Rivas-Vaciamadrid · Alternative living
Financing for the construction of 251 tourist apartments and 16 retail units, with more than 60% sold before closing.
The operation
In Rivas-Vaciamadrid, a developer with extensive experience in the area is building 251 tourist apartments and 16 retail units, an asset type that traditional banks finance only with difficulty.
The 18.8 million euro development loan finances the construction with leverage ratios in a conservative range and with more than 60% of the units sold before the financing closed.
The exit is refinancing upon delivery of the units.
3 cases with a comparable structure in other markets.
Madrid
CompletedAlternative living · 170 apartments
Financing for the purchase of the building and the development of 170 short and medium-stay apartments in central Madrid.
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.