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Auria Project | Galicia

• Debt project in Ourense and Cangas, Galicia

• Amount: €1,010,000 // Term: 18 months

• 10.5% Simple annual interest

• 15.75% Total return 

• 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 a new project that consists of the granting of a loan to partially finance (i) the change of use from tertiary to residential and (ii) the renovation costs of 2 assets located in Galicia, specifically:

1. Ourense: change of use from office on mezzanine to residential for the development of 8 apartments with 1 and 2 bedrooms on Valle Inclán 1 Street, Ourense.

i. Built area: 564 m²

ii. Asset purchase: December 31, 2025, extendable 45 days

iii. Change of use license and major work reform granted in November 2025

iv. Construction: the construction will start in January after the purchase of the asset. A period of 12 months is estimated for the development of the work

v. Sales: there are no pre-sales to date, it is expected to start marketing after the purchase of the asset

2. Cangas: change of use from commercial premises to residential for the development of 3 apartments with 1 and 2 bedrooms on Ourense Avenue 19, Cangas.

i. Built area: 220 m²

ii. Asset purchase: it was formalized in July 2024.

iii. Change of use license and major work reform granted in November 2024

iv. Construction: the construction started in July 2025 and to date is about 50% complete. A period of 6 months is estimated until the completion of the work.

v. Sales: the promotion has 2 of the 3 units sold.

The works include a comprehensive interior reform and the redistribution of the asset in the planned dwellings in each respective basic project. 

Ourense, the asset is located on Buenos Aires Avenue, 23, one of the main residential arteries of Ourense, a consolidated and well-connected area that connects the city center with green areas and key facilities. The environment has a wide range of services, local shops, educational and health centers, as well as good public transport connections, making it a very attractive location for regular housing. Ourense has a stable residential demand and a housing stock mainly second-hand. 

Cangas (Pontevedra), the asset is located on Ourense Avenue, 19, the main urban axis of the town, well connected and close to both the urban center and the main access roads to the municipality. The environment has a complete provision of services, local shops, as well as a good connection with Vigo through maritime transport and by road, which enhances its residential appeal. Cangas has a solid demand linked to first residence and second home, supported by its quality of life, proximity to the sea and natural environment.