Real Estate
Rolf Zarnekow
Head Investment Management Real Estate
Aquila Capital Hamburg, Germany
"Selected residential real estate projects in Spanish metropolitan areas are very attractive target investments."

Key Facts

  • 1.360m EUR
    transaction volume
  • 921,491sqm
    total retable area
  • 5,934
    residential units
state 31.12.2018

Investment opportunities in real estate

Investment strategies
Investment strategies

Aquila Capital is furthering its opportunistic investment strategies by identifying early profitable and attractive markets.

The main focus is to select residential real estate projects in Spanish metropolitan areas and logistics properties in European core / core-plus regions.

Real estate opportunities in Spain - residential development
Real estate opportunities in Spain - residential development
  • New construction and subsequent sale of housing complexes in Spanish metropolitan regions.
  • After the global economic crisis currently Spain's economy is growing faster than the European average.
  • Investors focus on metropolitan regions such as Madrid and Barcelona, because local project developers often lack equity for new projects.
  • The Spanish real estate market offers significant catch-up potential compared to the pre-crisis level and thus attractive entry opportunities for investors.
  • Modern and affordable residential developments are largely non-existent while demand is increasing and expected sales for newly constructed residential properties are above average. 
Residential living Spain
Residential living Spain
  • Leasing of attractive core properties in Spain's metropolitan regions.
  • Backlog in the Spanish housing market, because the portfolio of available residential units has significantly reduced since the real estate crisis.
  • The share of investments in the residential development segment is comparatively low and accounts for the smallest share compared to other real estate sectors (under 5%).
  • The growing housing rental market shows significant catch-up potential (from 9% in 2000 to 25% in 2015), while simultaneously the ownership proportion of 78.2% in Spain (2016) is relatively high.
  • The supply of modern, affordable living space is relatively low.
  • Steady improvement of Spain's macroeconomic situation resulting in rising demand for high-quality residential properties.
Green logistics
Green logistics

Attractive target markets

  • Selected residential real estate projects in Spanish metropolitan areas and logistics properties in European core/core-plus regions.

Green logistics

  • New developments will be combined with rooftop solar pvs making them climate neutral from day one.
  • Always aimed at achieving green buildings certification by DGNB.

Social housing

  • Affordable housing is a key focus of Aquila Capital’s real estate activities.
  • New buildings will be combined with district heating/cooling and/or a voluntarily offset carbon footprint.
Green logistics

Residential living Madrid: The large-scale project Villaverde in Madrid

Construction progress and different views of the residential construction project Villaverde in Madrid, Spain.

Current investment opportunities

Aquila Real Estate Opportunities II Strategy 


In addition to investment opportunities in fund structures we also desgin tailor-made investment solutions in the form of individual mandates or specific investment strategies and their implementation.

Please contact us

Current transactions in real estate

REO Partial Termination

To Press Release

REO Bond I

To Press Release

Aquila Capital enters Portuguese real estate market with 115.000 m² development of green logistics properties in Lisbon

20/08/2019 - Aquila Capital is entering the Portuguese real estate market with the development of 115,000 square meters of logistics properties in Azambuja, 35 kilometers north of Lisbon.

To Press Release

Aquila Capital expands its residential real estate portfolio in Madrid

08/12/2016 - In one of the most exclusive districts in Madrid 75 high-end residential units will be built.

To Press Release

Aquila Capital expands Spanish residential real estate portfolio with investment in Barcelona

21/12/2015 - About 40 high-quality residential units on the 11,000 sqm site.

To Press Release

Aquila Capital launches new strategy to invest in the Spanish residential property market

19/11/2015 - New strategy for institutional investors.

To Press Release

Aquila Capital acquires German logistics centre for institutional mandate

16/04/2015 - The property benefits from a long-term lease agreement with Robert Bosch GmbH.

To Press Release

Aquila Capital purchases second property in the heart of Madrid

09/02/2015 - The total investment volume for the hotel is EUR 28 million.

To Press Release

Our experts

Head Investment Management Real Estate
Aquila Capital Hamburg, Germany
Chief Executive Officer Investment Management Real Estate Spain
Aquila Capital Madrid, Spain
Investment Manager Real Estate
Aquila Capital Hamburg, Germany
Investment Manager Real Estate
Aquila Capital Hamburg, Germany
Investment Manager Real Estate
Aquila Capital Hamburg, Germany
Asset Manager Real Estate
Aquila Capital Hamburg, Germany
Klaus Siebel
Fund Manager Real Estate
Aquila Capital Hamburg, Germany
Analyst Real Estate
Aquila Capital Hamburg, Germany
Head Asset & Portfolio Management Real Estate
Aquila Capital Hamburg, Germany
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