{"id":4937,"date":"2025-03-28T05:18:33","date_gmt":"2025-03-28T05:18:33","guid":{"rendered":"https:\/\/crandon.eu\/private-credit\/"},"modified":"2026-09-01T14:48:17","modified_gmt":"2026-09-01T14:48:17","slug":"private-credit","status":"publish","type":"page","link":"https:\/\/crandon.eu\/en\/private-credit\/","title":{"rendered":"Private Credit"},"content":{"rendered":"\n
\n
<\/div><\/span>
\n
\n
\n

Private Credit
<\/h1>\n<\/div>\n\n\n\n
\n

Senior real estate debt with first-ranking mortgage guarantees.<\/h2>\n\n\n\n

Crandon’s Private Credit strategy focuses on originating, structuring, and overseeing senior real estate debt transactions secured by first-ranking mortgage guarantees, under mandate from professional and institutional investors, applying conservative criteria with capital protection as the priority in every transaction.<\/p>\n<\/div>\n<\/div>\n<\/div><\/div>\n<\/div>\n\n\n\n

\n
\n\n
\n
\n\n
\n\n\t
\n\t\t
\n\t\t\t\t\t\tAPPROACH <\/a>\n\t\t\t\t\t\tSTRATEGY <\/a>\n\t\t\t\t\t\tMETHODOLOGY<\/a>\n\t\t\t\t\t\tKPIS<\/a>\n\t\t\t\t\t\tFINANCING CRITERIA<\/a>\n\t\t\t\t\t\tTEAM<\/a>\n\t\t\t\t\t<\/div>\n\t<\/div>\n\n\t<\/div>\n\t<\/div>\n\n<\/section>\n\n<\/div>\n\n\n\n
\n
\n
\n

Our
Approach<\/h2>\n<\/div>\n\n\n\n
\n


Independent firm specializing in the origination, structuring, and oversight of real estate debt transactions under mandate from professional and institutional investors, applying technical judgment and operational discipline to deal selection and risk monitoring.<\/p>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n

\n
\n
\n

Strategy<\/h2>\n<\/div>\n\n\n\n
\n

Senior debt secured by first-ranking mortgage guarantees. Every transaction is structured under mandate using conservative criteria for loan size, LTV, and tenor, tailored to the asset and the deal itself.<\/p>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n

\n
\n
\n

Methodology<\/h2>\n<\/div>\n\n\n\n
\n

Crandon applies the same process to every transaction, structured across five consecutive phases that ensure traceability, risk control, and transparency for investors.<\/p>\n<\/div>\n<\/div>\n\n\n\n\n

\n\t
\n\t\t\n\t\t\n\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t

1<\/p>\n\t\t\t\t\t\t\t

Origination and analysis <\/h3>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t
\n\t\t\t\t\t\t
Identifying and structuring transactions through analysis of the borrower, the asset, and the deal's overall viability.<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\n\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t<\/g><\/clipPath><\/defs><\/svg>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\n\n\t\t\n\t\t\n\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t

2<\/p>\n\t\t\t\t\t\t\t

Negotiation and formalization<\/h3>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t
\n\t\t\t\t\t\t
Defining terms, coordinating due diligence, and closing contracts with a security package aligned with the transaction's risk profile.<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\n\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t<\/g><\/clipPath><\/defs><\/svg>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\n\n\t\t\n\t\t\n\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t

3<\/p>\n\t\t\t\t\t\t\t

Supervision and monitoring<\/h3>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t
\n\t\t\t\t\t\t
Ongoing oversight of the asset, collateral coverage, and the risk factors identified from the outset.<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\n\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t<\/g><\/clipPath><\/defs><\/svg>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\n\n\t\t\n\t\t\n\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t

4<\/p>\n\t\t\t\t\t\t\t

Reporting and communication <\/h3>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t
\n\t\t\t\t\t\t
Regular updates to investors on performance, covenant compliance, and returns generated.<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\n\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t<\/g><\/clipPath><\/defs><\/svg>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\n\n\t\t\n\t\t\n\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t

5<\/p>\n\t\t\t\t\t\t\t

Divestment and exit<\/h3>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t
\n\t\t\t\t\t\t
Executing repayment, asset sale, or transfer of the position, in line with terms set at the outset.<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\n\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t<\/g><\/clipPath><\/defs><\/svg>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\n\n\t\t\t<\/div>\n<\/section>\n<\/div>\n\n\n\n
<\/div><\/span>
\n

<\/p>\n<\/div><\/div>\n\n\n\n

\n
\n
\n

Strategic
Principles<\/h2>\n<\/div>\n\n\n\n
\n

<\/p>\n<\/div>\n<\/div>\n\n\n\n\n

\n
\n\t\t
\n\t\t\n\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t\t\t\t

Collateral quality and liquidity<\/h3>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t
\n\t\t\t\t\t\t

Transactions backed by assets in markets with structural demand and solid fundamentals, supported by verified market value and realizable liquidity.<\/p>\n

\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\n\t\t\t\t\t\n\t\t\t

\n\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t\t\t\t

Risk-adjusted return <\/h3>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t
\n\t\t\t\t\t\t

Every transaction is assessed on its actual risk-return profile, using conservative structures that prioritize capital protection over maximizing returns.<\/p>\n

\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\n\t\t\t\t\t\n\t\t\t

\n\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t\t\t\t

Defined time horizon<\/h3>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t
\n\t\t\t\t\t\t

Fixed terms and conditions set from the outset, giving investors visibility and predictability throughout the life of each transaction.<\/p>\n

\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\n\t\t\t\t\t\n\t\t\t

\n\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t\t\t\t

Aligned interests<\/h3>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t
\n\t\t\t\t\t\t

