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Entering European wealth management
Madrid, 24th September 2026. Estating is entering a new phase of growth in Europe with its expansion into the Spanish market. The company is a Fintech platform specialising in real estate that integrates the entire value chain required to bring institutional-grade real estate assets to wealth management, from origination and selection through structuring, securitisation and distribution as investment products within a regulated European framework.
According to Savills Research, real estate is the world’s largest asset class, with a value of $393.3 trillion as of the end of 2024. Estating estimates that less than 10% of this market is accessible through institutional investment channels. This is precisely the gap the company addresses, providing the financial and technological infrastructure required to transform real estate assets into investment products that can be incorporated into wealth management portfolios and distributed through banking and financial advisory channels.
Founded in 2020 by Martin Halblaub and Daniel Vegue Domínguez, Estating addresses a structural issue in the real estate and wealth management markets: a significant proportion of institutional-grade real estate assets are privately traded and difficult to integrate into traditional wealth distribution channels. At the same time, private banks, wealth managers and family offices are looking for structures that allow them to incorporate these types of assets into their portfolios while meeting the operational and regulatory standards typically applied in financial markets.
Its model combines access to, origination and selection of assets with the financial and technological infrastructure required to structure them and convert them into investment products ready to be integrated into wealth management portfolios, with processes compatible with the custody and reporting systems used by professional investors.
“Spain brings together two relevant characteristics: a large-scale real estate market and one of Europe’s most developed wealth management ecosystems. This combination allows us to bring real estate assets to an established network of private banks, wealth managers and family offices. We are arriving with infrastructure that has already been operating for six years,” says Halblaub, co-founder, Chairman and Group CEO of Estating.
The objective is to bring together two ecosystems that have traditionally operated with different infrastructures: on the one hand, specialised partners involved in the origination and management of assets; and on the other, private banks, wealth managers, family offices and institutional investors. Estating operates across both ecosystems and provides the infrastructure required to connect the asset with the investment product, from selection, structuring and securitisation through to distribution via professional channels.
The company operates under a business-to-business (B2B) model and does not distribute directly to end investors. Its infrastructure enables its distribution partners to incorporate real estate products into their own wealth management channels with features typically associated with financial markets, such as ISIN identification, custody, reporting and transferability.
For wealth managers and family offices, this means three core benefits:
– Access. Institutional-grade real estate becomes accessible at investment sizes commonly used within a portfolio, including assets that were previously traded off-market. A client can hold several diversified positions across markets and asset types, rather than making a single large direct investment or having no access to such assets.
– Portfolio integration. The asset is structured as an investment security with an ISIN, held in the client’s usual custody account and valued and reported alongside the rest of the positions in their portfolio. There is no need to create a specific vehicle, administer direct ownership or establish a separate reporting system.
– Transferability. It is a security and, as such, can be transferred in accordance with the terms and conditions established for each issuance.
Estating, with its registered office and corporate governance in Luxembourg, achieved profitability in 2025 and is now entering a new phase of growth in Europe, with Spain as a strategic market. During its first six years of operations, it has primarily developed its business in the United States and Latin America, where it has built its infrastructure, with asset partners in the United States and distribution partners in Latin America.
“This expansion represents a natural step for infrastructure that we have already developed internationally. Latin America has been a fundamental market in building our distribution model, and Spain now allows us to strengthen the link between Europe, Latin America and the United States,” says Vegue Domínguez, co-founder and CEO of Estating for Latin America.
Spain is now a strategic market for the company due to the combination of a significant real estate market and an established ecosystem of private banks, wealth managers and family offices.
The expansion is supported by a management team with a presence across different European and Latin American markets.
Martin Halblaub, co-founder and Chairman of Estating, is relocating to Spain to also serve as Group CEO and lead the company’s new phase of European expansion from there. He has three decades of experience in financial services, markets and financial infrastructure. He was the first CEO of SIX Digital Exchange (SDX) and has held executive positions at institutions including HSH Nordbank, NordLB and the Hanover Stock Exchange.
Daniel Vegue Domínguez, co-founder and CEO of Estating for Latin America, leads the company’s development in the region from Montevideo.
Carlos Salinas, based in Andorra, serves as CEO of Estating Digital and Head of Wealth Management Iberia, strengthening the company’s positioning within the wealth management ecosystem across the Iberian Peninsula.
The international structure is completed by Ralf Jakobs, Head of Capital Markets Advisory and responsible for Central and Eastern Europe from Luxembourg; Dennis Thiemann, Group COO and CFO from Germany; and Pablo Montoliu, Group CTO from Spain.
For more information: Wealth managers and family offices interested in learning more about the model: https://www.estating.com
