The Promoter of this project is Habitares Ibérica, a leading national real estate and construction company. With over 20 years of experience in the real estate and construction sector, the company has consolidated a solid track record based on quality and efficiency and has developed all types of real estate projects from promotions of Officially Protected Housing (VPO), and social and sustainable residential projects to commercial assets such as the Navia Commercial Park itself.

Throughout its trajectory, Habitares Ibérica has managed and developed all phases of the construction process in an integral way, from land acquisition and management, urban design and planning, to technical management and execution of works. The company has an extensive portfolio of more than 2,500 homes built in different autonomous communities in Spain.

The Navia Project consists of granting a loan for the refinancing of a mortgage loan on a plot located in Vigo on which a medium-sized commercial park will be developed and the distribution of a dividend for the project manager. The park will be distributed in 11 medium-sized commercial premises, 1 electric vehicle charging station, photovoltaic panels and 470 parking spaces.

The Borrower has signed a private purchase and sale contract for the plot on which a medium-sized commercial park “Navia” is expected to be developed. The buying party will assume, once the Purchase and Sale Contract is executed, the risk of execution, financing, development and operation of the Park, disassociating the borrower from any responsibility.

The execution of the Purchase and Sale Contract is subject to a series of conditions precedent to be met by the borrower, which include the registration of the re-parceling, the approved urbanization project, obtained permits and licenses to build the asset and signed at least 6 lease contracts. 

Currently, there are two signed lease contracts that represent approximately 50% of the total leasable area, both with top-level food sector operators. Additionally, the promoter is in advanced talks with two other operators, with the aim of formalizing the contracts during this month.

The promoter has committed to date about € 2,500,000, intended to pay part of the land purchase costs and part of the general project costs. The loan from Urbanitae and co-investors will be up to € 5,200,000 and will be used to refinance the existing mortgage loan and distribute a dividend for the project manager.

Urbanitae investors and co-investors will enter the project through the granting of a loan in a single tranche. This tranche will have a fixed annual rate of 10.50%. 

The exit of investors will occur via the execution of the Purchase and Sale Contract formalized between borrower and buyer.

STRUCTURE

This operation will be structured via debt, where Urbanitae Investors and co-investors will grant a fixed-rate loan to the company GLOBAL FITNESS SPORT, S.L.

The total amount of the loan will amount to € 5,200,000 fully financed by Urbanitae investors and co-investors. The total loan will be structured in a single tranche, whose main characteristics are the following (more information in the document "Fundamental Data of the Investment"):

• Total loan amount: up to a maximum of € 5,200,000 committed by Urbanitae and co-investors, in a single tranche:

I. Single Tranche for an amount of € 5,200,000, of which € 5,000,000 will be financed by platform investors and € 200,000 will be financed by external co-investors of the platform. Both amounts will go towards the refinancing of the existing mortgage loan and the granting of a dividend for the project manager. This tranche will have a term of 15 months and an interest rate of 10.50% per annum.

• Loan Term: 15 months.

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

Total early repayment will be allowed at any time, subject to a minimum guaranteed return for the Single Tranche equivalent to 6 months of interest. An extension of an additional 6 months is allowed in month 15.

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

• First rank mortgage on the plot, -i.e., underlying asset of the financing- with mortgage liability of 150% of the principal amount of the debt. The mortgage must be registered in the Property Registry and the Plot must also be registered without any charges of any kind.

• First rank mortgage on the adjoining plot, with an area of 3,389 m² and use 51% commercial, 49% industrial. 

• First rank pledge on income from Purchase and Sale Contract.

• First rank pledge on the project contracts of the Park both the execution contracts and the operation contracts signed with the commercial operators (both those already signed at the date of signing of this Offer and any future ones that, where appropriate, replace them).

• First rank pledge on the bank accounts of GLOBAL FITNESS SPORT, S.L.

• First rank pledge on 100% of the social shares of GLOBAL FITNESS SPORT, S.L.

• First rank pledge on the right to credit for the return of VAT.

• Assignment to the Lender, in case of execution of the guarantees, of any contract or agreement with third parties related to the development or execution of the Project.

• Maintenance of the Guarantees during the life of the loan and impossibility of granting the same or better guarantees in favor of other creditors.

• Any additional corporate loan must be subordinated to our debt.

WHY INVEST?

There are several reasons to invest in this project:

• The underlying asset of the debt is a commercial park located in a strategic area of the city of Vigo, which has already signed lease contracts for 50% of the total leasable area, subscribed with top-level food sector operators.

•      The Manager has more than 20 years of experience in the real estate sector in which they have managed and built around 2,500 homes in Spain. 

• The return that the investor will get will be 10.50% per annum, with a minimum return equivalent to 6 months of interest (5.25%).

• The project has a first rank mortgage guarantee on the registered property where the project is developed, as well as the first rank mortgage guarantee on the adjoining plot. 

• The project will generate a net annual income of c. €1,700,000. 

MARKET

A market study has been carried out to determine if the sale prices proposed by the manager are reasonable.

There is information available about the market within the documentation "Sale Witnesses", where you will find a list of transacted commercial parks with their sale metrics.

WHEN WILL I RECOVER THE INVESTED MONEY?

The estimated term of this project is 15 months.

• Q4 2025, granting of the loan by Urbanitae investors to the promoter for the refinancing of the existing mortgage loan.

• Q1 – Q2 2026, Fulfillment of the conditions precedent for the execution of the Purchase and Sale contract.

• Q3 2026 – Q4 2026, Sale of the asset and repayment of the loan granted by Urbanitae investors. 

RISKS

All investments carry a risk. We detail the clearest risks we have identified for this project: 

• Delay in the sale of the commercial park that may cause delays in debt repayment.

• Risk of deviations in terms of licenses and urban planning procedures. This risk is mitigated by the advanced degree of compliance with all urban requirements, verified through a thorough technical Due Diligence. In any case, a few additional months of contingency have been included in case there is any delay.

• Commercial risk of not obtaining the contracts signed by required operators for the formalization of the purchase. This risk is mitigated by the conversations held with these operators, who have confirmed their interest in formalizing the contracts as soon as possible, as well as by the general commercial attractiveness of the commercial park, backed by the opinion of experts in this type of assets.  

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

---------------------------------------

Warnings and Risks

Urbanitae Real Estate Platform (Urbanitae) does not hold the status of an investment services company, nor a 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 in no case can it be considered as recommendations to 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 investment of the project, the term 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 received funds, 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.