Residential investments with structure and upside

We develop and co-invest in multifamily, student housing, and condominiums across selected urban markets — where absorption, regulatory clarity, and exit potential align.

29.1%
Average gross IRR across residential equity investments
44
Properties developed or exited across markets
8.9M sqft
Consolidated real estate portfolio (equity and credit)
3 countries
Operations in the U.S., Spain, and Mexico

Built for Execution.
Designed for Resilience.

Arno Urbana invests in high-quality real estate across the U.S. and Spain, with an emphasis on long-term value, consistent cash flow, and thoughtful management.

We specialize in multifamily and mixed-use properties in markets we know intimately—South Florida and Madrid. Our investment approach is grounded in fundamentals, prioritizing properties that are financially sound over those that are simply fashionable.

44
Properties developed or exited across markets
8.9M sqft
Consolidated real estate portfolio (equity and credit)
3 countries
Operations in the U.S., Spain, and Mexico

Our Search

We seek out opportunities where demand is unmet and value can be created. By addressing structural challenges with fresh capital and active involvement, we aim to deliver lasting solutions and measurable impact.

Thesis Across Markets

Carlos Heredero 12 – Madrid
Multifamily Portfolio – Florida
Student Housing – KSU, Georgia
5-unit residential development.
• 25.2% projected IRR
• €1.32M total cost
• 12 months to delivery
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Acquisition and value-add execution on multifamily assets.
• 33.5% IRR
• 24-month hold
• Institutional exit
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Targeted student housing acquisition and resale.
• 84.7% IRR
• 15-month hold
• 1.53x MOIC
MADRID

Spain is facing a significant housing shortage. According to the Bank of Spain, the country needs approximately 550,000 new homes over the next two years to meet demand.

However, only about 90,000 new units are built annually—well short of the estimated annual demand of 300,000. This ongoing shortfall has led to a cumulative housing deficit of around 800,000 homes over the past decade

MIAMI

We invest in workforce and affordable housing in Miami because that’s where the strongest, most consistent demand lies. While luxury properties face rising vacancies and lease-up challenges, affordable and mid-tier units remain in short supply and high demand—maintaining low vacancy rates and steady performance.

As rents stabilize across the market, the need for well-located, efficient 2-bedroom units for working-class renters continues to grow. We focus on this underserved segment to deliver stable returns and meet a critical housing need.

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From site selection to delivery — we stay involved

We act as partners in execution, not just providers of capital. Our team works closely with developers and operators to structure the deal, define contingencies, and supervise progress. This hands-on approach allows us to protect investor interests, respond to on-the-ground realities, and maximize project outcomes.
We underwrite projects, not just spreadsheets.

If you're working on a residential development and looking for a capital partner who understands execution — timelines, entitlements, cost structure, exits — we’d like to hear from you.

Submit your project
Executed with structure, delivered with precision

Residential projects we've backed

Carlos Heredero 12

A five-unit residential development in the Carabanchel district of Madrid, designed to capture upside in a gentrifying area. With a total project cost of €1.32 million and a 12-month execution timeline, the investment targets a 25.2% IRR based on conservative absorption and pricing assumptions.

Multifamily Portfolio

We acquired and stabilized a portfolio of multifamily assets in Florida, implementing operational improvements that led to a gross exit of $14.7 million. The project achieved a 33.5% IRR over a 24-month hold period and was sold to an institutional buyer.

Student Housing

This student housing asset near Kennesaw State University was repositioned and leased up in under a year. The investment delivered an 84.7% realized IRR over a 15-month hold, with a final MOIC of 2.14x upon exit.

Frequently Asked Questions

Below are common questions from developers and partners exploring residential equity investment opportunities with Arno. If you need more detail, we’re happy to speak directly.

What types of residential projects does Arno invest in?

We focus on multifamily, student housing, and condominiums in markets with strong demand drivers, limited supply, and clear entitlement processes. Urban infill, repositioning, and ground-up developments are all considered.

At what stage do you typically enter a project?

We invest at early to mid-stage, once there’s site control and preliminary feasibility. We bring value by helping structure the capital stack and supporting through execution—not just at financial close.

How much equity does Arno typically contribute?

Equity checks typically range from US$1M to US$5M, depending on project size, structure, and alignment with our portfolio strategy. We prefer projects where we can maintain active oversight and real alignment.

Does Arno take a passive or active role in projects?

We are active capital partners. That means we’re involved in structuring, decision-making, monitoring budgets and timelines, and ensuring discipline in execution—without micromanaging the operator.

How long is a typical investment hold period?

Most residential equity projects target 12 to 36 months, depending on development timeline and market dynamics. Exit strategies are defined upfront and revisited based on actual performance.

What markets do you prioritize for residential investments?

We currently focus on select urban and peri-urban areas in Spain (Madrid, Barcelona), Mexico (CDMX, Monterrey, Riviera Maya), and the U.S. (Sunbelt states, Southeast). Market depth, liquidity and exit potential guide our focus.