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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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Lavapiés 18

8d in stage· 28 unitsHigh priority
OverdueNext action18 Sept 20262d overdue·
Yield on cost
7,9 %

Cost and returns quoted on — change

Asking
TPC
7.726.173 €
275.935 € / unit
LP IRR
14,0 %
clears the 12,0 % bar
Yield on cost
7,9 %
clears the 7,0 % bar
Total cost
7.726.173 €
275.935 € a unit
LP equity
3.160.304 €
1,82× back
Stabilised NOI
612.075 €
on 1.189.266 € revenue
Exit
6.141.017 €
net of debt · year 5
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

28 units

WhatAmountSharePer unit
Purchase pricethe price on the plan6.300.000 €81,5 %225.000 €
Transfer tax (ITP)a rate on the price378.000 €4,9 %13.500 €
Stamp duty (AJD)a rate on the price47.250 €0,6 %1.688 €
Broker's commissiona rate on the price189.000 €2,4 %6.750 €
Due diligencea rate on the price31.500 €0,4 %

Still missing 2

Work the whole list →
  • Plan has 3 units, the deal says 28Per-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.
1.125 €
Notary, registry, SPV, tax advicefour figures on the plan8.700 €0,1 %311 €
Renovationper unit × the units, plus common areas, plus contingency196.000 €2,5 %7.000 €
FF&E and ITper unit × the units291.200 €3,8 %10.400 €
Permits, architect, designfigures on the plan130.000 €1,7 %4.643 €
The firm's feea share of the total, including itself154.523 €2,0 %5.519 €
Total project cost7.726.173 €100 %275.935 €

Deliberately outside this total

IVA fronted on works and fees177.744 €
Reclaimed, typically within 12 months. It changes when the money is needed, never what the building costs.