Reverest Fund Management commits €40M to a 54-apartment development in La Cala de Mijas, Malaga — its first Spanish fund. Construction starts Q1; 20% already reserved.
Lithuanian investment manager Reverest Fund Management has landed on the Costa del Sol with a €40 million commitment for a 54-apartment development in La Cala de Mijas, Malaga — the company’s first fund in Spain as it begins to expand across the national market.
The project, developed in partnership with local firms, already holds a construction permit and is scheduled to break ground in the first quarter of the year. Reverest reports that roughly 20% of the units — 11 out of 54 apartments — have been reserved ahead of works commencing, signaling early buyer interest.
“This first project fits perfectly with our fund due to its exceptional location, panoramic views and excellent infrastructure,” Reverest said, noting strong demand for high-quality holiday and residential product on the Costa del Sol. “Seeing the high demand for this type of product, we have no doubts about the success of this investment and we are already planning future projects.”
While the La Cala de Mijas development is focused on holiday accommodation, Reverest says its Spanish strategy is broader. The company intends to pursue residential projects in Spain’s larger cities and is exploring opportunities aligned with its retail and food fund strategy — a sign that future investments could span urban housing and commercial assets as well as coastal holiday units.
Reverest Fund Management is a Lithuanian manager of collective investment schemes regulated by the Central Bank of Lithuania. The firm is active in the Baltics and now Spain, concentrating on residential and retail investments in locations with strong growth potential and infrastructure.
Reverest’s move reflects the wider investor interest in Spain: the company cited the country’s sustained economic expansion, infrastructure investment, favorable fiscal policy and population growth as drivers of housing demand and the rationale for entering the Spanish market.
With construction set to start and a portion of units already reserved, the Malaga project is positioned to be the first of several developments as Reverest scales its presence across both holiday and urban residential markets in Spain.
