Where others see barriers to entry, we find room to build

We’ve successfully invested in different market cycles for over four decades and have structured our investment strategy around the understanding of these market cycles.

Westland is currently applying our unique model to markets outside the US that are showing opportunity. Right now, we're investing in suburban properties in Spain-- beginning in the Barcelona area. With decades of experience in suburban real estate, We're able to "surf the wave" into an area rich in opportunity, yet difficult for others to ride.

To understand the opportunity more, one must recognize the forces at play. Here's what we are seeing in Barcelona:

1) Vacancy in Barcelona is low caused by strong population growth and, more importantly, tourism growth.
2) Low vacancy and limited construction opportunities has led to a 5% rent increase in 2018 in the surounding area-- 9.2% in suburban markets, where we're focused.
3) Significant barriers to entry exist making development difficult without local expertise.
4) Banks have recently started lending after years of inactivity which allows us to access affordable contruction.
5) The cost of capital is lower than in suburban markets in the US.
6) Labor cost are low in Spain, which favors our cost of construction.

In short, there's a *large but short term* window of opportunity for development in Spain-- both for apartment construction and vacation rentals. Spain is at an earlier moment in the investment cycle, and we are actively capturing that growth. And most importantly, our relationships on the ground make these opportunities a reality.

At Westland-- we're here to help you ride this next real estate wave.