Mar 2024

Invel acquires third asset for flagship fund series

Invel Real Estate has secured its third transaction for its opportunistic real estate strategy. Invel, the private equity real estate firm focussed on Southern Europe has acquired a multi-family residential conversion asset in Rome, Italy. The asset currently classified as office is prominently located within a top sought-after location already established as a vibrant residential and business area. Invel will carry out the redevelopment into a 150-units build-to-sell (“BTS”) residential scheme with best-in-class green credentials, leveraging a scarcity of modern stock in Rome.

Our investment approach follows an opportunistic strategy investing across the capital structure by taking advantage of various market dynamics and/or points in the cycle. Our strategy has a geographic investment remit of Southern Europe with a particular focus on Italy and Greece, where Invel is a dominant market player. In particular, we have a “primary” sector focus on residential and hospitality, leveraging both Invel’s in-house expertise and the strong underlying fundamentals prevalent in the target markets.  We also recently closed on the second transaction for this strategy in Athens, Greece, a land plot in an affluent residential district to develop a green BTS residential scheme of 33-units.

Invel, with an AUM of €3.7 billion specialises in mid-market real estate private equity transactions in Southern Europe. Its success is underpinned by a 10-year plus track record combined with having local teams on the ground. In 2022, Invel entered the residential sector with the acquisition of an 80% stake in Livewise, a fully integrated and leading institutional grade residential developer in Greece. Invel is a market leader in Italy where it executes both equity and high yield lending transactions and the Italian AUM currently stands at approximately €800 million.

Invel’s Founder and Managing Partner, Chris Papachristophorou, said: “We are proud to deploy capital in an off-market transaction that best exemplifies the strength of our local Italian team and our investment strategy. We follow an exceptionally disciplined allocation model as reflected in our track record.”