Pre-opening | Urbanitae finances 65 storage units in Prosperidad and five apartments in Alcorcón with €1,105,000

16/10/2026 – ⏱ 3 min

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

Urbanitae is preparing a €1,105,000 loan for a developer to buy two commercial premises and convert them into 65 storage units in Madrid's Prosperidad neighbourhood and five apartments in Alcorcón. The borrower is SPV Torres 02, set up solely for this transaction.

The term is 18 months plus a possible six-month extension, with a fixed rate of 11% per year and interest paid at maturity; that estimate is subject to the investment risk and is not guaranteed. The developer may cancel early by paying 18 months of interest: a contractual floor that depends on the developer paying, not a guaranteed return. Urbanitae may go ahead with the project once 90% of the target is covered and extend the fundraising by 25%. There is no opening date, minimum investment or rating.

Asset description, construction progress and sales traction

The premises at Calle Matilde Díez 14, next to the Prosperidad metro station, will house 65 storage units, ten of them already reserved; its licence is processed through a Declaración Responsable, so works can begin when the financing is signed. The premises at Tablas de Daimiel 3, in Alcorcón, will become five apartments: the change of use to tertiary has been approved and the licence is being processed, which the developer estimates will take a month and a half. Neither of the two properties belongs to the developer yet: in both cases there is only a deposit contract (arras), and the loan finances the purchase and part of the works.

The planned works last about 16 months and the whole project 18 “including the sales process”: that leaves two months to sell 65 storage units and five apartments before maturity. The timetable puts even more strain on those dates: loan and purchase in the fourth quarter of 2026, completion of works and repayment in the first quarter of 2028, little more than a year. Moreover, the exit is described only as “once the storage units are sold”, with no mention of the apartments, which are “five apartments” in one paragraph and “five tourist apartments” in another.

Financial structure, coverage ratios and security

The security consists of two mortgage promises over the properties and the pledge of the SPV's shares. A mortgage promise is not a mortgage: until the properties are bought and the mortgage is granted, there is no registered security. Nor is the fact sheet consistent on the rank: the security section simply says “mortgage promise” and the reasons-to-invest section raises it to “first-ranking”.

What is not published weighs just as much: there is no valuation of either asset, no LTV, no total cost and no figure for the developer's own funds, which the fact sheet merely mentions. The manager has worked with the platform 22 times and has repaid 15 projects; nothing is said about the remaining seven. This is the second transaction in this series that we have covered: in June, SPV Torres 01 raised €725,000 for 66 storage units and two apartments on Paseo de los Olivos, also at 11% and over 18 months, with the same mortgage-promise structure. This one is 52% larger.

Non-sophisticated investors have a four-calendar-day pre-contractual reflection period to revoke their offer without penalty. This is crowdfunding, not a deposit or a guaranteed savings product: it carries a risk of illiquidity and of total or partial loss of principal, it is not supervised by the CNMV or the Bank of Spain and it is not covered by Directives 2014/49/EU and 97/9/EC. Investors may not recover the capital contributed.

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.