Onate, the Irish firm specialized in alternative real estate financing, which landed in Spain last May, already has a portfolio of 45 projects financed in our country. With this projection the company estimates that next year it will reach a volume of 40 million eurosas you have been able to know elEconomista.es.
To reinforce its growth in Spain, Onate has just hired Javier Redondo as director of the firm in Spain, who will report to the company’s Investment Committee. Redondo has developed his entire professional career linked to real estate investment and in his last stage he has been part of the German investment company Engel & Völkers Capital AG, in the positions of Investment Manager and later director for all of Iberia. Previously, Javier worked at Colliers International Spain.
“Their incorporation is the result of intense months of work in which we have confirmed that alternative financing has a long way to go in Spain and that there are spaces for other real estate players to help energize a market with many opportunities for investors,” explains Juan Galobart, Lending Director of Onate Spain.
The business model of Onate is differentiated by its agility and flexibility, In fact, Galobart assures that they are capable of “closing operations in ten days, thanks to the fact that we have the money on balance, and this positions us as one of the fastest actors.”
Likewise, the firm also offers solutions for those investors seeking to optimize their capital structure or increase the liquidity of their assets. “We do them with a 48-hour evaluation of the feasibility of the project and 7 days to provide financing.“he highlights.
Onate has the financial backing of the British bank NatWest and the manager Triple Point and also has a bond program of 100 million euros listed on the MTF, the unregulated listing platform linked to the Vienna Stock Exchange.
The Irish firm finances residential projects linked to energy efficiency objectivesso it does not focus on new construction operations, but on the repositioning of assets in which improvements are achieved in the sustainability of the properties. In addition, Onate works on medium-sized operations with tickets ranging from 250,000 euros to two million euros, giving access to alternative financing to a greater number of projects.
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