Converting can boost value, but it can also get stuck due to planning rules or technical constraints. We break down what to check first and how to judge whether the risk is properly priced
We are providing a €1 million loan to finance the construction works of a 27-unit tourist apartment project already under way, until bank financing – already signed – takes us out.
The project involves acquiring an office building in the Arganzuela district to stabilise it with market rents and sell it to an institutional investor.
The transaction is based on an entry price below market value, a full renovation to reposition the asset, and an urban area with growing demand for residential rentals.