The firm invests in opportunistic deals that can add value by sharing it´s understanding of local market dynamics and it´s executing know how.The firm has its own asset management and property management platform and has access to a broad network of real estate and industrial experts across Spain.

ZM offers business opportunities and deals to a select group of institutions, individuals and Family Offices providing asset management services.

ZM gets involved in projects from green field to the exit; full range involvement and project execution is the key to success.

The alignment of interests among ZM´s partners and investors with clear investment and co-investing policies.






Established in 1999, it was originally a multi-disciplinary advisory firm that grew by offering services in the field of Corporate Finance, Private Equity, Real Estate and Energy.

Nowadays ZM Capital is an investment firm that commits its own capital together with third party investors.

We have evolved and grown, adapting to our environment, to be the firm we are today.


Real Estate

  • Single homes: 5 villas under development.
  • Multifamily: 13 townhouses under development.
  • Multifamily: 180 apartments under development.
  • Land transactions.
  • Urban land for mixed uses development (hotel, offices and student residence).
  • These deals were partnered with Private Equity Real Estate
  • Funds or Private Firms.
  • We channel our investments through different companies, as:
  • Verde Property Group: real estate development in Costa del Sol with a Gross Development Value (GDV) of € 55 millions.
  • Timber Segura: Forestry and agriculture development.
  • Gracia26: Offices.
  • Fortress: Construction.



  • The Spanish economy is growing.
  • The Real estate market is recovering.
  • Attractive appraisals for residential plots in Costa del Sol, commercial in Seville and Timberland in Andalucía. With upside potential.
  • Favorable supply dynamics: broad re-sale pipeline.
  • Favorable demand dynamics: limited recent development and construction.
  • Strong recovery for prime segments.
  • We improve the financial conditions with promoters and final clients.


  • Wealth preservation.
  • Predominant focus on urban real estate and rural-forestry land.
  • Opportunistic transactions in energy and industrial assets.
  • Our return strategy is focused in capital gains, targeting attractive returns within two/three years.
  • Key centers: Costa del Sol, Seville and other places within Andalucía, with a complementary interest in Madrid.
  • Leverage our own local network to source attractive and off-market products.
  • Building proprietary pipeline.


  • Local Management team with strong real estate backgrounds, finance and investment funding.
  • Extensive involvement in Spanish Real Estate developments.


Spanish Real Estate market offers a wide range of opportunities and we have the local knowledge, capabilities, expertise and track record to be your local partner and asset manager.

We align our interests, as we like to co-invest in the deals we manage and look for stable partners to share the deal flow and investments.

Who invests with us? Private banking, PERE, insurance companies and Family Offices.

ZM has a rigorous and disciplined process to identify and select the best investments opportunities.We are used to high governance and reporting standards.

How to invest with us? Various structures are possible: deal by deal, through separate accounts, Joint Ventures or through a fund vehicle.