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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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Vegueta 27

8d in stage· 24 units
Yield on cost
8,5 %

Cost and returns quoted on — change

Asking
TPC
4.849.031 €
202.043 € / unit
LP IRR
15,6 %
clears the 12,0 % bar
Yield on cost
8,5 %
clears the 7,0 % bar
Total cost
4.849.031 €
202.043 € a unit
LP equity
1.794.989 €
2,44× back
Stabilised NOI
410.145 €
on 898.286 € revenue
Exit
4.606.511 €
net of debt · year 7
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

24 units

WhatAmountSharePer unit
Purchase pricethe price on the plan3.900.000 €80,4 %162.500 €
Transfer tax (ITP)a rate on the price234.000 €4,8 %9.750 €
Stamp duty (AJD)a rate on the price29.250 €0,6 %1.219 €
Broker's commissiona rate on the price117.000 €2,4 %4.875 €
Due diligencea rate on the price19.500 €0,4 %

Still missing 2

Work the whole list →
  • Plan has 2 units, the deal says 24Per-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.
813 €
Notary, registry, SPV, tax advicefour figures on the plan8.700 €0,2 %363 €
Renovationper unit × the units, plus common areas, plus contingency128.000 €2,6 %5.333 €
FF&E and ITper unit × the units245.600 €5,1 %10.233 €
Permits, architect, designfigures on the plan70.000 €1,4 %2.917 €
The firm's feea share of the total, including itself96.981 €2,0 %4.041 €
Total project cost4.849.031 €100 %202.043 €

Deliberately outside this total

IVA fronted on works and fees123.648 €
Reclaimed, typically within 12 months. It changes when the money is needed, never what the building costs.