FIRST PERSON
Interview with Taylor Cox, Partner, Real Capital Solutions Spain

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You are an American equity fund… Why Spain?
Since 1984, Real Capital Solutions has analysed, acquired and added value to real estate in America – through the ups and downturns! Spain’s economy post-2007 had some affinity with these situations. We monitored the market movements for some time and there did not appear to be a corporation in place who were willing to help accelerate change by taking charge of the bankrupt developments and transforming them into profitable real estate. We had a clear vision of the success that could be cultivated in the years to come if the right foundations were put into place.

How does the Spanish property industry compare to that of America?
Every real estate project is extremely complex wherever in the world you are. Within America, there are different rules governed by the different states. Just as we have done in each of these states, we knew that we would need to create a unified team of local and international experts who could help us to understand local legislation whilst retaining first-class quality in southern Spain.

Tell us about your achievements over the past three years…
Our initial forays into the Spanish property market proved highly successful, with the transformation of previously redundant buildings. We undertook complete renovation works and pricing restructures to convert bankrupt stock into €50,000,000 worth of property sales in just 24 months. We have since funded a new-build development of golf apartments and we are now promoting fully upgraded properties in an exclusive Elviria location.

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We understand that quality is a key factor of your property developments. How do you guarantee this?
Real Capital Solutions applies an exhaustive due diligence and quality control procedure to all of our works.
In terms of our renovation projects, we actively seek out developments where we know that there is potential to add value. We are extremely experienced in transforming neglected projects into something very appealing, suitable for the current market of buyers. Of course, new-build developments are somewhat more straightforward in terms of the concept and construction works, as we are in complete control of every detail and decision from the beginning.

This year is expected to be an important one for the Spanish economic recovery. What do you have planned?
Yes, property transactions continue to rise across Spain. And strategic investment in the coming two years is sure to propel the country from a status of recovery to that of significant growth. Over the last six months we have purchased four stunning plots of land across the Costa del Sol and we look forward to launching luxury apartments and villas for sale from summer 2016.

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What will the future bring for Real Capital Solutions Spain?
We certainly have enough to keep ourselves busy for the years to come. Already we are committed to completing four new-build developments plus sales at The Retreat, Elviria but we are always looking to expand our business network in terms of partnerships, acquisition and commercialisation across the Costa del Sol, the Canary Islands, Mallorca and Ibiza. We have an appetite for €100,000,000 more in acquisitions, so we welcome any opportunity that is brought to our attention.

Real Capital Solutions
Tel. (+34) 951 239 866
www.RCSspain.com/2016
www.retreatsantamariavillage.com