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© 2026 Ittai Savran. All rights reserved.e38cf50 · 20 Sept, 22:07 Madrid
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You are looking as the firm — the desk at Marisol Patrimonio, where deals are worked.

The firmThe investor
What this is|
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Triana 14

4d in stage· 18 units
Yield on cost
8,4 %

Cost and returns quoted on — change

Asking
TPC
3.981.658 €
221.203 € / unit
LP IRR
16,6 %
clears the 12,0 % bar
Yield on cost
8,4 %
clears the 7,0 % bar
Total cost
3.981.658 €
221.203 € a unit
LP equity
1.629.593 €
1,77× back
Stabilised NOI
334.099 €
on 756.956 € revenue
Exit
3.222.288 €
net of debt · year 4
How safe is itany two assumptions as a gridChange an assumptionrevenue, operations, capex, financeThe structures side by sideloan, equity, cover, return

How the cost is built

18 units

WhatAmountSharePer unit
Purchase pricethe price on the plan3.250.000 €81,6 %180.556 €
Transfer tax (ITP)a rate on the price195.000 €4,9 %10.833 €
Stamp duty (AJD)a rate on the price24.375 €0,6 %1.354 €
Broker's commissiona rate on the price97.500 €2,4 %5.417 €
Due diligencea rate on the price16.250 €0,4 %

Still missing 2

Work the whole list →
  • Plan has 2 units, the deal says 18Per-unit figures divide by different numbers on the two screens.Assumptions
  • Interior design and procurementCounted as zero in total project cost, so the yield reads high.Assumptions
Open this model in ExcelLive formulas, not a printout — change an input and the returns move. Every figure foots to the model above, to the euro.
903 €
Notary, registry, SPV, tax advicefour figures on the plan8.700 €0,2 %483 €
Renovationper unit × the units, plus common areas, plus contingency86.000 €2,2 %4.778 €
FF&E and ITper unit × the units163.200 €4,1 %9.067 €
Permits, architect, designfigures on the plan61.000 €1,5 %3.389 €
The firm's feea share of the total, including itself79.633 €2,0 %4.424 €
Total project cost3.981.658 €100 %221.203 €

Deliberately outside this total

IVA fronted on works and fees90.857 €
Reclaimed, typically within 12 months. It changes when the money is needed, never what the building costs.