Gannet Real Estate Debt
Gannet Real Estate Debt is our division specializing in real estate debt investments in Spain. It represents the natural evolution of the real estate debt investment program developed by Grupo Numa's family office and is now open to new investors to expand its reach and potential.
Investment Strategy
Through our investment vehicles, we seek exposure to the Spanish real estate debt market through transactions with the following characteristics:
Debt positions.
Mortgage-backed debt investments with contractual payment rights and robust collateral packages, offering differentiated returns within the real estate sector.
Special situations.
The ability to unlock highly leveraged or complex situations in a manner that creates value for the parties involved.
Value Proposition
A highly attractive risk-return profile with strong downside protection.
Spain's real estate debt market is substantial, yet the number of investors pursuing small and middle-market transactions remains limited, creating an attractive market niche. Low loan-to-value ratios and high conviction in collateral values provide meaningful downside protection.
Motivated sellers: strong incentives to dispose of NPL portfolios.
Sellers face significant economic and regulatory incentives to reduce non-performing loan ratios and continue strengthening their balance sheets. In addition, European regulation is increasing capital requirements for financial institutions.
A significant increase in investment opportunities.
Spain has become Europe's second-largest market by transaction volume for this asset class. The country has more than EUR 200 billion of real estate debt outstanding, with banks and institutional investors acting as motivated sellers.
