When a Latin American investor asks how to access the European real estate market, one of the first questions that comes up is also one of the most important: "Is it better to enter as a partner in the project, or to lend money to the developer with a mortgage guarantee?" The answer depends on three variables: your risk profile, available capital, and long-term objectives. This article gives you the framework to decide with clarity. What is Secured Debt? In the secured debt m