Unlocking Stalled Real Estate Projects Through Capital, Clarity, and System Design
Connecting Investors with Developers
Turning high-quality assets into deliverable outcomes
A developer–builder in Croatia had secured a portfolio of A-grade real estate assets, predominantly land with strong long-term potential.
The projects were well located, strategically sound, and designed for either sale or long-term operation.
However, bringing the portfolio to completion required approximately €150 million in total investment across development, construction, and commercialization.
When external liquidity pressures disrupted the developer’s usual funding sources, progress stalled.
Despite the quality of the assets, the developer could no longer finance any stage of development or construction.
The challenge was not the projects themselves—but the gap between local development expertise and international capital expectations.
Our Role
HashtagOne stepped in to bridge the gap between developer and capital. We worked first to understand the full portfolio of projects—commercially, operationally, and technically—then translated that understanding into realistic, investable business cases.
As trust developed, we were engaged by the investors to act as an independent operating partner and intermediary, responsible for managing the relationship, controlling budgets, and ensuring disciplined execution.
Our role was not advisory alone. We were given a significant operating mandate to unlock the full potential of the projects.
Outcome
High-quality assets that were previously stalled moved into active development and delivery
International capital was deployed with confidence and control
The developer gained a structured pathway to scale beyond self-funded growth
Investors gained visibility, governance, and disciplined execution
A diversified mix of sale and long-term rental assets was successfully delivered
Most importantly, trust was rebuilt—between capital, developer, and delivery.
What we did
The challenge
The developer was highly capable, experienced, and accustomed to working independently—using his own capital and long-standing local lenders.
What he lacked was experience in:
structuring projects for international investors,
translating development plans into investor-ready business cases, and
managing the governance, transparency, and controls required at that scale.
At the same time, international investors saw opportunity—but required clarity, discipline, and confidence before committing capital.
What was missing was a system that could connect both sides—and hold the complexity together.
Making the projects investable
We began by working closely with the developer to:
understand each project’s true potential and constraints,
rebuild financial models and development assumptions, and
create realistic projections grounded in market, cost, and delivery reality.
These business cases were then shared with international investors, with HashtagOne leading all clarification, stress-testing, and responses to detailed investor questions.
The goal was not to oversell—but to create shared confidence through clarity.
Designing a system that investors could trust
Once funding was secured, our role expanded.
We acted as the operational link between investors and the developer, ensuring:
transparent governance and reporting,
disciplined budget control,
aligned decision-making, and
active risk management throughout delivery.
We managed the flow of information and decisions so that:
the developer could focus on building, and
investors could remain confident their capital was being protected and deployed as intended.
From stalled assets to working outcomes
With capital, governance, and execution aligned, projects moved forward. Development and construction progressed under active oversight.
Some assets were completed and successfully sold, realizing capital returns. Others were retained as build-to-rent assets, creating long-term income streams and portfolio stability.
The portfolio shifted from stalled potential to working, value-generating assets.