Barcelona · Residential build-to-sell
Financing for the refurbishment of a former office building in central Barcelona, converted into 19 luxury homes.
The operation
In central Barcelona, a developer with more than 800 million euros in completed transactions is refurbishing a former office building to convert it into 19 luxury homes.
The 14.8 million euro development loan finances the works with an LTGDV of 38%, a contained leverage level for a prime product in a highly established location.
The exit is refinancing upon delivery of the homes.
3 cases with a comparable structure in other markets.
Málaga
OngoingResidential build-to-sell · 5 luxury villas
Financing for the land purchase, the VAT generated on the sale and the construction of five luxury villas.
Sevilla
CompletedResidential build-to-sell · 30 apartments
Financing for the conversion of an office floor into 30 apartments and for the VAT arising from the purchase.
Madrid
CompletedResidential build-to-sell · 28 units
Financing for the purchase of a former office building in central Madrid and its full refurbishment into 28 homes.