San Sebastián de los Reyes · Residential build-to-sell
Financing for the construction of 331 lofts, the second phase of a project with a leading developer in the area.
The operation
Following the first phase, the same loft project in northern Madrid moves into a second phase of 331 units. The developer is a leading real estate company, with more than 2,000 units delivered in the area.
The 21 million euro development loan finances the construction, with LTGDV and LTC ratios in a conservative range. At the time of financing, 30% of the units were sold.
The exit is refinancing upon delivery of the lofts to their buyers.
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.