PRIVATE REAL ESTATE INVESTMENT FIRM
4Â
COUNTRIES
20+
YEAR HORIZON
Building Legacy
Across Borders.
AirStone Group is a private real estate investment firm owned by the Coen family, investing across the United States and Central America with a long-term perspective.
3
BUSINESSES
01 - WHO WE ARE
A Real Estate Investment Firm Built For Enduring Value.
AirStone Group is a private investment firm owned by the Coen family.
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We invest in real estate across the United States and Central America, and we take a long-term view.
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We know these markets well. The Coen family has worked in the remittance business for years through AirPak, the largest remittance platform in the region. That gives us a real understanding of how people move and buy homes on both sides of the border. We’re also investors in one of Central America’s largest construction builders, which means we have a close view of how and where housing is being built.
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That combination —deep regional expertise paired with investment discipline in residential development, migration patterns and remittance flows— is what sets us apart.
01
Residential
We invest with partners to buy homes in the United States.
02
Homes
We help Hispanics in the U.S. buy homes back in Guatemala.
03
Development
We help build large new housing projects in Guatemala and Nicaragua.
INVESTMENT MANAGEMENT
AirStone Residential
U.S. multifamily co-investment alongside experienced sponsors, building a focused portfolio of quality home communities.
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— Home communities of 200+ units
— Sun Belt & Southwest
— Florida, Texas, the Carolinas, Georgia
— Long-term partnerships with 6–10 operators
02 - THE PLATFORM
One platform.
Three businesses.
RESIDENTIAL MARKETPLACE
AirStone Homes
A marketplace for U.S.-based buyers investing in quality homes back in Guatemala. We focus on the family that’s been sending money home and is ready to put it into property.
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— New and upcoming residential projects across Guatemala
— We know the builder side too — we’re investors in one of Central America’s largest construction companies
— 15%+ of remittances flow toward housing
GROUND-UP DEVELOPMENT
AirStone Development
We put capital and hands-on involvement into large, ground-up residential projects in Guatemala and Nicaragua, backed by a real track record of getting things built.
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— More than 1,000 homes built to date
— Five completed projects with solid returns, and more underway
— Ownership in one of Central America’s largest builders
1,000+
UNITS DEVELOPED
5+
COMPLETED & ONGOING
4
COUNTRIES, ONE PLATFORM
03 - HERITAGE
Backed byÂ
Grupo Coen
AirStone Group is backed by Grupo Coen — a family business the Coen family has built across Central America over many decades.
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Today Grupo Coen works across several industries — financial services and remittances, real estate, and manufacturing. It includes AirPak, the largest remittance platform in Central America, and Alas Doradas, one of the largest paper products manufacturers in the region.
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That history matters. It gives AirStone Group real advantages: strong relationships, deep local knowledge, and the grounded approach of a family that thinks in decades, not quarters.
・Remittances & Financial Services
・Real Estate & Development
・Manufacturing
・Construction
・Agriculture
・Government IDsÂ
04 - OUR APPROACH
How we work.
01
Stay focused
02
Partner well
We keep our strategy concentrated, which means better deals and sharper decisions instead of capital spread too thin.
We work with experienced sponsors who have a clear track record, and we stay involved — building lasting relationships, not one-off deals.
03
Know the region
04
Think long term
Our experience in migration, remittances, and local housing markets gives us a perspective most investors don’t have.
We invest in real assets and aim to grow value steadily over years, not quarters.
05 - LEADERSHIP
The team.
CHAIRMAN
INVESTMENT COMMITEE
Guiding capital allocation and investment strategy.
Piero P. Coen
Paolo Coen
COMMITTEE MEMBER
Renzo Coen
COMMITTEE MEMBER
Eduardo Arguello
MANAGING PARTNER
EXECUTIVE & GROWTH TEAM
Leading business development, digital strategy, and commercial execution.
CHAIRMAN & FOUNDER
Piero P. Coen
President & CEO of Grupo Coen, one of Central America’s largest diversified family-owned conglomerates, with operations across financial services, agribusiness, real estate, paperand packaging. He shapes AirStone Group’s long-term vision, strategy, and capital direction.
Investment & Analyst Team
UNDERWRITING ・DILIGENCE ・OPERATIONS
MANAGING PARTNER
Eduardo Arguello
Former U.S. private equity investor with commercial real estate experience, and CEO of AirPak — the largest remittance platform in Central America. MBA from Harvard Business School, graduated with honors from the University of Pennsylvania.
A dedicated team that handles underwriting, financial analysis, and the day-to-day work that keeps the firm running smoothly.
VP, BUSINESS DEVELOPMENT
Nicolás Arimany
Leads commercial strategy, partnerships, and deal pipeline development. He has a broad background in fundraising and business development across industries, and focuses on connecting investor needs with the right opportunities. He graduated from Lynn University.
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VP, DIGITAL GROWTH
Enrique Cabrera
Leads AirPak & Western Union's commercial and operational strategy in El Salvador, following two successful years as General Manager in Honduras. Experienced in scaling operations, negotiating strategic financial partnerships, optimizing distribution networks, and leading cross-functional teams to deliver sustainable business growth across the financial services industry.
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BUILT WITH PRESENCE
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