Daisy Project | Madrid

• Debt project in Madrid

• Amount: 970,000€ // Term: 24 months

• 13% Simple annual interest

• 26% Total profitability 

• 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

     4. Commitment Letter for additional Equity contribution during the project

We present a new project that consists of the granting of a loan intended to partially finance the acquisition of an existing building, as well as a part of the demolition costs and general costs of the Project consisting of the promotion of 15 homes with storage rooms, located on Margaritas Street 56, Madrid. 

The project manager signed a deposit contract in June, and must exercise the purchase option during the month of September. The manager will pay part of the purchase price and the rest will be financed by the loan from Urbanitae investors. The developer will pay part of the general costs of the project with own funds until obtaining the Building License and reaching the level of pre-sales required by the bank for the entry of the developer loan.

Once the asset is acquired, the Building License will be requested, which is expected to be obtained in the next 20–24 months. The exit of the loan will be carried out through bank refinancing with the entry of the developer loan once the Building License is obtained and the level of pre-sales required by the bank is reached.

The project consists of the promotion of a new 4-story building above ground (low+III) and one floor below ground for 15 1 and 2 bedroom homes with storage rooms, with a constructed area of 1,086 m². 

The basement floor will house 15 storage rooms, a gym, bicycle parking and technical rooms. The homes are distributed on the ground floor, first, second and attic. 

The asset is located on Margaritas Street 56, in the Berruguete neighborhood, within the Tetuán district, Madrid. It is a central and well-connected location, close to the Francos Rodríguez metro station (Line 7), several bus lines, the Agustín Rodríguez Sahagún park and the Bravo Murillo shopping area, which guarantees excellent accessibility and a wide range of services in the environment. 

Tetuán is a consolidated district of Madrid that combines tradition and modernity. With a marked local identity, it stands out for its multicultural atmosphere, its varied commercial offer and its proximity to the AZCA financial center. In addition, it has an excellent public transport network and a wide range of services, making it an attractive area both to live and to invest.