Crandon’s compensation is tied to the performance of each transaction, keeping the team’s incentives aligned with investors’ return objectives.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\n\t\t\t\t\t\t\t<\/div>\n\t<\/div>\n<\/section>\n\n<\/div>\n\n\n\n

\n

Track Record and operational capacity<\/h2>\n\n\n\n
\n
\n

<\/p>\n<\/div>\n<\/div>\n\n\n\n\n\n

\n
\n\n\t\t\t\t\t
Experience <\/div><\/div>\n\t\t\n\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t

+12 years<\/h3>\n\n\t\t\t\t\t
\n\t\t\t\t\t\tin senior real estate debt\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t

+10.000M\u20ac<\/h3>\n\n\t\t\t\t\t
\n\t\t\t\t\t\tin analyzed transactions\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\n\t<\/div>\n<\/section>\n\n\n\n\n\n\n
\n
\n\n\t\t\t\t\t
Activity originated and supervised<\/div><\/div>\n\t\t\n\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t

+300<\/h3>\n\n\t\t\t\t\t
\n\t\t\t\t\t\ttransactions originated, structured and monitored\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t

+1.200 M\u20ac<\/h3>\n\n\t\t\t\t\t
\n\t\t\t\t\t\tin real estate collateral\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t

Zero<\/h3>\n\n\t\t\t\t\t
\n\t\t\t\t\t\tcapital losses\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\n\t<\/div>\n<\/section>\n\n<\/div>\n\n\n\n
\n
\n
\n

Standard Structuring Parameters<\/h2>\n<\/div>\n\n\n\n
\n

<\/p>\n<\/div>\n<\/div>\n\n\n\n

\n
\n
\n

Loan size<\/p>\n<\/div>\n\n\n\n

\n

up to \u20ac25 million per transaction.<\/p>\n<\/div>\n<\/div>\n\n\n\n

\n
\n

LTV<\/p>\n<\/div>\n\n\n\n

\n

weighted average below 50%.<\/p>\n<\/div>\n<\/div>\n\n\n\n

\n
\n

Deadline<\/p>\n<\/div>\n\n\n\n

\n

initial 12-month terms with the option to extend up to 36 months, depending on the asset and exit strategy.<\/p>\n<\/div>\n<\/div>\n\n\n\n

\n
\n

Collateral<\/p>\n<\/div>\n\n\n\n

\n

first-ranking mortgage guarantees on residential, commercial, hotel, office, and mixed-use assets, complemented by additional guarantees and covenants.<\/p>\n<\/div>\n<\/div>\n\n\n\n

\n
\n

Legal structure<\/p>\n<\/div>\n\n\n\n

\n

commercial loans or structures subject to Law 5\/2019, always backed by first-ranking mortgage guarantees.<\/p>\n<\/div>\n<\/div>\n\n\n\n

\n
\n

Debt Service<\/p>\n<\/div>\n\n\n\n

\n

flexible amortization schedules, grace periods, and liquidity mechanisms, tailored to the specifics of each transaction.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n

\n
\n
\n

Our Team<\/h2>\n\n\n\n

View all<\/a><\/p>\n<\/div>\n\n\n\n

\n

Specialized team in real estate Private Credit, with technical expertise and operational discipline in every phase of the transaction.<\/p>\n<\/div>\n<\/div>\n\n\n\n

\n\n
\n \n
\n
\n
\n
\n \n\n
\n \"nuria <\/figure>\n\n

N\u00faria Tutusaus<\/h3>\n\n \n

Co-Managing Director<\/p>\n \n \n\n <\/a>\n <\/div>\n

\n \n\n
\n \"Marti <\/figure>\n\n

Mart\u00ed Sarri<\/h3>\n\n \n

Co-Managing Director<\/p>\n \n \n\n <\/a>\n <\/div>\n

\n \n\n
\n \"Ignacio <\/figure>\n\n

Ignacio de Ochoa<\/h3>\n\n \n

Private Credit<\/p>\n \n \n\n <\/a>\n <\/div>\n

\n \n\n
\n \"alejo <\/figure>\n\n

Alejo Farriols<\/h3>\n\n \n

Private Credit <\/p>\n \n \n\n <\/a>\n <\/div>\n

\n \n\n
\n \"Laura <\/figure>\n\n

Laura Torr\u00f3<\/h3>\n\n \n

Private Credit<\/p>\n \n \n\n <\/a>\n <\/div>\n \n <\/div>\n\n

\n
\n
\n
<\/div>\n <\/div>\n
\n
<\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n\n <\/section>\n\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

OurApproach Independent firm specializing in the origination, structuring, and oversight of real estate debt transactions under mandate from professional and institutional investors, applying technical judgment and operational discipline to deal selection and risk monitoring. Strategy Senior debt secured by first-ranking mortgage guarantees. Every transaction is structured under mandate using conservative criteria for loan size, LTV, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"templates\/page-sticky-title.php","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-4937","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/crandon.eu\/en\/wp-json\/wp\/v2\/pages\/4937","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/crandon.eu\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/crandon.eu\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/crandon.eu\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/crandon.eu\/en\/wp-json\/wp\/v2\/comments?post=4937"}],"version-history":[{"count":4,"href":"https:\/\/crandon.eu\/en\/wp-json\/wp\/v2\/pages\/4937\/revisions"}],"predecessor-version":[{"id":5248,"href":"https:\/\/crandon.eu\/en\/wp-json\/wp\/v2\/pages\/4937\/revisions\/5248"}],"wp:attachment":[{"href":"https:\/\/crandon.eu\/en\/wp-json\/wp\/v2\/media?parent=4937"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}