Node closes €30million spanish urban portfolio refinancing with DRC SIM

19 October 2022


Urban living owner and asset manager Node has closed a €30m refinancing and capex facility with DRC Savills Investment Management (“DRC SIM”) on its Spanish portfolio of urban residential rental assets and ancillary retail. The deal was arranged by Westfort Advisors.

Node is pioneering the concept of ‘curated living’, a next generation, high density, flexible urban rental community that offers efficiently designed furnished accommodation for an all inclusive price with utilities and wifi included.

The portfolio includes more than 300 beds, set within beautiful, historic residential buildings located across city centre locations. Node will continue to operate and further enhance the product; delivering design-led, fully furnished and high tech apartments, with outstanding communal amenities, including residents lounges, roof terraces and coworking spaces. Node’s Design Studio has partnered with award winning firm DesignAgency on the concept and interior design.

Consistent with the Node brand, these luxury amenities are focussed on relaxation and well-being and are managed by a curator, who also manages all landlord issues, residents’ events and helps to create a community. 

This portfolio represents Node’s boutique offering in Spain; Node currently has a pipeline in excess of 7,000 beds across Europe, which includes more than 3,000 units in Spain in Madrid, Barcelona and Bilbao with larger-scale development assets opening from 2024.

Esteve Almirall, Partner and Head of Iberia at Node said:

“We are delighted to close this financing with DRC SIM, who has been a flexible and reliable partner even through times of uncertainty,”

Mark Gibbard, Principal at DRC SIM, commented:

“The team is thrilled to have supported Node as they grow their footprint of assets across Spain. This deal underlines DRC SIM’s ability and commitment to deploy our debt strategies into strongly performing real estate assets with experienced Sponsorship, such as Node”.

Anil Khera, Founder & CEO of Node said:

“We are excited to continue our long standing relationship with DRC and its founding partners, as we prepare for our next chapter of growth in Spain and beyond.” said Anil Khera, Founder & CEO of Node. 

Richard Herring, Co-Founder of Westfort Advisors, noted: 

“Given prevailing challenges in the capital markets, the successful closing was testament to the attractiveness of the financing terms, the quality of the portfolio and the exceptional motivation and pragmatism demonstrated by all parties”.


Node received Spanish legal advice from Garrigues and hedging advice from Auxilium Finance, whilst DRC SIM were advised by Cuatrecasas.


Citigate Dewe Rogerson

Alex Hogan

+44 (0)20 7025 6400