Nikael Capital Ventures — Boutique Cross-Border Real Estate Advisory & Investment

About the Firm

The Boutique Advantage in
Cross-Border Real Estate

Nikael Capital Ventures is a boutique real estate advisory and investment firm built on a foundation of hands-on transactional experience across more than a dozen European and North African markets.

In an industry increasingly defined by scale, we believe the most complex cross-border transactions demand something different: senior-level attention from start to finish, deep local knowledge, and the flexibility to move fast. That is the essence of boutique M&A advisory — and it is what we deliver.

Our team has led and executed over 40 real estate transactions worth more than €2 billion — spanning acquisitions, disposals, joint ventures, portfolio financings, and development projects across the retail, residential, and purpose-built student accommodation sectors. Every engagement benefits from direct principal involvement, institutional-grade rigour, and the kind of cross-border expertise that only comes from decades of operating on the ground across diverse markets.

Currently active in the Iberian PBSA and Spanish affordable residential sectors, Nikael Capital Ventures continues to build on a track record of value creation across Europe's most dynamic real estate markets.

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Boutique M&A Approach

Senior principals on every deal from origination to closing. No junior hand-offs, no committee delays — just experienced, decisive execution.

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Financing & Structuring

Deep experience in portfolio financing, cross-border fund structures, and financial and tax analysis of complex transactions.

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Sector Versatility

Hands-on knowledge across PBSA, retail, residential PRS, and mixed-use sectors — from development through operations.

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Regulatory & Licensing

Skilled in navigating complex licensing, tourism permits, municipal authorizations, and compliance across European jurisdictions.

Expertise

Areas of Specialisation

Operational depth and strategic breadth across six core practice areas.

Living Sector▲

PBSA & Student Housing

End-to-end expertise in the Iberian PBSA sector — both purpose-built student accommodation and assets with hotel or mixed-use licensing. Covering acquisition, management, licensing, permitting, operations, and repositioning across Spain and Portugal.

AcquisitionManagementLicensingOperationsSpain & Portugal

Core Capability◇

Financing & Financial Structuring

Extensive experience in portfolio and project financing, cross-border fund structures (including Luxembourg vehicles), M&A transaction financing, financial and tax analysis, and legal coordination of financing workstreams across Europe.

Portfolio FinanceCross-BorderLuxembourgTax AnalysisM&A Finance

Active Sector□

Affordable & Residential Housing

Analysis and coordination of affordable build-to-rent and private rented sector residential projects in Spain and Poland, addressing institutional demand for quality housing through structured development frameworks.

Build to RentPRSAffordableSpainPoland

Heritage Sector◆

Retail Real Estate — CEE & EMEA

Extensive track record in shopping centre acquisition, development, and disposal across Central and Eastern Europe, Turkey, and Russia — from anchored retail parks to premium urban malls.

Shopping CentresRetail ParksAcquisitionDisposal

Specialisation§

Regulatory, Licensing & Compliance

Expert navigation of complex regulatory environments: tourism licensing, municipal permits, dual-use authorizations, corporate governance, digital certificates, and Powers of Attorney across multiple European jurisdictions.

Tourism LicensesPermitsGovernanceCompliance

Advisory△

Strategic Advisory & Due Diligence

Trusted counsel on cross-border M&A, corporate restructuring, due diligence coordination across legal, tax and commercial workstreams, and strategic portfolio management for institutional investors.

M&ADue DiligenceRestructuringStructuring

Track Record

Selected Transactions

A selection of landmark deals led or co-led by the firm's team, alongside dozens of smaller transactions across European and emerging markets.

Wars Sawa Junior Shopping Centre — Warsaw

~€300M

AcquisitionWarsaw, Poland2019

Acquisition of a flagship shopping centre in central Warsaw — a prime retail destination in the heart of one of CEE's most dynamic consumer markets.

Arkady Pankrac & Palac Pardubice — Czech Republic

~€380M

DisposalPrague & Pardubice2023-2024

Strategic disposal of two premium Czech shopping centres — Arkady Pankrac, a major urban mall in Prague, and Palac Pardubice, a dominant regional retail anchor.

