The €850,000 (approximately £756,000) loan was secured over a luxury villa in Mallorca.
Fiduciam lent a total of €21m (approximately £19m) in Spain last year, despite only launching in the country in January 2018.
“During the course of 2018, we have set up our Spanish team in London,” said Clint White, head of property lending at Fiduciam.
“Our systems allow multi-currency and multi-jurisdiction loans which makes it possible for us to enter new markets.”
The institutionally-funded lender grants loans in Spain from €400,000-€25m (approximately £356,000-£22m) with rates starting from 0.8% per month.
It currently has nine loan applications in an advanced stage in its Spanish pipeline, with application and legal fees paid, all due to close in January and February for a total amount of €12m (approximately £11m).
- B&C roundtable: surviving a heated bridging market and the rise of regional lending
- Fiduciam provides bridging loan against French real estate portfolio
- Fiduciam cuts bridging rates
Spanish loan applications are often brought to Fiduciam through international brokers, however, this latest loan came directly from a Mallorca-based intermediary.
“This was a typical case of a foreign high-net-worth individual who needed to extract some liquidity from an investment property which is being marketed for sale,” said Cristina Villén, originator and case manager at Fiduciam.
“The principal has developed a property trading business in Mallorca and remains an important private equity investor in his country of origin.”
Clint added: “Demand for both bridging and development loans is soaring, so it is a realistic expectation to [almost] double our lending in Spain in 2019.”
As well as Spain, Fiduciam also provides loans in the UK, Netherlands and France.