01
Development
24 to 36 months
End-to-end residential development, from land or existing building to unit delivery.
PRIVATE EQUITY REAL ESTATE
We don't just deploy capital.We build partnerships.
Private residential investment and development firm serving HNWIs and family offices. We co-invest in every transaction and lead the full lifecycle.
Tickets from €100K per investor
AIRA — Do galego: sitio chan próximo á casa, feito de terra firme ou de pedra, onde se mallan os cereais e se botan a secar os legumes.
WHAT WE LOOK FOR
Three strategies, one discipline
We operate in residential through three investment lines with quantitative criteria on every deal.
02
Flipping
8 to 12 months
Acquisition, repositioning and sale of value-add residential assets.
03
Build to Rent
3+ years
Development and operation of long-term and mid-term residential rental assets.
Entry criteria
| Total investment | €500K – €3M per project |
| Asset type | Residential |
| Target IRR | +15% levered, net to investor |
| Max leverage | 60% LTV on senior debt |
| Min. gross margin | 15% unlevered |
DATA
Every decision, validated with real data
At AIRA we make decisions based on notarized transaction prices, not on portal estimates. Each operation is modeled against the real cost at which comparable assets have changed hands in the last 12 months, in the specific neighborhood, in the specific typology. What cannot be defended with data does not enter the portfolio.
+5M
Notarized closings
The real price, not the asking price: benchmarked against the value deeded before a notary. Quarterly updates from the Registry College.
+4M
Live-market comparables
Continuous market tracking to triangulate prices and spot opportunities ahead of the market.
9,200
Zones profiled
Income, demand, demographics, and absorption by postal code, over 500+ INE statistical series.
+28M
Properties in Cadastre
National coverage: surface area, year, use, and geolocation of each parcel.
TRACK RECORD
Our numbers
8
Projects
17
Residential units
€4.5M+
Capital deployed
13 – 18%
Annual net IRR range to investor
1.3×
Average MOIC
TRACK RECORD
Our numbers
8
Projects
17
Residential units
€4.5M+
Capital deployed
13 – 18%
Annual net IRR range to investor
1.3×
Average MOIC
Investor-first waterfall · 7% preferred return
The figures above are net to investor. We apply a European waterfall with a 7% annual preferred return, the investor is paid before AIRA on every distribution. Only once that hurdle is cleared AIRA participates in the upside.
We co-invest our own capital in every transaction.
Our heritage
AIRA takes its name from Galician: the rural space where grain was threshed and essential tasks were carried out to feed the family. Those men and women worked with a profound conviction — to prosper and offer a better life to the next generation. Many emigrated to America and other destinations to build opportunity and wealth with a long-term view.
That is the mindset with which we approach every investment: turning effort into tangible value and building wealth that grows over time.