RESIDENTIAL REAL ESTATE · SPAIN & DUBAI · FROM €100,000
European capital deserves access to the world's best residential markets.
We make Spanish and Dubai real estate investable for serious European investors — with the structure, governance, and transparency they require.
One carefully selected asset at a time. One Dutch Cooperatie per deal. Full institutional discipline — from underwriting through exit. Starting at €100,000.
20+
Years institutional capital markets
€100K
Minimum investment ticket
Spain · Dubai
Active & pipeline markets
1 asset
Per Cooperatie — full risk isolation
HOW IT WORKS
One structure. Repeatable discipline. Complete clarity at every step.
We don't operate a blind pool. Every investor knows exactly which asset they own, how it is structured, and when they will exit — before a single euro is committed.
01 — ALIGN
We understand your position
Investment profile, risk parameters, tax situation, and time horizon. No deployment without alignment. No structure without clarity on your objectives first.
02 — STRUCTURE
We build the vehicle around the asset
Each deal is wrapped in a dedicated Dutch Cooperatie UA — one asset, one structure, full risk isolation. Tax-efficient, legally robust, familiar to Dutch notaries and advisors.
03 — EXECUTE
We underwrite and acquire
Off-market sourcing. Conservative assumptions. Debt structured only where it improves risk-adjusted returns. Capital is committed after rigorous diligence — not before.
04 — PARTNER
We stay accountable through exit
Quarterly reporting. Renovation oversight. Full exit management. Proceeds distributed within 60 days of sale. Our role does not end at close — it ends when you receive your return.
OUR MARKETS
Two of Europe's most compelling residential opportunities. One platform.
We focus where structural fundamentals are strongest — supply deficits, yield premiums, and favourable tax treatment for European investors.
Active — opportunities available
Spain — Residential
A 600,000-unit housing deficit by 2030. Gross yields of 4.5–6.5%. Off-market acquisition through an established local partner with a documented track record across Barcelona, Valencia, and Tarragona. Structured via Dutch Cooperatie for full Box 3 efficiency.
Gross yield: 4.5–6.5%
Target hold: 3–5 years
Min. ticket: €100,000
Pipeline — register interest
Dubai — Residential
Zero capital gains tax. Gross yields of 8–12%. Shorter hold periods and a highly liquid secondary market. The same Dutch Cooperatie structure, deployed into a DIFC SPV. Deployment contingent on market normalisation.
Gross yield: 8–12%
Target hold: 12–24 months
Cap. gains tax: 0%
TRACK RECORD
Execution is not a claim. It is a history.
The transactions below were completed by ARC Homes, our exclusive Spanish acquisition and construction partner. They form the basis of our shared underwriting discipline and define the standard we hold every deal to.
300
Residential units completed
~18.6%
Weighted avg. gross IRR
~1.8x
Weighted avg. equity multiple
9
Completed projects across Spain
THE TEAM
Dutch institutional expertise. Spanish and Dubai local execution.
One conviction — that disciplined capital deployment produces better outcomes than opportunistic deal-making.
JP
Just Pereboom
FOUNDER & MANAGING PARTNER
20+ years in institutional real estate capital markets. Former CIO and CFO at a Dutch luxury residential developer. Led treasury and corporate finance at Prologis during the Global Financial Crisis.
Prologis
EDGE
OVG
If you are considering real estate as part of a serious portfolio — let's have a conversation.
We work with a select number of investors per deal. Introductory conversations are by appointment. There is no obligation and no sales process — only a direct discussion about whether this is the right fit.
www.just-capitalpartners.com · +31 (0)6 52078714
This website does not constitute financial advice or a solicitation to invest. Capital is at risk.
JUST CAPITAL PARTNERS
Built by someone who has sat on both sides of the table.
Twenty years structuring, deploying, and governing institutional capital — now applied to a single, focused mandate: disciplined residential investment in Spain and Dubai for European investors.
Founder
Just Pereboom
I founded Just Capital Partners to fill a gap I encountered repeatedly throughout my career — international investors with serious capital, no access to the right structures, and no local partner they could trust.
I have been on the institutional side at Prologis, the development side at EDGE and OVG, and the investor-facing side as CIO and CFO of a Dutch residential developer. Each role taught me something different about where capital gets lost — and where it gets made.
Just Capital Partners is the platform I would have wanted as a client. One asset at a time. One structure per deal. Full transparency from entry to exit — and a managing partner who is directly accountable for every decision made.
The platform
We focus on Spanish residential real estate — a market defined by a structural supply deficit, durable rental demand, and yields that remain materially higher than comparable Northern European assets.
Our pipeline extends to Dubai, where the same investor logic applies with superior fundamentals: zero capital gains tax, shorter hold periods, and a highly liquid secondary market.
Every investment is structured through a Dutch Cooperatie UA — a familiar, legally robust vehicle that European investors and their advisors already understand. We work with a select number of investors per deal. We are not a fund. We are a partnership — and we choose our partners carefully.
If this sounds like the kind of platform you have been looking for — let's have a conversation.
This website does not constitute financial advice or a solicitation to invest. Capital is at risk.
WHERE WE INVEST
Two markets. One discipline. Consistent institutional standards across every deal.
We invest where supply deficits are structural, yields are durable, and tax treatment is favourable for European investors. We do not diversify for its own sake — every market we enter meets the same underwriting standard.
