Aticco and All Out Partners have launched a €180 million fund to buy, reposition, and operate flexible office buildings across Spain and Portugal, targeting a 7.5% annual income yield and 11.5% internal rate of return.

Aticco, founded in Barcelona by Gabriel Espín, Juan Carlos Morales, and Franz Pallarés, already runs nearly 60,000 sqm across 16 locations and is aiming for €30 million in revenue this year. Spain’s coworking market has been growing at 12% annually since 2022, giving this fund a real tailwind to work with.

Barcelona-based Aticco have raised a round from several family offices as well as GCO Activos Inmobiliarios, part of GCO (Grupo Catalana Occidente). The capital is expected to be deployed to continue their expansion in Spain and elsewhere in Southern Europe.

The minority stake sold still keeps founders Gabriel Espín (CEO), Franz Palleres (security director) and Juan Carlos Morales (financial director) as majority stakeholders.