Pinares de San Antón II Project | Málaga

• Debt project in Málaga

• Tranche B Amount: 2,070,000€ // Term: 5 months+12 months extension

• 10.75% Simple annual interest

• Loan guarantees

     1. First rank mortgage on the asset.

     2. Pledge of the shares of the SPV owning the asset.

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

We present the second tranche (Tranche B) of a loan granted in July 2024 to Cogitari Homes for partial financing of the construction costs and general costs of Phase I of the Pinares de San Antón Project. The project – including Phases I and II consists of the development of a residential complex of 13 luxury villas in Pinares de San Antón, east of Málaga. The perimeter of Phase I covers the full development, the retaining walls of Phase I plus villas 3, 4 and 10, as well as the construction of villas 1,2,5,6,7,8 and 9 and the furniture of villas 5 and 7. Tranche A of the Loan was raised in July 2024 to finance part of the construction costs and part of the general costs of Phase I of the project. Tranche B will cover the continuation of the works, as well as other costs associated with the project. 

The development is located at Pinea Street 4, in the Pinares de San Antón neighborhood in East Málaga, municipality of Málaga. The neighborhood is located on the Cerro de San Antón, in a natural and mountainous area on the outskirts of Málaga, which allows the villas to have a direct view of the sea over the bay of Málaga. Less than 20 minutes (6 kilometers) from the center of Málaga, it has forest parks, viewpoints and even caves less than 1 kilometer away, with all kinds of services – schools, hospitals, supermarkets or sports centers – less than 5 minutes by car.

Málaga is currently the 6th most populated city in Spain in 2024 and among the 7 provinces that grew the most in 2023. Málaga, capital of La Costa del Sol, has the 4th airport with the highest influx of passengers in the country and leads economic growth in Andalusia with a GDP growth in 2023 of 3.6% (1.15% more than the Andalusian GDP) and an increase in employment of 4.5% (1 point more than the region). Likewise, Málaga has a strong and expanding business fabric given the economic and technological transformation led by the municipality, attracting 18 international technology companies in 2023. It has large beaches, natural spaces, golf courses, luxury residential complexes, shops and restaurants.