We unlock the potential of real estate assets to create sustainable and risk-adjusted returns.
We combine strategic insight, agile capital deployment, and a proven institutional track record.
Leveraging decades of experience in real estate investment, we develop high quality and performance assets.

About us

Bala Investment is an independent real estate investment platform specialized in institutional-grade investment and asset management across diversified sectors.

We originate and structure investment opportunities, and through disciplined, hands-on management, we protect investor capital while enhancing the performance of our assets.

Operating across Spain, we combine deep local expertise with institutional capital structuring to deliver bespoke investment solutions tailored to each asset.

Our experience and strategic approach enables us to structure investment strategies to drive value-add strategies and maximize returns across residential, office, logistics, retail, hospitality, and emerging living models.

Our leadership team:

brings over 100 years of combined experience in real estate investment, finance and management across key market sectors.

We are a multidisciplinary team involved in every phase of the real estate cycle, from deal sourcing and investment structuring to active repositioning and exit strategy execution.

Our team combines multidisciplinary expertise with a strong track record across both core and emerging real estate sectors, enabling us to execute complex strategies and deliver institutional-grade performance across all asset classes.

Our leadership team is actively engaged throughout the full investment lifecycle bringing strategic insight and deep institutional expertise in real estate, capital markets, and legal structuring.

Enrique Dancausa - Equipo directivo Bala Investment

Executive with over 35 years of experience in the real estate and financial sectors. Throughout his career, he has held senior management positions and served as CEO of Haya Real Estate (a leading company with more than €50 Bn in assets under management), Anida (later Divarian), and Aktua, where he was a founding partner and carried out a management buyout (MBO) alongside U.S. fund Centerbridge Partners.

He has also acted as Senior Advisor to Cerberus Capital Management, actively participating in the acquisition of real estate portfolios, secured loans, and property companies.

Previously, Enrique developed a long career at Banesto (Santander Group), where he worked for 17 years and was appointed Deputy General Manager. In this role, he held strategic positions linked to real estate and the management of financial assets.

Enrique holds a Law degree from CEU San Pablo, an International MBA from Escuela de Negocios, and completed the Senior Management Program (PDD) at IESE.

Javier Zarrabeitia - Equipo directivo Bala Investment

With over 20 years of experience in European real estate, Javier leads Bala Investment’s organizational strategy, capital structuring, and asset repositioning initiatives.

Prior to founding Bala, he headed BentallGreenOak’s operations in Spain and served on the boards of its listed REITs, overseeing investments exceeding €1.4 billion across office, logistics, retail, and residential sectors, while contributing to the firm’s pan-European strategy.

He previously spent a decade at CBRE, progressing from Valuations to Capital Markets, advising on transactions totaling more than €3 billion.

Javier is a Member of the Royal Institution of Chartered Surveyors (MRICS), holds a degree in Business Administration from Universidad Autónoma de Madrid, an MSc in Real Estate from the University of Reading, and a PDG from IESE Business School.

His investment philosophy combines institutional financial discipline with ESG integration to drive sustainable value creation and enhance investment performance across the office, residential, logistics, and retail sectors.

Jaime Cabezas - Equipo directivo Bala Investment

Executive with more than 30 years of experience in the real estate sector, both national and international. He developed most of his career at BBVA, where he held executive positions at Gesinar and Anida, serving as board member and leading key areas such as development projects, land management, and corporate operations. As Global Head of Corporate Real Estate, he managed the group’s real estate portfolio in 32 countries, covering more than 6.5 million sqm of owned properties, and led the implementation of global efficiency and asset optimization plans.

Throughout his career at BBVA and Anida, he directed major real estate transactions and funds, including corporate operations exceeding €3.5 billion, managed annual investment budgets of over €300 million, and led the sale of strategic assets. He also represented the group in joint ventures and led land development and divestment projects.

In recent years, he has promoted and participated as a partner in real estate development, debt, and venture capital projects, as well as serving as a board member in companies in the sector dedicated to land management, residential development, rental residential, hotels, and senior living.

He holds a Law degree from the Complutense University of Madrid, an MBA from Instituto de Empresa, and a Master’s in Real Estate Companies from the Polytechnic University of Madrid.

Carlos Porocarrero - Equipo directivo Bala Investment

Lawyer specialized in advising international financial investors, sovereign funds, and large corporations on complex and value-added real estate transactions such as joint ventures, corporate acquisitions, large asset acquisitions, and portfolio deals. joint ventures, adquisiciones de compañías inmobiliarias, adquisición de grandes activos y operaciones de portfolio.

Partner in the Real Estate Department of Clifford Chance since 2002.

He holds a Law degree from Universidad Autónoma de Madrid (1987) and an MBA from Grand École ESCP. He is fluent in English and Spanish. In 2018, he was named Best Real Estate Lawyer in Europe by Property EU. Property EU.

What we do

Investment Management

We provide a comprehensive investment framework covering opportunity origination, capital structuring, execution, and institutional-grade asset management.

Asset Management

We provide active, rigorous and tailored asset management, aligning the strategy to each investor’s profile and focused on value creation.