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José de Larrea y TocónReal Estate · Private Capital

Real Estate & Transaction Strategy

José works across the full transaction cycle—from initial opportunity review and underwriting through capital structure, partner alignment, due diligence, negotiation, and execution coordination.

Transaction Disciplines

A principal-level view across the full cycle.

Each phase of a transaction is evaluated on its own terms, then reconciled into a single defensible structure.

01

Underwriting and Feasibility

  • Acquisition basis
  • Development budget
  • Operating assumptions
  • Leverage
  • Cash flow
  • Returns
  • Sensitivities
  • Exit value
  • Schedule
  • Downside cases
02

Capital Structure

  • Senior debt
  • Subordinate capital
  • Preferred equity
  • Common equity
  • Co-investment
  • Liquidity reserves
  • Funding sequence
03

LP/GP/Sponsor Joint Ventures

  • Preferred returns
  • Waterfalls
  • Promotes
  • Catch-ups
  • Co-investment
  • Governance
  • Control rights
  • Removal rights
  • Dilution
  • Exit provisions
04

Due Diligence

  • Title
  • Survey
  • Zoning
  • Land use
  • Environmental
  • Flood
  • Insurance
  • Construction
  • Appraisal
  • Feasibility
  • Municipal records
  • Contracts
  • Financial reconciliation
05

Risk and Downside Protection

  • Basis risk
  • Entitlement risk
  • Construction risk
  • Capital shortfalls
  • Cost overruns
  • Timing
  • Guarantees
  • Partner misalignment
  • Liquidity
  • Exit risk
06

Execution Coordination

  • Principals
  • Sponsors
  • Lenders
  • Capital providers
  • Attorneys
  • Tax advisers
  • Architects
  • Engineers
  • Contractors
  • Consultants
  • Other professional parties

Representative Experience

Confidential by default.

Representative transactions may be presented where disclosure is authorized. Confidential mandates, counterparties, economics, and transaction values are not publicly identified.

Project names, locations, values, returns, investors, lenders, partners, and José’s role in a transaction are not published unless separately approved.

Role Separation

Responsibilities vary by transaction.

José’s role varies by transaction and may involve principal, sponsor, board, administrative, analytical, or coordination responsibilities. References to transaction experience do not imply ownership, control, brokerage, financing commitments, or responsibility for the obligations of another party.