Campaign Closing Report | Urbanitae completes a €1,955,000 raise in 25 seconds for Tranche B of the Alcalá 4 Golf villa in Nueva Andalucía (Marbella)

10/09/2026 – ⏱ 6 min

This article is for informational purposes only and does not, under any circumstances, constitute investment advice or a recommendation.

The crowdfunding platform Urbanitae has issued the closing report for the round corresponding to Tranche B of the mortgage loan financing the "Alcalá 4 Golf" villa, in the Nueva Andalucía development within the municipality of Marbella (Málaga). The transaction is structured as a fixed-rate loan granted to the company COGITARI ALCALÁ 4, S.L., secured by a first-rank mortgage, with the funds allocated to the continuation of the works. The subscription process concluded once the entire tranche had been allocated, with a final volume raised of €1,955,000. Investors should keep in mind that any reference to return is inseparable from the corresponding risk, which is described below.

The call started from a fundraising target of €1,955,000 and covered 100% of the allocation in 25 seconds from opening. The flow of contributions over that interval works out at an average of €4,692,751 per minute.

Metric Analysis of the Investor Base and Capital Distribution

The campaign concluded after recording the participation of 1,014 investors, who covered the full tranche assigned to the opportunity. Distributing the funds raised across that number of contributors gives an average ticket of €1,928 per participant.

Tranche B grants lenders a simple fixed annual interest rate of 10.0%; this reference return is subject to investment risk and is not guaranteed. The term is set at 12 months, with a possible extension of a further 6 months that may be activated in month 12. Interest and principal are paid at maturity, and interest begins to accrue from the formalisation of the loan agreement. Full early repayment is permitted at any time, subject to a minimum interest return equivalent to 12 months. In accordance with the European regulatory framework, non-experienced investors have a four-calendar-day pre-contractual reflection period during which they may revoke their commitment at no cost.

Description of the Underlying Asset, Planning Progress and Sponsor Profile

The asset is a detached single-family home laid out across four levels on a 1,458-square-meter plot, with a total built area of 1,468 square meters. The programme comprises 5 bedrooms, 6 bathrooms, an outdoor pool, underground parking and a garden, with views over the golf course and the mountains; the basement level includes a wine cellar, games room, gym and spa. The plot was acquired by the manager with its own funds and holds a building permit granted in November 2024. Works began in April 2025 and progress currently stands at around 42%, with part of the earthworks, the foundations and the below-ground structure completed.

The site is in Nueva Andalucía, a residential area of Marbella characterised by its natural setting, with connections to Málaga, Marbella and Puerto Banús. The house is surrounded by landscaped areas and natural vegetation, with views over the Real Club de Golf Las Brisas and three further golf courses less than five minutes away.

The project is managed by COGITARI HOMES, a real estate group with more than 10 years of experience in the design and development of residential projects on the Costa del Sol, founded by Lars Christensen, who has more than 30 years in the real estate sector in Denmark and on the Costa del Sol. The company reports more than 15 projects developed, with residential schemes in Marbella, Benahavís and Málaga. "Alcalá 4 Golf" is the fifth project the manager has financed through Urbanitae, after Villa Alcalá, Gate 3, Pinares de San Antón and Hills 14.

Capital Structure, Risk Indicators and Real Collateral

The total gross loan amounts to up to €5,100,000, of which Urbanitae investors contribute up to €5,000,000, and it is arranged in three tranches. Tranche A, of up to €2,185,000, was formalised in September 2025 and was allocated to financing part of the construction and general costs. Tranche B, now closing, of up to €1,955,000, joins the existing debt and funds construction and general costs of €1,798,535 for the works over the next six months, plus €156,465 of structuring costs. A Tranche C of up to €960,000 remains pending, of which €860,000 will be raised among platform investors and €100,000 contributed by co-investors joining the existing debt. The developer commits total capital of approximately €2.8 million.

The security package includes a first-rank mortgage over the financed property, with mortgage liability of 150%; a private first-rank pledge agreement over the shares of the borrowing company; a private first-rank pledge agreement over the project's bank accounts; a sale mandate in favour of investors, activated in month 24 if no extension takes place, in month 36 in the event of extension, or upon any default under the loan; and an Equity Commitment Letter from the developer to secure additional equity contributions. The portion of the loan allocated to construction is drawn down against monthly works certificates, subject to a favourable report from a Project Monitor who reviews construction progress and any deviations in schedule and cost, and who approves each disbursement.

Investors will exit through the sale of the home, whose marketing is entrusted on an exclusive basis to a Costa del Sol estate agency and will begin once the works reach roughly 50% to 60% progress. The expected calendar places completion of the works, the sale of the villa and repayment of the loan in the third or fourth quarter of 2027. The documentation identifies as the main risks the commercial one, from a possible delay in selling the asset — mitigated, according to the platform, by the estate agent's involvement and by the favourable commercial due diligence report validating the price set in the business plan; schedule deviation risk, covered by the supervision of a Project Manager; cost deviation risk, where any overruns must be funded by the developer's own resources; and the possibility that a substantial change in conditions between the start of the campaign and the formalisation of the agreement forces the project to be cancelled and the investment returned.

Finally, in compliance with the regulations governing crowdfunding service providers, investors are reminded that this is a crowdfunding product and not a deposit or a guaranteed savings product. Urbanitae is neither an investment services firm nor a credit institution and is not a member of any investment or deposit guarantee fund. Real estate credit transactions carry risks of illiquidity, of not obtaining the expected return and of total or partial loss of principal; this vehicle is not supervised by the CNMV or the Bank of Spain, and lacks the coverage of the deposit guarantee scheme provided for in Directive 2014/49/EU and of the investor compensation scheme provided for in Directive 97/9/EC. Investors may not recover the capital contributed.

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