Maslow Capital Provides €30m Bridging Loan to Support Major Madrid Residential Transformation
The transformation of CC Ermita into a key part of Madrid’s residential landscape has taken a major step forward with the securing of funding for the area’s urban development. Alternative real estate finance provider Maslow Capital has provided a €30 million bridging loan to support the redevelopment of La Ermita del Santo Shopping Centre into a high-quality mixed-use residential project.
Given the complexities of transitioning the site from a commercial to a residential asset, requiring land-use licence changes and a significant shift in asset valuation, Maslow Capital structured a tailored funding solution to unlock the project’s potential. The financing will support demolition and urbanisation works, paving the way for full-scale development.
Once fully developed, this ambitious 67,928 sqm regeneration project, located on Paseo Ermita del Santo, will represent a significant milestone in revitalising the area. The former retail asset will be converted into a vibrant urban neighbourhood, delivering 400 private residential units and 150 price-controlled units—helping to address Madrid’s critical housing shortage. The scheme will comprise 40,800 sqm of private residential space, 15,990 sqm of affordable housing, and 3,075 sqm of commercial space, with extensive green areas and surrounding parks.
The project will be developed by SafSon and its partners, who have successfully delivered multiple residential projects across Spain.
Banco Sabadell’s Investment Banking division acted as both an introducer to Maslow Capital and an adviser to the borrower. Recognising the challenges posed by the asset’s transition, Banco Sabadell turned to Maslow Capital—an alternative finance provider known for structuring and funding complex residential transactions beyond the constraints of traditional banking regulations. Maslow’s expertise in underwriting and funding large-scale real estate projects ensured the transaction was successfully executed.
Gesvalt managed the complex valuations required for the financing, while Pérez-Llorca acted as legal counsel for Maslow Capital.
“We are delighted to be supporting this transformational project, which will bring much-needed housing to Madrid while revitalising an underutilised site. This transaction is a first-class example of how banks and alternative lenders can collaborate to deliver innovative funding solutions for clients. We would like to thank Banco Sabadell for their role in introducing this opportunity and advising the borrower throughout the process. Spain remains a key market for Maslow Capital, and we continue to offer tailored bridging and development finance solutions ranging from €300k to €750m, helping to bring ambitious projects like this to life.”Roger Ramos, Head of Origination (Spain) at Maslow Capital
“At Banco Sabadell, we are committed to supporting our clients. This project is a prime example of how collaboration between traditional banks and alternative lenders can generate significant value, ensuring that complex real estate transactions receive the tailored financial solutions they require. We are delighted to have worked alongside Maslow Capital and the borrower to bring this transformative scheme one step further, reinforcing our shared commitment to delivering high-quality developments in Spain.”Jenny Suárez, Real Estate Alternative Finance at Banco Sabadell Investment Banking
