European real estate finance provider Maslow Capital has provided €44.2m for the development of a Spanish residential scheme by a ConceptHomes-led investor group.
Maslow said the loan will support the construction of 88 apartments across 11 blocks in Elviria, Marbella, being delivered by the investors, including crowdfunding platform Urbanitae.
In addition to 203 parking spaces and 88 storage rooms, the development will feature amenities including swimming pools, a gym, spa, coworking spaces and landscaped gardens.
Francisco Conde, director of origination in Spain, said: “Marbella is consolidating its position as one of the most attractive residential markets in Europe, driven by strong international demand.
“We are pleased to finance a project that reflects this dynamism and reinforces our commitment to supporting the development of first-class residential schemes in Spain.”
ConceptHomes, led by Javier Curto and Víctor González-Valle, said: “Maslow Capital has experience in financing this type of asset, as well as a deep understanding of Marbella’s residential market, both of which were key factors in this transaction.
“Its track record and ability to structure a solution tailored to the needs of the project gave us the confidence required to undertake the development of a high-profile scheme aimed primarily at the second-home market.”
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