We predominantly invest our own capital following our conviction in both the Barcelona @22 area and the added value hypothesis of converting industrial buildings into offices that people love to work in.

Occasionally we have investment opportunities for different styles of investors depending on their risk appetite and expected returns. Typically we establish a special purpose investing vehicle for each project that requires external investment. If you are interested to find out more please let us know below.

Note - We only accept accredited or highly sophisticated investors who are aware of the risks involved with investing.

Name *
Type of Equiry *


When - Early pre project
Purpose - Building purchase and refurbishment
Risk - Medium to High
Duration - 1-3 years
Target Returns - +20% p.a net of fees
Instrument - Convertible debt or equity
Liquidity - not liquid
Security - where possible building, not always possible

Growth investors are typically less risk averse and expect higher than market returns in the form of less predictable capital gains for taking extra risk.

Ideally we find tenants as early as possible to de-risk investments that are required in purchasing and refurbishing buildings. However, it’s not always the case and sometimes we will commit to buying a building when the location and building are both compelling.

In these situations we need to invest capital into the project to buy the building and perform renovations whilst at the same time looking for future tenants.

The time period from building purchase to tenants moving in ranges from 1 to a maximum of 3 years.

Exit returns come from income seeking investors wanting to buy the refurbished building with a secure tenant in place.

Investors are invited to join on a project by project basis, will have their investments typically secured against the asset (building) and funds are returned at the end of the project less a commission we take around 25% similar to private equity projects.


When - Mid-post project
Purpose - Building refurbishment/Tenanted building purchase
Risk - Low to Medium
Duration - 1+ years
Target Returns - 4-7% p.a net of fees
Instrument - Debt or building via equity
Liquidity - not liquid

Income investors are typically more risk averse and expect market returns via secured regular income.

Income investors are needed typically in 2 phases

  1. When we find a tenant that commits to a lease prior to the building being refurbished.

    In this case the risk is minimised via the promise of future lease income however project risk still exists together with the chance of the future tenant not fulfilling their commitment.

    Suitable investors here are medium risk and returns are typically 10-15% p.a for a period of 6 months to 2 years whilst the project is completed.

  2. After we complete the building and the tenant moves in.

    In this case the risk is low as often the tenant will have spent significant capital of their own so even if they default in the future there is a good chance the added value from their fit-out compensates for any lost income. The investment here is typically secured against the building which again reduces the investment risk.

    Suitable investors here are low risk and returns are typically 4%-7% p.a

Investors are invited to join on a project by project basis, will have their investments typically secured against the asset (building) and returns come in the form of regular income derived from the tenant and a potential for the capital gain in the underlying asset.