PROJECT DESCRIPTION

The manager of this project is SETHA, a real estate investment and development company specializing in the identification of unused industrial land ("brownfield") in the United Kingdom and Italy.

Its specialty is to increase the value of the land by obtaining planning permits, mainly for residential and mixed-use developments. The Setha team has many years of experience in the real estate market and has established an excellent track record in both the identification of these types of opportunities and the successful completion of projects.

It is currently developing 20 projects totaling more than 1,000 units, with a gross development value (GDV) exceeding 1,000 million pounds.

The asset is developed on a plot of 490 m² acquired by the project manager with own funds and a loan from a partner. The plot has a building license since August 2025.

Construction works will begin once we finance part of the acquisition by repaying the loan that the manager currently has with his partner and provide the company with liquidity for the rest of the project costs. 

The project promoter commits a total capital of 550,000 €. Urbanitae investors will enter the project through the granting of a committed loan in one tranche, to finance part of the construction costs and the general costs of the project. The tranche will have a fixed annual rate of 12% and a term of 18 months, with a possible extension of 6 months in the 18th month.

The exit of Urbanitae investors will occur through the sale of the house.

The marketing of the asset will be carried out by a local commercial agency with great experience in the area.

STRUCTURE

This operation will be structured via debt, where Urbanitae Investors will grant a fixed-rate loan to the company MAMA LT 3, S.R.L.

The total amount of the gross loan will amount to an amount of 1,220,000 €. The total loan will be structured in a single tranche, whose main characteristics are as follows (you can consult more information in the document "Fundamental Data of the Investment"):

• Total loan amount: up to a maximum of 1,220,000 €, committed in one tranche:

• Type of simple annual fixed interest of 12%.

• Loan term: 18 months + 6 months extension.

• Interest and principal of the loan will be paid at maturity (interest will begin to accrue from the moment of the formalization of the loan contract).

• The part of the loan intended to finance the construction works will be disposed of by the promoter through work certifications, subject to the favorable report issued by the Project Monitor.

• Total early repayment will be allowed at any time, subject to a minimum return of interest equivalent to 12 months of interest. 

Regarding the guarantees of the loan, the following is established in the financing contract: 

• Private contract of first rank pledge on the shares of the borrowing SPV.

• Private contract of first rank pledge on the bank accounts of the borrowing SPV.

• Sales mandate in favor of Urbanitae investors that will be activated in the 18th month in case of no extension, in the 24th month in case of extension or upon the materialization of any breach of the loan.

As in all debt projects, the figure of the Project Monitor is incorporated in this project, who will review the work certifications, the progress in construction, possible deviations in time / cost and who will also approve the monthly disbursements of the loan.

WHY INVEST?

There are several reasons to invest in this project:

• Guarantee on the SPV's shares and first rank pledge on bank accounts

• First Urbanitae project in Italy in one of the most exclusive coastal areas of Italy.

• The return will be 12% per annum, with a minimum return equivalent to 12 months of interest (12.00%).

• Manager's experience in similar real estate products in Italy and specifically in Forte dei Marmi. 

• Building license granted.

MARKET

A market study has been carried out to determine whether the selling prices proposed by the manager are reasonable. In turn, a commercial Due Diligence has been carried out by an external agent who has issued a favorable report corroborating the proposed prices. 

There is information available on the market within the "Sales Witnesses" documentation, where you will find a list of homes for sale in the area.

WHEN WILL I RECOVER THE INVESTED MONEY?

The estimated term of this project is 18 months with a possible extension of 6 months in month 18.

• November 2025, loan granted by Urbanitae investors to the developer to finance part of the acquisition, construction costs and general project costs.

• Third quarter 2026, completion of construction works.

• First quarter 2027 sale of the villa and repayment of the loan to Urbanitae.

RISKS

All investments carry a risk. Below are the main risks identified for this project:

• Commercial risk derived from a possible delay in the sale of the asset, which could cause delays in the repayment of the debt. This risk is mitigated by the participation of a leading real estate agent in the sector, as well as the backing of the favorable report issued during the commercial due diligence, which validates the selling price established in the Business Plan.

• Risk of deviations in the project deadlines due to possible unforeseen events during the construction phase. To mitigate this risk, the developer has the support of a Project Manager in charge of the rigorous supervision and control of the execution schedule ensuring the fulfillment of the established milestones. Likewise, it is an experienced manager in similar real estate products in Forte dei Marmi.

• Risk of deviations in construction costs derived from unforeseen contingencies.

• Possibility of change of the agreed conditions. This risk includes potential substantial changes that take place from the beginning of the financing campaign until the formalization of the loan contract, in which case the project would be canceled and the investment returned.

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Warnings and Risks

Urbanitae Real Estate Platform S.L. (Urbanitae) does not hold the status of investment services company, or credit institution and is not attached to any investment guarantee fund or deposit guarantee fund. The information published by Urbanitae Real Estate Platform on its Website is for informational purposes only and can in no case be considered as investment advice to potential investors.

The crowdfunding projects published by Urbanitae on its Website are not subject to authorization or supervision by the National Securities Market Commission or the Bank of Spain, therefore, all the information provided by the manager in relation to the projects has not been reviewed by them.

Urbanitae expressly informs that, in case of non-compliance with the total volume of the project investment, the deadline for fundraising may be exceeded by up to 25%, maintaining the same investment conditions. Likewise, the project may be financed by Urbanitae when at least 90 percent of the financing objective has been reached, once the participation in the project that the platform itself may have is discounted. 

Investing in the projects published on this Website may entail certain risks, such as, the risk of total or partial loss of the invested capital, of not obtaining the expected monetary return or of lack of liquidity. Therefore, we warn investors to only invest an amount they are willing to lose and we suggest they diversify their investments to minimize and mitigate potential risks. In the event that the manager is unable to return or remunerate the funds received, Urbanitae will not return the investors their investment made.

This project will be open to any investor registered in Urbanitae, and any of the following registered persons may invest in it:

• Urbanitae partners who own at least 20% of the share capital or voting rights;

• Managers or employees of Urbanitae;

• Individuals or legal entities linked to these partners, managers or employees by control.

In this sense, Urbanitae guarantees that the investments of any of these people will be made through the platform, under the same terms and conditions as any other investor, without receiving any preferential treatment, or privileged access to information compared to the rest of the investors registered in Urbanitae. In accordance with the Internal Code of Conduct of Urbanitae, these investors are obliged to internally communicate these operations.

Once the investment in the project is closed, Urbanitae will provide information in the project's investment area about the amount invested by these investors, the type of investor who has made the investment, and the percentage it represents with respect to the total financed, always complying with the data protection policy.