Urbanitae Raises €1,315,000 in 50 Minutes for 236 Garages and 52 Storerooms in Albacete

06/10/2026 – ⏱ 3 min

875 investors cover the 10% loan in 50 minutes, although €550,000 of the €1,315,000 returns equity to the developer rather than financing works

This article is for informational purposes only and does not constitute investment advice or a recommendation of any kind.

Urbanitae has covered in 50 minutes a €1,315,000 senior loan to fit out 236 parking spaces and 52 storerooms on the ground floors of two buildings in the Imaginalia district of Albacete, with 875 investors, €26,300 per minute and an average ticket of €1,503. The contrast with recent operations is striking: closings on non-Spanish platforms in these days took between seven and eighteen days.

The loan is to Elite Capital Prime, S.L., at 10.0% simple annual interest over 18 months with two possible six-month extensions, and partial repayment from month 12. Full early repayment is subject to a minimum of eight months' interest: a contractual floor on remuneration, dependent on the borrower paying, not a guarantee of return.

What is worth knowing first is where the money goes. The loan includes a recapitalisation of equity: the developer bought the asset in July with €1,162,200 of its own funds and, after this operation, its capital in the project stands at €612,200. That €550,000 difference returns to its pocket with the investors' money. It is 41.8% of the amount raised, leaving some €765,000 for the works. The fact sheet discloses this but does not quantify the split or reflect it in the ratios it publishes.

The works are light: the structure was already built and only fitting out and subdividing the units remains, with an estimated two to four months. These are 5,996 sqm that will be divided into 118 spaces and 26 storerooms per building. But the building permit has not been granted: completion is expected in the first quarter of 2027 "following the obtaining of the permit before the end of the year", so the schedule hangs on an authorisation that does not yet exist.

And nothing has been sold or reserved. Marketing will start with the works, scheduled for December, and repayment depends entirely on placing the 288 units among local residents and buyers of the area's new developments.

On the ratios there is a clarification to make. The fact sheet reports a gross LTC of 62% and an LTV of 57%. The second adds up: at €379 per sqm, the 5,996 sqm are worth some €2,272,000 and the loan represents 57.9%. The first does not: 62% would imply a cost of around €2,121,000, whereas the €612,200 remaining to the developer plus the loan total €1,927,200, which would put the ratio at 68.2% and leaves a gap of some €194,000 that the file assigns to contingencies borne by the developer, without quantifying it. Neither the valuation amount nor the valuer is published, only the unit value of €379 per sqm against the €185 per sqm of the purchase.

The security package is, however, broad: a first-ranking mortgage with liability of 140% of principal, a 100% sweep of net sales cash, a corporate guarantee from the borrower and an irrevocable Equity Commitment Letter for cost overruns. Added to this is a pledge over the receivables of another of the developer's projects in Albacete, whose net cash flow the fact sheet "estimates" at some €1.2 million: security that depends on a separate project not evidenced here.

Elite Capital Prime, based in Albacete, reports more than 25 completed operations and over 30 years of aggregate experience in banking and real estate.

Investing in real estate crowdfunding carries the risk of losing part or all of your capital: the money is locked up until maturity, returns are not guaranteed and there is no deposit guarantee fund cover. No security eliminates that risk, and the speed of the raise does not anticipate how the operation will end. Non-sophisticated investors have four calendar days of reflection to revoke their offer without penalty.

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Realty Investor

Your real estate crowdfunding, in one app.

Discover new opportunities. Invest through leading platforms. Manage your whole property portfolio from a single place.

The Realty Investor beta is now available. Explore the market, discover new projects and get to know the platform with simulated money, without putting in any capital.

Download the beta and start discovering a new way to manage your real estate investments.