A Spanish firm with an international presence
DRAGO is a Spanish real estate investment and management firm operating in Spain, Portugal, and the United States. Throughout its history, the company has combined its knowledge of its home market with an international perspective in the design and execution of its transactions.
Its international presence has developed gradually, following the firm’s investment and management criteria. Entry into new markets has been driven by the identification of opportunities to apply its working model.
Spain, the main market
Spain remains DRAGO’s primary market, accounting for approximately 80% of its assets under management. It is the market where the firm has accumulated the most experience, a broad network of contacts, and in-depth knowledge of local market characteristics. This track record forms the basis of its business and the expertise it applies in other markets.
DRAGO has participated in transformation, repositioning, and asset management projects in some of Spain’s major cities. These include Gran Vía 32, whose comprehensive renovation contributed to the revitalization of one of Madrid’s main commercial thoroughfares, and the Hotel Querencia in Seville, as part of the firm’s diversification into the hotel sector. Its track record also includes investment and office management projects such as Las Mercedes Business Park in Madrid. ABC Serrano is among the assets under management by the firm.
This approach continues in Castellana 198, DRAGO’s most recent project and one of the key developments in its new phase. By transforming a building originally designed as a hotel into a residential project, it embodies the approach that has guided the company’s activity for the past 25 years: identifying the potential of complex assets, resolving the constraints that limit their development, and transforming them to reintegrate them into the city with new uses and value, from a long-term perspective.
Portugal, the first expansion
DRAGO’s international activity began in Portugal, with operations in the residential sector. The geographical and cultural proximity to Spain, along with the dynamics of the Portuguese market, made this country the first area where its model was applied and adapted outside its home market.
Among the company’s projects in Lisbon is Casas de Santos, which involves the rehabilitation and enhancement of buildings integrated into the urban fabric. This track record is complemented by projects such as the Apot Building, also in Lisbon, which reflects DRAGO’s 25 years of activity and its experience in identifying opportunities and managing repositioning processes outside of Spain.
United States, long-term growth
The United States represents another stage in DRAGO’s international expansion. The company operates in the country through its presence in Miami and has focused part of its activity on the development and repositioning of short-term rental apartments in urban environments.
One of the first projects was 250 Collins Avenue, in Miami Beach, a luxury tourist apartment development that opened in 2019. Subsequently, DRAGO expanded its presence with 2150 Park Avenue, also in Miami Beach, through the comprehensive renovation of a 1947 building and its transformation into hotel-use apartments.
Both operations are part of the firm’s strategy in the United States: to identify assets with potential in established locations, to intervene through active management and adapt them to new uses with the aim of generating long-term value.
The activity in the United States has allowed DRAGO to expand its experience in a large market with dynamics different from those in Europe, while maintaining the principles that guide its investment and management.
Investment and management criteria
DRAGO applies the same management model across all the markets in which it operates, adapting it to the specific characteristics of each environment. Direct and active management, strategic analysis, co-investment, and a long-term perspective are the principles that structure this model.
Adapting this approach to different countries is part of the firm’s accumulated experience in its international operations. For investors, it ensures continuity in DRAGO’s criteria and working methods in each market.