MARKET 01
Spain — Residential
Spain needs 600,000 new residential units by 2030. Annual permitted supply is running at roughly 100,000. That gap is not closing — and it is creating durable pricing power in markets where we operate.
Combined with gross residential yields of 4.5–6.5% and the Box 3 efficiency of the Cooperatie structure, Spain offers European investors a compelling combination of income, growth, and tax advantage.
Our edge
We acquire off-market through ARC Homes — our exclusive local partner with a documented track record across Barcelona, Valencia, and Tarragona. Over 70% of Spanish mid-market transactions trade off-market. Without the right relationships, investors see only overpriced listed stock. We do not.
Gross yield: 4.5–6.5%
Target hold: 3–5 years
Min. ticket: €100,000
Structure: Dutch Cooperatie UA
Status: Active — opportunities available
MARKET 02
Dubai — Residential
Dubai offers the same investor logic as Spain — hard assets, fractional co-ownership, Dutch Cooperatie structure — with superior fundamentals. Zero capital gains tax. Gross yields of 8–12%. Hold periods of 12–24 months.
The AED is USD-pegged, providing effective currency stability for EUR-denominated investors. 100% foreign freehold ownership in designated zones removes the nominee complexity found in many comparable markets.
Timing
Our Dubai deployment is contingent on market normalisation following the current Iran-UAE conflict. We are using this preparation period to complete legal structuring, commission tax opinions, and build local operator relationships — so we can move in week one of a ceasefire, not week six.
Investors who register interest now will have priority co-investment rights on the first deal.
Gross yield: 8–12%
Target hold: 12–24 months
Cap. gains tax: 0%
Structure: Dutch Cooperatie → DIFC SPV
Status: Pipeline — register interest
This website does not constitute financial advice or a solicitation to invest. Capital is at risk.
HOW WE INVEST
Structure is not an afterthought. It is where returns are made or lost.
Every investment begins with the capital stack — not the asset. We determine the right structure before a single euro is deployed, and we govern it with full transparency until exit.
CAPITAL STRATEGY
Debt & Equity Structuring
We determine the appropriate balance between senior debt, mezzanine financing, and equity for each asset. Leverage is applied conservatively — only where it demonstrably improves risk-adjusted returns. Financing is sourced through established relationships with international and local banks and private credit providers. Efficient capital deployment with controlled downside exposure is the objective. Not maximum leverage.
Cross-Border Capital Alignment
We align international capital with local execution. Investment structures are designed from the outset to match investor jurisdictions, governance requirements, and reporting expectations. Currency considerations, tax positioning, and legal frameworks are addressed before commitment — not discovered at close. Capital deploys across borders without unnecessary complexity or misalignment.
Institutional Underwriting
Capital is committed only after rigorous underwriting. Our process includes detailed market analysis, asset-level financial modelling, debt and interest rate sensitivity testing, exit scenario analysis, and operator assessment. We underwrite to conservative assumptions and evaluate performance across multiple market conditions. We do not invest on momentum.
Governance & Risk Management
Risk management begins before acquisition and continues throughout the investment lifecycle. We prioritise conservative leverage, downside scenario modelling, phased capital deployment, and active performance monitoring. Clear governance — structured reporting, defined decision-making frameworks, full alignment of interests — is essential to long-term capital partnerships. Capital preservation is the foundation of long-term return generation.
Capital is structured carefully. Deployed selectively. Managed with discipline and accountability.
This website does not constitute financial advice or a solicitation to invest. Capital is at risk.
MARKET PERSPECTIVE
We invest where we have conviction. Here is the thinking behind it.
Short-form commentary on the markets, structures, and conditions that shape how we deploy capital.
INSIGHTS
What the Box 3 ruling means for Dutch investors in 2026
The Dutch Supreme Court's 2021 ruling created more than a legal challenge — it created a capital migration. Every replacement proposal since has introduced more uncertainty and higher effective rates on wealth that hasn't actually grown. Here is what it means in practice, and what structures are available today.
Article coming soon — follow us on LinkedIn
Spain's 600,000-unit deficit: why missing homes matter to investors
Spain needs 600,000 new residential units by 2030. Only 100,000 are being permitted annually. That gap is structural — driven by planning constraints, construction capacity, and land availability — and it is not resolving. Here is why a supply deficit of this scale creates durable pricing power for disciplined investors operating in the right sub-markets.
Article coming soon — follow us on LinkedIn
ECB rate cuts and the case for Spanish residential in 2026
Four ECB rate cuts in 2024–25 have materially changed the financing landscape across Southern Europe. The Spanish 10-year now stands at 3.1%, down from a peak of 4.1%. Contracting financing costs are re-accelerating buyer demand across all segments. Here is what that means for entry pricing, debt costs, and exit timing on Spanish residential assets.
Article coming soon — follow us on LinkedIn
This website does not constitute financial advice or a solicitation to invest. Capital is at risk.
GET IN TOUCH
Every partnership begins with a conversation.
We work with a select number of investors per deal. If you are considering Spanish or Dubai residential real estate as part of a serious portfolio — we would like to hear from you.
There is no sales process. Introductory conversations are direct, confidential, and without obligation. We will ask you a few questions about your investment profile, and we will answer any questions you have about our structure, our deals, and our approach.
Request a conversation
This website does not constitute financial advice or a solicitation to invest.