PORTFOLIO: FUND V
Sierra Blanca (Marbella)
Luxury condominiums in one of Marbella’s most desirable neighborhoods
The fund purchased this 1.3-hectare site on the Costa del Sol in an off-market transaction purchasing the NPL from a Spanish bank and negotiating a DIL. The project involves demolishing three large villas and using the footprint to build as many as 40 luxury condos on the plot in Sierra Blanca, one of Marbella’s wealthiest and most desirable residential neighborhoods.
The project will appeal to a broad range of high net worth buyers because the area has good airport links, a high-quality retail and leisure offering, international schools and world class golf courses. The investment fits with our strategy of targeting residential development opportunities in Spain’s most supply-constrained markets.