Station Viewpoint Project

• Debt project in Madrid

• Amount: €4,190,000 // Term: 12 months

• 11.0% total profitability 

• Loan guarantees

          1. First rank mortgage on the asset.

          2. Pledge of the bank accounts of the SPV owning the asset.

We present a new project that consists of granting a bridge loan for the partial financing of the acquisition of a plot in Colmenar Viejo, Madrid. It is a plot auctioned in Colmenar Viejo on which a development of 45 single-family homes will be developed. 

The asset is a plot in Colmenar Viejo - near the recently financed El Olivo project on the platform - in Madrid. The project consists of the purchase of a plot awarded to the manager for the complete planning of the project and obtaining all the urban planning permits to start the work while the promotion is marketed off-plan. Once the milestones of (i) obtaining a building license and (ii) 70% of sales are met, the bank will extend the developer loan to finance the construction of the project and the refinancing of the Urbanitae loan.

The houses will have 4 bedrooms, 3 bathrooms, living room, dining room, kitchen and storage room distributed on 2 floors above ground - ground floor and first floor. They include two private gardens both in the front with parking space, and in the back of the house with access to the communal pool and extensive common area. 

The plot is located in Colmenar Viejo, in the neighborhood near the train station south of the municipality. Located in one of the most sought-after areas of the municipality due to its southern expansion and location close to parks and green areas, as well as, the Regional Park of the Upper Manzanares Basin.

Just one kilometer from the center of the municipality, it has all kinds of services less than 5 minutes away, including schools, hospitals, sports facilities, supermarkets or restaurants. The train station is 350 meters away, the M-607 highway is 2.5 km away and Madrid capital is 20 km away.