Málaga · Residential build-to-sell
Financing for the land purchase and construction of 45 homes in a prime location in Málaga.
The operation
An experienced developer is building 45 homes in a prime location in Málaga and needed to finance both the land purchase and the construction.
The 9.4 million euro development loan covers both items. The wide margin of the project over costs and the quality of the location support the structure, with an LTGDV of 49%.
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.