Campaign Closing Report | Urbanitae Completes the €1,560,000 Tranche B Raise for 10 Homes in the Old Town of Estepona (Málaga)

17/09/2026 – ⏱ 3 min

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

Urbanitae has issued the closing report for the round covering Tranche B of the loan financing a development of 10 multi-family homes in the old town of Estepona (Málaga). The campaign closed with €1,560,000 raised, the full amount of the tranche. It should be remembered that any reference to return is inseparable from the corresponding risk, which is set out below.

The raise was completed in 30 seconds, equivalent to an average pace of €3,120,000 per minute.

Investor base metrics and capital distribution

The operation recorded the participation of 837 investors, with an average ticket of €1,864.

Tranche B was agreed at a simple fixed annual rate of 11.25% over a 22-month term, with a minimum interest period of 18 months; this reference is subject to investment risk and is not guaranteed. Interest and principal are paid at maturity and accrue from formalisation. Full early repayment is permitted at any time, subject to a make-whole clause equivalent to 18 months of interest: this is an interest floor in the event of early repayment, not a guarantee of return or of capital protection. Non-sophisticated investors have a four-calendar-day pre-contractual reflection period to revoke their investment at no cost. The documentation is inconsistent on the term: it cites 22 months in one place and 18 in another.

Asset description, planning status and manager

The project groups five adjoining registered units to develop 10 homes over ground and three floors, with one- to three-bedroom layouts; five include a terrace pool and all have a parking space and storage room. The design retains the classic façade of the historic centre and it is the only new build being marketed in the city centre. The works licence, over the plot resulting from the grouping, was obtained in September 2026.

Marketing began in July 2025 and five of the ten homes are reserved — reservations, not completed sales. Target total sales value is €8.6 million, and the documentation states that the proceeds from those five units would suffice to repay principal and interest. The schedule puts the start of works in October 2026, completion in the first quarter of 2028 and delivery and repayment in the second.

The manager is ARG Promociones, a developer-builder operating since 1982 with more than 50 professionals, on its second project on the platform after Privilege. It has committed some €540,000 of its own capital and will contribute a further €687,000 progressively alongside the loan.

Capital structure, coverage ratios and security

The gross loan totals €2,600,000 across two tranches: Tranche A, of €1,040,000, formalised in July 2025 for part of the land acquisition, and this Tranche B, of €1,560,000, for construction and general costs. Tranche A was signed for 18 months with an 18-month extension conditional on five pre-sales and the works licence; both milestones having been met, it will run to July 2027. The construction portion is drawn against monthly works certificates subject to the favourable report of an independent Project Monitor.

The security package comprises a first-ranking mortgage over the plot with mortgage liability of 150% of the principal, a first-ranking pledge over the special purpose vehicle's shares, a pledge over its bank accounts without interference with funds, and a pledge over the collection rights of the The Oak and Villa Infinity projects backing the developer's additional capital commitment. None of these guarantees secures the recovery of capital.

This is a crowdfunding product, not a deposit or a guaranteed savings product. Urbanitae is neither an investment firm nor a credit institution and is not a member of any investment or deposit guarantee fund. The investment carries risks of illiquidity, of not obtaining the expected return and of total or partial loss of capital, as well as commercial, schedule and cost-overrun risks. The project is not authorised or supervised by the CNMV or the Bank of Spain, and the information provided by the manager has not been reviewed by them. The capital has neither the cover provided for in Directive 2014/49/EU nor that of Directive 97/9/EC. Investors may not recover the capital contributed.

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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.