01
Alternative senior
When bank financing does not fit the asset, timeline or complexity.
Ticket
From €3M
Reference
Deal specific
Real estate debt advisory · Spain and Europe
Selective mandates
Alternative real estate finance in Spain. Structured around your project.
We advise international and local sponsors on real estate finance from €3M in Spain and across Europe. And negotiate through to closing.
Europe · local execution
MadridLisboaLondonParisMilanBerlínAmsterdamMadridLisboaLondonParisMilanBerlínAmsterdam
The right capital for each point of friction
We do not sell a product. We design the structure.
The same deal may need speed, more leverage or protection of sponsor equity. The instrument comes after the problem.
02
Preferred capital
When senior debt falls short and the sponsor wants to preserve ordinary equity.
Ticket
From €3M
Reference
Full cost modelled
03
Bridge & special situations
When the project needs a temporary solution with a clearly evidenced exit.
Ticket
From €3M
Reference
Deal specific term
How much equity does your deal really need?
Model senior debt, buyer deposits, preferred capital —only when it adds value— and cash equity. Indicative result in under a minute.
capital stack→
Indicative structures. LTC, pricing and tenor depend on the asset, jurisdiction, sponsor and project stage.
Illustrative €10M development · not a real transaction
How a €2M funding gap could be analysed before construction starts.
Scroll through a simplified example. The figures show what changes from the bank's first offer until the funding is available.
01€2M is missing
The bank provides €5.5M. It is not enough to cover a development with a €10M cost.
The developer contributes €1M of cash equity and buyer deposits cover €1.5M. The remaining €2M gap must be filled before finance costs.
02We design the stack
75% senior debt plus buyer deposits covers the cost with only 10% cash equity.
The base structure is €7.5M senior, €1.5M buyer deposits and €1M from the developer. Preferred capital is not automatic: we add it only when it genuinely improves returns or execution.
03We test the market
We present the deal to two or three carefully selected funds and read how the market responds.
We test appetite, pricing, security, drawdowns and flexibility. We then refine the process and bring in additional competitors only when it strengthens the developer's position.
04Target structure
The example ends with €7.5M of senior debt available under the agreed conditions.
Reaching that point would require valuation, due diligence, conditions precedent and documents. A term sheet does not equal closed financing.
JB · ILLUSTRATIVE MODELGAP IDENTIFIED
€10M
cost before finance
—
funds in process
Senior55%
Buyer deposits15%
Preferred0%
Sponsor equity10%
Unfunded20%
Indicative structure
It evolves with the mandate.
Recognise this gap?
Tell us where the deal is blocked. We will review whether there is a defensible financing route.
Structuring examples
See how each financing problem can be analysed.
Illustrative scenarios based on common financing needs. They are not completed Jubarta transactions or offers of finance.
01 · ILLUSTRATIVE EXAMPLE · RESIDENTIAL
Refinancing and construction in one structure
01 · Situation
Replace the acquisition bridge and secure funding to build the development.
02 · Structure to assess
Consider a senior facility with one refinancing tranche and later drawdowns as works progress.
03 · Objective
Avoid using the construction budget to repay the existing acquisition facility.
02 · ILLUSTRATIVE EXAMPLE · COMMERCIAL
Financing a phased development
01 · Situation
Fund a commercial development with different uses and phased construction costs.
02 · Structure to assess
Consider debt drawdowns linked to progress and remaining cost for each phase.
03 · Objective
Align financing with construction without drawing debt before it is needed.
03 · ILLUSTRATIVE EXAMPLE · RESIDENTIAL
When senior debt may be enough
01 · Situation
Fund a prime residential development without adding unnecessary layers of capital.
02 · Structure to assess
Compare senior debt plus sponsor equity with an alternative that adds preferred capital.
03 · Objective
Choose the structure that covers uses and contingency with less cost and complexity.
From mandate to drawdown
A term sheet is a milestone. Closing is the job.
Deal specific
has its own closing timetable
Timing depends on documents, third parties and approvals
01Initial assessment
We test whether the deal can fit
We review the asset, sponsor, timeline and financing need. If we cannot identify a defensible route, we say so before opening a process.
02Preparation and market test
We structure the finance and compare proposals
We prepare the model and documents, select compatible lenders and negotiate proposals on the same basis.
03Due diligence and closing
We take the selected proposal through signing
We coordinate valuation, legal, technical and financial review, documents and conditions precedent until funds can be drawn.
JB · EXECUTIONLive timeline
1
Initial assessment
Fit assessment
2
Preparation and market test
Comparable proposals
3
Due diligence and closing
Financing closed
Current phase01 · We test whether the deal can fit
Team
You speak to the people leading the mandate.
No sales layers and no hand-offs. The partners assess, structure and negotiate every transaction.
Founder · Managing Partner
Jorge Gómez, CMgr
More than a decade structuring alternative real estate debt across Spain and the UK. He leads the mandate, capital stack and negotiation through closing.
jgomezf@jubarta.com
Co-Founder · Partner
Juan Bartolomé Pasaro
More than 40 years across banking, servicing and real estate, bringing origination, governance and an institutional view of risk.
mch@jubarta.comInitial assessment
In 30 minutes, you will know whether the deal is worth pursuing.
We review fit, likely structure and next steps. If we do not see a path, we will tell you directly.
Choose how to start
Book 30 min with JorgeConfidential from first contact
NDA before sensitive documentation