6 julio 2018
- Ibero CM closes the first financing operation for a promoter in Spain.
- The operation, for a volume of more than 35 million euros, includes financing for the purchase of land and for the cancellation of bank debt.
- The financed assets are three plots located in the municipality of Mijas, in a privileged environment with a golf course and excellent views, in which it is expected to build up to 145 homes, the commercialization of which will begin immediately.
- The project will be developed by a local promoter with extensive experience in the development of projects with similar characteristics.
- The financing structure is very flexible as it includes several tranches that finance the acquisition of land, the cancellation of bank debt, the payment of taxes and other expenses inherent to the transaction and construction of the project. The remuneration is also flexible by combining a fixed cost plus a variable remuneration depending on the final result of the project.
- Ibero CM has closed this operation in record time (practically only two months after the announcement of its launch), which demonstrates the capacity of the management team led by Walter de Luna and Luis Moreno to generate and transform opportunities in the market.
- Ibero CM is also currently working with several projects in its portfolio worth close to € 100 million that it expects to close in the coming weeks / months.
- Ibero Capital Management is a platform that was born in April 2018 with 400 million euros to finance promotions throughout the Spanish territory.
- It is the first firm of its kind to be launched in Spain, financing both capital and debt of real estate development companies in all phases of product development, including land.
- The irruption of Íbero in the market occurs at a key moment for the sector, where it is necessary to have new sources of financing alternative to banking to boost the growth of these companies.
- Ibero’s funds come from Oak Hill Advisors, one of the largest investment funds in the world, with more than 30,000 million dollars under management and that since 2005 has already invested more than 1,000 million euros in Spain, mainly in real estate projects.
