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Alantra beats target to close €132 private debt real estate fund

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Spanish asset management house Alantra has held a €132m close for its private debt real estate fund, exceeding its initial target of €100m.

The firm said the fund, Alteralia RED, will offer loans of between €5m and €20m on commercial real estate assets in Spain and other European countries including offices, retail, hotels, logistics, student residences and private rented sector and other alternative assets. The loans can be used for acquisition of real estate assets, refinancing existing debt or funding for renovation or repositioning works.

It has already completed one investment and expects to close two more shortly, the firm added.

Jaime Cano, partner at Alantra Private Debt, said, “We are pioneers in offering alternative financing in the Spanish real estate mid-market for investors looking for flexible terms at single-digit cost. We are convinced that we will successfully deploy the Alteralia RED’s capital and deliver a strong performance with a growing pipeline and the team’s solid track record.”

Alantra has more than €1.2bn in AUM throughout its direct investments business and strategic partnerships. It hit an €80m first close for a new energy transition fund in June which was raised in partnership with listed infrastructure manager Enagás.

It secured most of its commitments of its €300m-targeting Fund III and raised €200m for it second private debt fund in 2019.

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