Yeldo mezzanine bond issue for luxury project in Sardinia
Yeldo, a European group specialising in raising capital for institutional real estate transactions, has structured a mezzanine bond issue worth €12 million, aimed at the completion of a gated community comprising 42 high-end villas and a boutique hotel in the Gulf of Arzachena. The project, with a total value of approximately €50 million, includes the completion of 42 villas and a boutique hotel with 10 suites, a restaurant, lounge bar, beach club and spa.
“With this operation in Costa Smeralda, Yeldo takes another important step in consolidating its position in the luxury real estate market,” said Lorenzo Belloni, chief investment officer, Yeldo. “Sardinia is among the top four Italian regions in terms of demand for luxury homes from international buyers, and the real estate market is booming, as visitors are attracted by the island’s wonderful nature.”
The villas, overlooking the Maddalena archipelago and the Bay of Sardinia, all have sea views and range in size from 150 to 350 sq m, will have features including a private swimming pool, large covered terraces and direct access to the sea and the beach club, positioning the project in the highest segment of the market. All building permits have already been obtained.
The real estate assets are located on the north-eastern coast of Sardinia, a destination known for its clear sea and lively nightlife, which is easily reachable from Italy, Spain, France and Germany. These characteristics have encouraged the development of the Sardinian real estate market, especially in the luxury sector, as demonstrated by the fact that over half of the villas have already been sold to Italian and international customers. The asset is well connected to the main tourist resorts of the island, such as Porto Cervo, Porto Rotondo and the Maddalena Island, and easily reachable thanks to its proximity to the airport and the port of Olbia, in addition to the port of Golfo Aranci.
“At this time when traditional asset classes are being impacted by market volatility due to the complexity of the global economic and geopolitical context, we believe it is more important than ever to continue to offer investors deals characterised by the high quality of the underlying assets,” said Antonio Borgonovo, CEO and founder, Yeldo.
