Boutique 16-unit alpine residential scheme adjacent to the Vallnord–Pal Arinsal ski lift — structured for fixed income plus equity upside.
The opportunity
La Massana Alpine Residences is a boutique development of 16 high-specification apartments positioned within walking distance of the Pal Arinsal gondola. The design pairs traditional Andorran stone and timber façades with a contemporary interior programme — oversized glazing, double-aspect living spaces, and a shared wellness suite with spa, sauna, and gym. Apartments range from two to four bedrooms and are designed to appeal to the growing segment of international residents relocating to Andorra on active residency permits.
Why invest
La Massana has seen double-digit annual growth in prime residential values as demand from international residents continues to outpace new supply. With only 4% of Andorran land buildable, ski-adjacent parcels at this scale rarely come to market. The land is already acquired at an attractive basis, planning permission is granted, and presales interest is strong — de-risking the project well ahead of construction start. Investors benefit from a fixed coupon through the build phase and share in meaningful upside on exit through unit sales.
Deal strengths
Capital deployment
Capital structure
Andbank — term sheet signed
Equity Partners skin-in-the-game
Timeline
Site acquisition
Q4 2024Planning permission granted
Q2 2025Investor financing open
Q4 2025Construction start
Q3 2026Structure complete
Q2 2027Unit handover & sales
Q2 2028Liquidity
Primary exit is individual unit sales during the final 12 months of construction and the 6 months following completion. A bulk portfolio sale to a family office or institutional buyer is retained as an alternative exit if pre-sales momentum warrants.
Risk disclosure
Documentation
Compliance & structure. Investment is made via an Andorran SPV with Equity Partners as asset manager. All foreign investment approvals, KYC, AML, and source-of-funds checks are handled by Equity Partners prior to capital call.