and single-family rental communities since its inception in 1996.
Holland & Knight Partners Roberto Pupo and Walker Brierre led the firm's representation of Azora. They were assisted by Associates Tim Strother, Kelsie Knight and Stephen McCallister.
More information on the transaction can be found here.
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