Timbercreek Capital Inc. has launched a Southern Europe Serviced Apartment Fund, focusing on upscale apartments in cities like Lisbon, Madrid, and Malaga. The fund aims to renovate and rent these apartments to tourists, business travelers, and digital nomads, addressing demand in a fragmented market. Chief Executive Officer Blair Tamblyn notes that this approach counters the anti-Airbnb regulations emerging in Spain, where the government recently ordered the removal of numerous Airbnb listings to combat illegal rentals. The fund seeks to capitalize on the region's record tourism while anticipating raising at least $55 million from wealthy investors.
Canada's Timbercreek Capital launches a Southern Europe Serviced Apartment Fund to invest in upscale tourist accommodations, addressing Airbnb regulations and market demand.
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