San Sebastián de los Reyes · Residential build-to-sell
Financing for the construction of 340 lofts in northern Madrid, with 70% of the units sold at closing.
The operation
First phase of a loft project in northern Madrid, developed by a leading real estate company with more than 1,900 units delivered in the area.
The 17.8 million euro development loan finances the construction of 340 lofts, with LTGDV and LTC ratios in a conservative range. At the closing of the financing, 70% of the units were sold, an unusually high level of pre-sales.
The exit is refinancing upon delivery of the units. The success of this phase led to the second one, also financed by Xenia.
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.