Copernicus & Optima — Poland & Slovakia

~€245M

DisposalTorun & Kosice2022

Disposal of Copernicus Shopping Centre in Torun, Poland (~€127M) and Optima Shopping Centre in Kosice, Slovakia (~€118M) as part of a broader CEE portfolio optimization.

Militari Shopping Centre — Bucharest

€95M

DisposalBucharest, Romania2018

Disposal of Militari Shopping Centre in western Bucharest — a successful exit from a major Romanian retail asset as part of a strategic portfolio reshaping.

Russian Retail Portfolio Exit

₽11.27B

Portfolio DisposalRussia - 7 Assets2023

Complex disposal of a seven-asset Russian shopping centre portfolio, navigated through an exceptionally challenging geopolitical environment requiring creative structuring and risk management.

Turkish Real Estate Portfolio Exit

Portfolio DisposalTurkey - 8 Entities

Full exit from a Turkish real estate portfolio spanning eight companies across the country — including resolution of complex joint venture structures, entity wind-downs, and asset disposals in a challenging regulatory environment.

Residential PRS Pipeline — Poland & Czech Republic

€2.7B

Development23,000+ UnitsPoland & Czech Rep.

Coordinated the assessment of a major residential private rented sector pipeline spanning over 23,000 units across Poland and Czech Republic — one of the largest institutional PRS initiatives in the CEE region.

Joint Venture Constitution & Termination Advisory

JV AdvisoryTurkeyNetherlandsCyprus

Advisory on the constitution and termination of cross-border real estate joint ventures across multiple jurisdictions — including complex multi-party negotiations, shareholder agreements, and exit structuring in Turkey, the Netherlands, and Cyprus.

Retail Park Development — Andalucia

DevelopmentAndalucia, Spain

Managed and completed the development of a Kinepolis & Carrefour-anchored retail park in southern Spain, from site acquisition through construction, leasing, and delivery.

Shopping Centre Development — Sofia

DevelopmentSofia, Bulgaria

Managed local operations and led the development of a shopping centre in Sofia, while creating the corporate structure and evaluating expansion into Skopje, Macedonia.

Cross-Border Investments — Morocco

Cross-BorderBankingHospitalityIndustrial

Managed cross-border investments of European companies into Morocco, spanning a bank acquisition, hospitality projects in Marrakesh, and textile production facilities in Tangiers.

CEE & Emerging Market Transactions

AcquisitionDisposalDevelopmentJV Resolution

Dozens of additional transactions across Central and Eastern Europe, Turkey, and the CIS — including retail acquisitions, development projects, joint venture structuring and resolution, and market entry strategies in Bulgaria, Georgia, Ukraine, Hungary, Latvia, and beyond.

Real Estate Exit — Odessa, Ukraine

Resolution and disposal of a real estate development position in Odessa, navigated through a complex local regulatory and political environment.

DisposalUkraine

Real Estate Exit — Tbilisi, Georgia

Exit from a development project in Tbilisi, including joint venture resolution and local partner negotiations in an emerging CIS market.

DisposalGeorgia

Retail & Mixed-Use — Hungary & Latvia

Various acquisition, disposal, and development projects across retail and mixed-use assets in Hungary and Latvia.

MultipleHungary & Latvia

Beyond Real Estate

Nikael Ventures

At Nikael Capital Ventures, we believe that the same qualities that make a great dealmaker — strategic thinking, creativity under constraints, and a deep understanding of how people interact — have applications well beyond the boardroom. Nikael Ventures is our creative and intellectual playground: an initiative to explore ideas that bring people together, spark curiosity, and create something tangible and joyful. It reflects our conviction that the best firms are built by people with broad horizons and genuine passions, and that a playful engagement with the world outside of real estate makes us sharper, more creative, and more interesting partners within it.

Coming Soon

Board Games

Developing original board game concepts that bring people together around a table — the oldest and most human form of strategic play. Our games draw on themes of negotiation, risk, and resource management: the same dynamics that drive every great real estate transaction, distilled into experiences that educate, entertain, and connect.

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