Aticco and All Out Partners Launch €180 Million Fund for Flexible Office Investments in Spain and Portugal
Spanish coworking operator Aticco and real estate investment advisory firm All Out Partners have launched a €180 million real estate fund focused on flexible office assets in Spain and Portugal, according to Expansión.
The fund will invest in the acquisition, repositioning, and operation of office buildings in major cities, targeting properties that can be converted into flexible workspaces. The partners expect to raise capital from institutional investors, family offices, and private business groups.
The vehicle targets annual recurring income of 7.5% once assets are stabilized and an internal rate of return of 11.5%.
The launch comes as Spain’s flexible office market continues to expand. Coworking currently represents around 1.5 million square meters of office space nationwide, compared with a total office market of approximately 33 million square meters. The segment has recorded compound annual growth of 12% since 2022.
Founded in Barcelona in 2016 by Gabriel Espín, Juan Carlos Morales, and Franz Pallarés, Aticco has become one of Spain’s fastest-growing coworking operators. The company currently manages nearly 60,000 square meters across 16 locations and expects to generate €30 million in revenue this year. It also plans to add three new coworking spaces to its portfolio.
Aticco operates flexible workspaces aimed at startups, scaleups, and corporate clients, combining office space with hospitality-style services including events, wellness facilities, restaurants, and networking areas.
Its partner, All Out Partners, is a Madrid-based real estate investment and advisory firm specializing in tailored investment vehicles across sectors including coworking, hospitality, healthcare, living, and development projects.
According to the company, All Out Partners has raised €2.3 billion through real estate investment vehicles and has managed or advised on assets worth approximately €14 billion.
Pic source: Aticco Diagrame
