Miami (FL) 4 April 2025– Advenir Azora, the vertically integrated U.S. rental housing platform formed through the merger of U.S.-based Advenir and Spain-based investment manager Azora, announces the successful capitalization and groundbreaking of four Build-to-Rent (BTR) projects, as well as the acquisition of a core-plus multifamily community. These first investments of the partnership mark significant momentum toward the platform’s strategy to deploy over $3 billion across high-quality residential rental opportunities in the U.S. over the next five years.

Since the platform’s launch in late 2024, Advenir Azora has deployed $345 million across these initiatives, totaling approximately 1,300 units. The BTR developments and multifamily acquisition are located in high-growth, supply-constrained markets including Savannah, GA; Raleigh, NC; Carmel, IN; and Bristol, WI.

Two of the BTR projects—LEO @ Wendell in the Raleigh MSA and LEO @ Port Wentworth in the Savannah MSA—have been capitalized in partnership with PCCP, LLC, a real estate investment management firm with over $25 billion in assets under management. PCCP specializes in both debt and equity real estate investments and brings a strong institutional track record in supporting high-quality residential developments in dynamic U.S. markets.

“These first investments demonstrate the strength of our partnership with Advenir and our ability to execute quickly and at scale,” said Fernando Pérez-Hickman, Managing Partner and Head of Azora

America. “We are delivering on our commitment to create high-quality, attainable housing in key U.S. markets while offering our investors long-term value through resilient, income-generating assets.”

Stephen Vecchitto, Founder of Advenir and Managing partner of Advenir Azora, added: “From day one, our objective with Advenir Azora has been to meet the growing demand for professionally managed rental homes. These projects position us to capture significant upside in markets where housing demand continues to exceed supply.”

The developments feature thoughtfully designed, high-quality rental homes with modern interior finishes, shared amenities, and green spaces, tailored to meet today’s renter lifestyle preferences. Unit layouts range from one to three bedrooms across a variety of formats, including duplexes, cottages, and townhomes.

Azora joined with Advenir, a leading US real estate investment and management company, to create Advenir Azora in October 2024 to develop and manage affordable rental housing in key US markets. This alliance started with more than $3 billion and 14,000 homes under management and an investment target of more than $3 billion.

Advenir Azora remains committed to its goal of developing at least 10,000 purpose-built single-family rental homes and acquiring an additional 5,000 multifamily units across the United States.