Urbanitae Raises €2,920,000 in 35 Minutes for 68 Homes in Caleta de Fuste (Fuerteventura)

02/10/2026 – ⏱ 3 min

1,432 investors complete the first tranche at 11.75% of a loan committed at up to €12,215,000, in a development whose sales have not yet started

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

Urbanitae has gathered €2,920,000 in 35 minutes to finance part of the construction of 68 homes in Caleta de Fuste, in Antigua (Fuerteventura). The pace was €83,429 per minute, with 1,432 investors and an average ticket of €2,039.

What was raised is only the first tranche. The loan committed to Nordal Antigua, S.L. runs up to €12,215,000 across four tranches, with rates and terms falling to 11.00% and twelve months in the last one. This Tranche A is at 11.75% a year over 24 months, extendable by six, with interest and principal paid at maturity. The platform itself warns that its investors will contribute a maximum of €5,000,000 per year, so the full loan does not fit into a single financial year.

The building permit has been granted and the developer puts the works at around 40% complete, finishing in late 2027 for handover and repayment in early 2028. These are 68 one- to three-bedroom homes within a 121-unit development, on a 21,185 sqm plot with a pool and garage, eight kilometres from the airport.

One figure deserves a careful read: none of the 68 homes has been sold. Sales were scheduled to begin in October 2026, with Gilmar as the agency, and the platform calculates that selling some 39 would give the developer the liquidity to repay principal and interest. The precedent is Phase 1: 53 homes built in fourteen months and sold at around €304,000 on average, although the fact sheet puts that sales figure at 90% in one section and 100% in another.

The security package is broad: a first-ranking mortgage over the homes with mortgage liability of 140% of principal, pledges over the project accounts and the company's shares, a 100% sweep of net sales proceeds towards repayment, subordination of any additional financing and a ban on distributing money to shareholders while the loan is outstanding; drawdowns are released against certificates validated by a Project Monitor. What the file does not publish, despite mentioning a Tecnitasa valuation, is its amount or any coverage ratio: neither LTV nor LTC, in an operation committed at €12.2 million.

The developer's own capital deserves attention. The fact sheet puts it at some €5.9 million, of which only around €2.0 million is cash. The remaining €3.9 million consists of certificates for work carried out and not yet paid to the contractor, which belongs to the same group and holds a stake in the borrower, and which has agreed to wait for the sales. It is work done, not cash, although that payment ranks behind the investors.

If the developer repays early, it must pay a minimum of fifteen months' interest, 14.69%: a contractual floor on remuneration, dependent on the developer paying, not a guarantee of return.

Nordal Antigua is 50% owned by Alza Real Estate and Nordestada; Alza reports close to 40 years of activity and more than 8,000 homes delivered, and was the contractor on Phase 1.

Investing in real estate crowdfunding carries the risk of losing part or all of your capital: the money is locked up until maturity, returns are not guaranteed and there is no deposit guarantee fund cover. No security eliminates that risk, and the speed of the raise does not anticipate how the operation will end. Non-sophisticated investors have four calendar days of reflection to revoke their offer without penalty.

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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.