Spanish investment manager Argis has raised €257 million for its new investment vehicle, Argis Living Fund II, providing the firm with approximately €700 million in total investment capacity, including leverage, to acquire residential real estate assets.
The fund exceeded its fundraising target and was oversubscribed by around 10%, attracting commitments from institutional investors, pension funds, family offices, high-net-worth individuals and private investors across 23 countries.
The vehicle combines €257 million of equity commitments with approximately €450 million of financing, resulting in a loan-to-value ratio of around 65%. The fund has a maximum investment period of three years.
Argis has already deployed or committed approximately 60% of the fund's investment capacity through eleven transactions covering more than 1,400 residential units in Madrid and its metropolitan area, Barcelona and Terrassa.
The fund's investment strategy focuses on three complementary segments: build-to-sell (BTS) residential developments, flex living projects, and the conversion of existing assets into residential properties.
According to Alejandro Schuvaks, Founder of Argis, the residential market increasingly requires specialist expertise and disciplined execution.
"Argis Living Fund II enables us to continue deploying capital in markets where we have a deep understanding of demand, costs, development timelines, and real market conditions. That visibility allows us to make better investment decisions and protect value throughout the entire investment cycle," said Carlos Zucchi, CEO and Co-Founder of Argis.
With more than ten years of experience, Argis currently manages approximately €1.4 billion in assets under management, representing more than 330,000 square metres of real estate.
The firm's medium-term objective is to increase its assets under management to €2.4 billion within the next two years, as Founder Alejandro Schuvaks explained in an interview with Expansión at the end of 2025.
Argis was among the first investment managers to back the flex living segment in Spain and was also a pioneer in converting office buildings into residential properties, a strategy that has gained significant momentum in recent years.
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