This plan should be under way until the end of the year and, as reported by newspaper Expansión in its print edition, it will be available for companies that don’t have access to the capital market, such as small and midsized real estate developers. In this way these companies will be able to obtain full financing and to request it at any stage of the project’s development.
«We assume the risks equivalent to the equity. Our financing has interests between 9.5% and 12% and stakes between 10% and 50% depending on the project », explains the company’s CEO Walter De Luna to the same newspaper.
Sankar Group was one of the companies which, recently, received financing from Íbero CM. With this support, the company should be able to build 600 new dwellings in the province of Malaga.
Under the radar of this company – which is a partner of fund Oask Hill Advisors – are business opportunities spread out through several of the country’s provinces, reports the same newspaper. Valencia, Aragon, Pamplona, Andalusia, Catalonia and Madrid are a few examples.
If, until now, Íbero financed only housing developments destined for sale, in the future it might expand its market range. The possibility of financing housing projects destined to the rental market and hotel and commercial projects is being analysed by the company, according to the same newspaper.