PORTFOLIO: IBERIA FUND I
Rare residential opportunity in Alicante
This is a purchase of the last major residential infill site in the Condomina District of Alicante on the Costa Blanca. The project involves the construction in two phases of a 22,200 sm condo with underground parking and ground floor retail units. The location has plenty of local amenities and is a short walk to the beach.
Alicante is Spain’s third most active residential sales market and has a shortage of new-build stock, particularly for first-home buyers seeking larger apartments with modern amenities. The investment is an opportunity for the fund to access a development opportunity in a dynamic market where prices are recovering from the post-crisis low of 2014.