Argis, an international capital manager founded in 2015, has finalized the purchase of the Torre Sevilla complex from CaixaBank in a transaction valued at 132 million euros. This complex includes an office skyscraper, a hotel, and a shopping center. The company's strategy encompasses the entire real estate investment cycle, from capital raising to asset management and refurbishment.
The firm, which currently manages assets worth 1.4 billion euros, aims to reach 2.4 billion in the next four years and between 10 billion and 15 billion euros globally within a decade. Its primary focus remains on Spain and Portugal, where they seek to incorporate new asset classes, such as the logistics and data center sectors.
Regarding the management of Torre Sevilla, the strategy focuses on continuing current management, making investments, and attracting new tenants, with no plans to alter the existing uses of the complex. The company highlights CaixaBank's excellent prior management, which has resulted in the asset being fully occupied.
“"We have a set of very long-term investors who consider these assets unique and irreplaceable, and they also generate annual income. Therefore, these are assets we are very comfortable holding without a divestment horizon, as is the case with Torre Sevilla."
In addition to the intention to list the company owning Torre Sevilla as a REIT, the manager is actively exploring opportunities in the logistics sector, particularly last-mile logistics in major cities across Spain and Portugal. They have also analyzed medium-sized data center projects in Madrid, though they acknowledge challenges related to grid connection capacity.
The company has a particular interest in Andalusia, where it already holds residential assets in Málaga and the Torre Sevilla complex. They see significant opportunities on the Andalusian coast, in Málaga and Sevilla, due to the region's economic and population growth. Future investments are planned for build-to-sell and flex-living projects in Málaga.
