Pictet Alternative Advisors Keeps Capital Flowing for BTR Developments in Madrid and Swedish Urban Areas

Posted on 09/18/2021

Pictet Alternative Advisors is the alternative investment division of Pictet Group. Pictet Alternative Advisors formed a build-to-rent (BTR) joint venture with Lasabia for well-estalished zones in Madrid. Lasabia is a Spanish property investment company created by the González-Weil brothers. The properties will be near the M-30 ring road or adjacent zones. Pictet Alternative Advisors sees opportunity expanding its exposure to select European residential markets. Advisers participating in the transaction were Savills Aguirre Newman, Uría Menéndez, Grant Thornton and Pérez-Llorca.

On the northern front, Pictet Alternative Advisors inked a deal with I am Home, a Swedish residential and urban developer. Pictet Alternative Advisors is providing capital for I am Home to develop residential units to be built in growing cities across Sweden. The business plan is focused on developing affordable housing. The Swedish government subsidies system tries to keep rents low. The underlying fundamentals of the Swedish residential market, which include a regulated rental system, a growing urban population, and a structural undersupply of affordable housing – remain attractive for the investor. Sweden is in 10th place in the OECD in terms of the share of immigrants in its population, with the foreign-born accounting for 14% of the total population, according to recent figures. Sweden has taken in the most refugees per capita, and is third in the world on this measure behind Canada and Australia, according to a 2019 Pew Research Center report. In 2015, Sweden had a record-high of 162,877 applications for asylum, primarily from Syria, Iraq, and Afghanistan.

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