MARBELLA, Spain, Nov. 4, 2021 /PRNewswire/ -- Pacaso, the leading real estate platform that helps people buy and co-own a luxury second home, today announced that it has expanded its service to Marbella, Spain. After announcing a $125 million Series C funding round led by SoftBank and plans to expand to Spain in September, the company began swiftly hiring a best-in-class global team and setting up on-the-ground operations in Europe and the U.K. In addition to launching in the Costa del Sol region, Pacaso plans to continue to expand rapidly to other markets in Spain and across Europe.
"The response we've had from the real estate and business community in Marbella has been amazing," said President of Pacaso Global Razor Suleman. "We've been hard at work building our business and local team here in the South of Spain, and the support we've received from our partners and crew members reiterates that this market is truly a great fit for our co-ownership model. Every Pacaso property is sold fully furnished with professional interior design, and with Pacaso as the property manager, owners can simply show up and enjoy their new holiday home."
"I'm thrilled to witness the launch of our European Expansion," said Pacaso CEO Austin Allison. "The traction that we've made in the U.S. pioneering a new way to own second homes has created a strong foundation for our global expansion. We're so excited to be able to offer Pacaso services to people here in Spain. To those who've always dreamed of owning a home in the Costa del Sol, now is your chance, and we're just getting started."
Torgeir Wemmestad-Haaland, founder and CEO of Solvilla, a leading real estate platform in Marbella, has partnered with Pacaso.
"From the moment I met the Pacaso team, I had a feeling there was going to be incredible synergy," said Wemmestad-Haaland. "I've been in this market for nearly a decade and have a deep understanding of its complexities. After learning about Pacaso, the strengths of its team, its rapid success in the U.S., and its innovative co-ownership model, I knew it would be a particularly great fit for Marbella, one of the top second home destinations in Europe."
Pacaso partners with local real estate agents and brokerages in markets where it operates. Real estate agents in Spain representing buyers who purchase a share of a Pacaso home receive a 4% referral commission. Agents who are interested in working with Pacaso can learn more on the company's website.
Pacaso now has a listing in the area: this modern villa situated in the hills above Puerto Banus, one of the most exclusive neighborhoods in Marbella, features an infinity pool and stunning views of Mount Concha and the Golf Valley.
To celebrate its official arrival in Marbella, Pacaso is hosting a launch event on Thursday, November 4, 2021. Local members of the business and real estate community will be in attendance as well as Marbella Mayor Angeles Muñoz.
To learn more about homes available throughout Marbella, please visit the Pacaso website.
Pacaso® (pronounced like "Picasso") modernizes the decades-old practice of co-ownership by creating a marketplace that makes buying, owning, and selling a luxury second home easy. From curating the best listings in top second home markets to offering integrated financing and sales from as little as ⅛ to as much as ½ ownership; upscale interior design; and professional property management, Pacaso provides owners with all the benefits of owning a second home with less hassle. After purchase, Pacaso manages the home on an ongoing basis and supports a frictionless resale process in partnership with a licensed real estate professional.
Pacaso was co-founded by former Zillow executives Austin Allison and Spencer Rascoff.