Real Capital Solutions – “The developer that lays awake at night…”
We caught up with Taylor Cox a partner in Real Capital Solutions to find out how the venture capitalist company first came about targeting Spain for investment in the property market and how things have developed in that time.
Real Capital Solutions originate from the USA and have funded numerous real estate investments since 1984. Not satisfied with managed assets exceeding 1.4 billion dollars, RCS looked to source new opportunities overseas and highlighted Europe as the market for them and when all elements were factored in the company came to settle on Spain to invest their money.
Taylor spoke openly when he said, “Unlike other developers on the Costa del Sol, the company largely self-funds its projects which gives us a certain edge. We take on a higher degree of personal responsibility as fundamentally we are investing our own money and by that very virtue we need to get things right and they have to work well, first time around.”
And as he says, “a buyer should want their developer to lay awake at night, knowing they are concerned about the delivery time and the quality of what it is they are doing”.
Since Real Capital Solutions Spain was created the company has gone from developing construction projects reclaimed from the bank on the Costa del Sol, Spain in 2012 to designing and building their own new build projects along the coast in 2017 - with the first of those now under construction in Cabopino called ‘La Montesa’……
“Spain was the darling of the pigs….” - If you take the acronym of Portugal, Italy, Greece, Spain you get P.I.G.S.
For Real Capital Solutions, “Spain was the darling of the PIGS….” When we caught up with Taylor Cox, Partner of Real Capital Solutions Spain, he explained why…
“Spain offered so much potential with the amount of overbuild and the banks were going to need to offload stock and when you consider the infrastructure of the roads & highways, airports and train systems already in place, it made Spain the most attractive option back in 2012.
As Northern Europe economies started to recover, Marbella fitted the size of projects RCS were looking for which made for an ideal match for the types of deals that we were looking to invest in.”
It wasn’t long before RCS went on to make their first development acquisition with ‘Cosmo Beach’ in Estepona and the company has kicked on investing their own money in other ventures, in ‘Mediterra’ in Benalmadena Costa, ‘Valley Heights’ in Benahavis & ‘El Retreat’ in Elviria turning idle real estate buildings into refurbished projects that owners could move straight into.
He went on to say, “Marbella seemed most likely to recover from the economic property downturn in Spain due to the attraction of the second home market and it being a coastal community as well as a warm holiday destination.”
From these investments SPP was born…
RCS Spain began their marketing arm Smart Property Professional to handle the promotional efforts and enabled real estate agents the opportunity to have a close working relationship with the company to tie in their own interests to enable property sales that much easier for agents.
SPP manages all of the promotions RCS have brought to the market having overseen the ‘Cosmo Beach’ promotion on the new golden mile in Estepona, the latest is the new build project of 18 villas called ‘Arboleda’ in Atalaya, Estepona with construction due to start in April 2017.
In addition, there is the pre-launch of ‘Aria’, a 39 unit luxury apartment complex on the beachfront of Mijas Costa just a short distance from Fuengirola town centre.
We will release these in more detail next….
One thing we did learn with my time spent with Taylor was there was much more to come from RCS in 2017. He advised we should stay in regular contact for the latest on the forthcoming projects of ‘Traena’ in the area of Benahavis expected for release prior to the summer this year with ‘Montclair’ to follow thereafter.
It is certainly a busy period for these guys and I have to say we think it is great news as we actively promote all the SPP products.