Maslow Capital Provides €62.7 Million Facility to Propea La Sella for 131-Home Costa Blanca Development
Maslow Capital has provided a €62.7 million facility to Propea La Sella, a company backed by Valencian developer Blauverd, to finance the site acquisition and construction of 131 single-family homes within the Denia Marriott La Sella Golf Resort & Spa in Dénia, Alicante, Spain. The transaction was announced Sept. 8, 2026, with construction expected to begin in October 2026.
Deal Structure and Project Scope
The facility covers both land acquisition and construction costs for the residential community, which will have a total buildable area of approximately 22,800 square meters — roughly 245,400 square feet. Individual homes will average around 174 square meters, or approximately 1,873 square feet, and will feature terraces, solariums, private gardens and parking. Shared amenities across the development include swimming pools, gyms and landscaped grounds.
The project, also marketed as Dénia Golf Village and La Sella Golf Village, is located at Partida Alquería Ferrando in the Jesús Pobre area of Alicante, though it is commercially described as being in Dénia given that city's stronger international recognition. The site sits between Dénia and Jávea, near Montgó Natural Park, within an established resort setting anchored by the Marriott hotel and golf course. Marketing materials describe two-, three- and four-bedroom home types, with asking prices ranging from approximately €481,000 to €1.3 million.
At the facility's stated figures, the financing equates to approximately €479,000 per planned home and roughly €2,750 per buildable square meter. Those figures reflect financing intensity — encompassing both land and construction — rather than property values or construction costs in isolation.
Parties and Quotes
Francisco Conde, Director, Origination, Spain at Maslow Capital, commented on the transaction: "This transaction reflects Maslow Capital's ability to support experienced sponsors from site acquisition through construction. La Sella benefits from strong domestic and international demand, an established resort setting and the enduring appeal of the Costa Blanca. These fundamentals make it a compelling location for a high-quality residential development delivered by a developer with more than 40 years' experience."
Vicente Girbés, Director of Business Development at Blauverd, said: "Maslow Capital understood both the ambition of the project and the practical requirements involved in delivering it. Its support gives us the funding certainty to move forward with confidence and bring a high-quality residential community to this exceptional location."
Costa Blanca Market Context
The financing arrives as demand for coastal Alicante housing remains heavily international. Foreign buyers represented 51.5% of residential purchases in Alicante province as of a September 2026 market report, with demand concentrated among buyers from the Netherlands, the United Kingdom, Poland, Belgium and Germany. Dénia asking-price data for 2026 ranged from approximately €3,160 to €3,404 per square meter depending on the source and measurement period, while a broader Costa Blanca benchmark put asking prices at approximately €2,744 per square meter in July 2026. Limited buildable land in coastal and near-coastal locations continues to constrain new supply across the region.
The La Sella site's position within an existing resort — with established golf, hospitality and leisure infrastructure already in place — reduces the market risk typically associated with greenfield development, where amenities must be created from scratch alongside the residential product.
Maslow Capital's Expanding Spanish Portfolio
The Dénia transaction extends Maslow Capital's track record in Spain across the residential, logistics and hospitality sectors. Recent Spanish financings by the firm include a €44.2 million facility for an 88-home development in Marbella; a €40 million facility provided to Dunas Capital Real Estate for Alma Meco, one of Spain's largest logistics projects, covering more than 1.6 million square meters of land with close to 1 million square meters of buildable capacity; and financing for Selecto's first hotel portfolio, backed by Tikehau Capital and Quest Capital, with a gross development value exceeding €200 million.
The La Sella facility represents the firm's continued push into Spain's residential development finance market, particularly in coastal locations where international second-home demand remains a primary driver of new construction activity.