Pre-opening | Urbanitae opens Tranche A of €2,430,000 at 11% to finance the construction of 31 terraced homes in Llers (Girona)

14/07/2026 – ⏱ 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 Llers (Girona). The operation consists of granting a loan intended to partially finance the construction costs and general costs of a development of 31 terraced homes, managed by Caliza Homes. Investors should keep in mind that any reference to return is inseparable from the corresponding risk, which is described below.

Financial Terms of the Operation

The operation is structured via debt: Urbanitae investors grant a fixed-rate loan to the company ANYWAY INVESTMENTS, S.L. The total gross loan amounts to a maximum of €6,200,000, committed in three tranches contributed entirely by the platform's investors: Tranche A for €2,430,000, Tranche B for €1,800,000 and Tranche C for €1,970,000. This call corresponds to Tranche A, with a fixed simple annual interest rate of 11.0% and a term of 27 months, with an option to extend by an additional 6 months at month 27 (27+6); this return is subject to investment risk and is not guaranteed. Interest and principal are paid at maturity (bullet), accruing from the formalization of the contract, and early repayment is allowed, total or partial, subject to the payment of minimum interest of 16 months for Tranche A (14.67%). Drawdowns for construction costs will be made monthly against works certifications, subject to the review and validation of an external Project Monitor appointed by Urbanitae, with the exception of the payment to the contractor executing the prefabricated structure.

Asset Description, Construction System and Commercial Traction

The asset is a 5,949 m² residential plot, with a granted building permit, on which 31 terraced homes will be built across 6 blocks, with landscaped areas and a pool, for a total of 4,177 m² built. The homes will have three or four bedrooms, three bathrooms, a private patio and outdoor parking, with a built area of 135 m² per home over two above-ground floors. The asset is located in Els Hostalets, in the municipality of Llers (Alt Empordà), about 10 minutes from Figueres, with the French border about 15 minutes away, the coast 25 and the Girona-Costa Brava airport 35 minutes away by car.

The structure will be executed through prefabricated concrete construction, by a construction company with more than 50 years of experience in industrialized construction. The manufacture of the structure has an expected term of 4 months, followed by 2 to 3 additional months of on-site assembly, organized in two phases: the first for two thirds of the homes and the second for the remaining third. Simultaneously, earthworks, foundations and drainage works will begin. The overall estimated term until completion of the works is 22 to 24 months. As of publication, the project has 5 reservations, 16% of the total, and the platform indicates a list of more than 50 additional interested parties. Marketing will be carried out through a local agent in collaboration with the manager, and the investors' exit will occur through the proceeds from the sale of the homes.

Capital Structure, Collateral and Manager

The manager has disbursed to date approximately €1.3M of equity, allocated to the land acquisition and to the general costs of project definition and permits, and commits to contribute an additional €1.47M to cover the pending construction and general costs, in line with the established milestones. The collateral package includes a first-rank mortgage over the financed asset, with a mortgage liability of 140% of the principal; a first-rank pledge over the project's bank accounts; a first-rank pledge over the shares of the borrowing company; a first-rank mortgage over a second development located in L'Ametlla del Vallès as additional collateral; an Equity Commitment Letter from the developer to cover contingencies and cost overruns; and a 100% cash-sweep of the proceeds from the sale of the homes allocated to repaying the loan. To secure the funds disbursed for the manufacture of the structure, the contractor will issue in favor of the developer a first-demand guarantee through a bank. The manager is Caliza Homes, a real estate group based in Barcelona whose partners have more than 20 years of experience and more than 140 residential units developed through its brands Caliza Homes and Loess Homes Club.

In compliance with the European Crowdfunding Regulation (EU) 2020/1503, it is recalled that non-experienced investors have a four-calendar-day pre-contractual reflection period during which they may revoke their investment offer at no cost and without justification. It is also warned that this is a participatory financing product —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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