Pre-opening | Urbanitae opens Tranche 1 of equity, for €2,000,000, for the development of 240 homes in Albal (Valencia)

22/07/2026 – ⏱ 4 min

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

The crowdfunding platform Urbanitae is preparing a real estate investment opportunity in Albal (Valencia). The operation consists of the construction of 240 multifamily homes distributed across three towers, with one- to three-bedroom layouts, managed by a company of the ConfortHogar group. Investors should keep in mind that any reference to return is inseparable from the corresponding risk, which is described below.

Structure of the Operation and Terms for the Investor

The operation is structured through a capital increase: the contributions of Urbanitae investors are channeled through a special-purpose vehicle that will subsequently increase capital in the developer company. In this first tranche, the developer and its partners contribute €900,000, Urbanitae investors €2,000,000 and other additional investors €1,600,000; in a second tranche, conditional on obtaining the building permit, a further €760,000 from the developer and €3,040,000 in additional investment would be added, up to a total equity of €8,300,000. A distribution structure has been established in which Tranche 1 Urbanitae investors have priority of collection until they recover their investment plus a 21.15% IRR return (net of Corporate Income Tax), while second-tranche investors would have a preferential return of 17.29% IRR; only after those returns are satisfied does the developer recover its capital and an equivalent return, with additional profits split 50% to the developer, 5% to capital structuring and the remainder according to each party's capital.

As this is an equity project, and in accordance with the CNMV criterion, no estimated profitability is communicated; the preferential returns indicated are subject to investment risk, are not guaranteed and might not be obtained. The estimated term of the project is 48 to 54 months. In compliance 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 and without justification.

Asset Description, Planning Situation and Sales Plan

The project contemplates 240 homes distributed across three independent towers, with all homes being outward-facing. The land is located in the municipality of Albal, in the l'Horta Sud region, less than 10 kilometers from the center of Valencia, with connections via the V-31 and the A-7, and with a new Renfe station under development about 400 meters from the project. Albal is part of a metropolitan area exceeding 129,000 residents together with Catarroja, Silla and Alfafar.

The planning situation should be highlighted: the permit will be applied for in the coming months, but obtaining it first requires the approval of the Partial Modification of the General Plan of Albal, and the platform estimates a period of 18 months to obtain it. The planned timeline places the capital increase and administrative procedures in the third quarter of 2026, the start of marketing in the fourth quarter of 2026, the granting of the permit and the second-tranche capital increase in the fourth quarter of 2027, the end of construction in the first quarter of 2030 and the delivery of homes and distribution of profits in the fourth quarter of 2030. An estimated sales pace of 8 units per month over 30 months is expected until all 240 homes are sold. On the financial side, the project contemplates senior bank financing of approximately €35 million, including amounts paid on account by clients, currently under negotiation with two institutions.

Economic Scenarios

In accordance with the CNMV criterion, in addition to the base (favorable) scenario proposed by the manager, in equity projects two additional scenarios are published showing potential variations in the business plan. In the favorable scenario, the forecast of total income amounts to €55,826,416 against estimated total costs of €47,285,862, on a total equity of €8,300,000. The moderate scenario contemplates a 5% increase in above-ground construction costs and a 5% drop in sale prices, with income of €53,184,682 and costs of €48,221,939. The unfavorable scenario contemplates a 10% cost increase and a 17% price reduction, with income of €46,580,346 and costs of €47,681,409, which would result in a negative outcome with partial loss of the contributed capital. The platform specifies that these scenarios reflect the project's costs without representing the Tranche 1 investor's premium. These forecasts are mere estimates and are subject to variations that may arise from the economic, social or other situation over the duration of the project.

Among the risks identified by the platform are increases in construction costs or raw material prices, administrative delay in obtaining the permit, commercial risk arising from a slower-than-expected sales pace for the 240 units, and the possibility of substantial changes occurring between the start of the funding campaign and the formalization of the capital increase, in which case the project would be cancelled and the contributed capital returned.

Finally, in compliance with the regulations governing crowdfunding platforms, investors are reminded that this is a participatory financing product and not a deposit or a guaranteed savings product, and that real estate investments carry specific risks, such as illiquidity, the risk of not obtaining the expected return, or the partial or total loss of the invested capital. This crowdfunding project is not supervised by the CNMV or the Bank of Spain, and the information provided has not been reviewed by these institutions. Likewise, the invested capital is not covered by the deposit guarantee fund or the investor compensation scheme.

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