MálagaRío is the first Zertum project in Málaga. It is a residential complex located in the Ciudad Jardín neighborhood, designed under the sustainability and design standards that inspire and govern Zertum projects.
Located in the historic neighbourhood of Ciudad Jardín in Málaga, it is conceived under the sustainability and design standards that govern every Zertum project. The development of MálagaRío will involve "urban surgery" on an area forgotten by the Málaga urban development despite all its extraordinary potential and possibilities.
MálagaRío will involve the social and economic revitalization of its surrounding area through the development of the residential complex for long-term leasing, which will also include an impressive commercial area and a large pedestrian square for public use.
|Start-up capital amount||
Fourth quarter of 2021
|First investment period||
1Q - 2Q 2022
Project capital gain
Cumulative return on equity (ROE):
|Property value||22.35 million€|
|Development cost||17.42 million€|
|Gross operating margin||4.93 million€|
|Gross margin on costs (%)||28,3%|
|Total equity interests||7.80 million€|
|Bank financing||9.70 million€|
|Loan-to-value ratio (LTV)||43.39 %|
|Leasing incomes||1.13 million€|
|Leasing costs||0.24 million€|
|Net operating income (NOI)||0.89 million€|
|Gross profitability on costs||5.14%|
Intended purposes and areas
The building has been designed with the purpose of optimizing the distribution of the dwellings and making the most out of their usable spaces, without losing sight of the design and innovation standards that Zertum applies to each project. In addition, the residential complex will have the BREEAM certificate that guarantees a sustainable and environmentally friendly construction.
MálagaRío has 50 dwellings distributed on 11 floors that will rise above the commercial premises located on the ground floor, whose total surface will be of 3,000 m². This area will be used as a supermarket. There will be also two basements intended as a parking area, one for the dwellings and the other one for the supermarket.
The residential complex has a wide range of complementary uses and services designed to guarantee the best experience for the tenants (co-working area, gym, green areas, swimming pool, calisthenics area and paddle tennis court).
|Parking area||66||1,980 m²|
|Storage room area||25||175 m²|
|Other areas||10||8,942 m²|
|Dwellings / Nº bathrooms||Units|
|1 bedroom/ no bathroom||15 / 1|
|2 bedrooms/ no bathrooms||31 / 2|
|3 bedrooms / no bathrooms||5 / 3|
|Parking area and storage rooms||Units|
|Gardens and swimming pool|
|Aprobación inicial||En curso||Aprobación definitiva|
The project is located in the neighborhood of Ciudad Jardín, a fully consolidated historical area of the city of Málaga with excellent connections:
- 1 km from the access to the Mediterranean motorway
- 1.6 km from La Rosaleda football stadium
- 2 km from the Music school
- 2.1 km from Hospital Materno-Infantil
- 2.5 km from the city centre
- 3.5 km from the Hospital Regional Universitario
- 3.5 from the La Malagueta beach
- 3.6 km from the marina
- 4 km from María Zambrano’s intermodal station
- 10 km from Málaga – Costa del Sol airport
SECOND INVESTMENT PERIOD
paid-up from a total amount of 7.80 million
until 26th May 2023