Pinares de San Antón III Project | Málaga

• Debt project in Málaga

• Amount Tranche B: 2,070,000€ // Term: 5.5 months (loan already extended)

• 10.25% 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 third tranche (Tranche C) of a loan granted in July 2024 to COGITARI HOMES for the partial financing of the construction costs and general costs of Phase I of the Pinares de San Antón Project in Pinares. The Tranche A of the Loan was raised in July 2024 and the Tranche B of the Loan was raised in March 2025. 

The perimeter of Phase I includes (i) the construction of the complete urbanization, (ii) villas 1,2,5,6,7,8 and 9 within a total set of 13 houses, (iii) the retaining walls of the villas corresponding to Phase I and the walls of villas 3, 4 and 10 (iv) and the furniture of villas 5 and 7. 

Located on Pinea Street 4, in the neighborhood of Pinares de San Antón, a natural and mountainous area to the east of the municipality of Málaga. The villas have a direct view of the sea and are less than 20 minutes by car (6 kilometers) from the center of Málaga. The villas will have 4 - 5 bedrooms, 3 - 4 bathrooms and 3 - 4 parking spaces. Distributed over 3 floors and will be located in a private community with security. They include an office, a basement game room to be converted into a cinema or gym and a plot with a large garden populated with covered and uncovered terraces and a pool.

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.