The manager of this opportunity, QUADRATIA, is a company founded in 2005 whose management team has over 50 years of experience in the real estate development sector, having participated in the development of more than 7,500 homes throughout the country, with a particular focus on the Mediterranean coast and the international client segment.

In addition, Quadratia has extensive experience on the Costa del Sol, where it has successfully developed the first two phases of Isea Estepona, along with the complete urbanization of the Arroyo Enmedio sector (SURO-05), received by the City Council in November 2024. In total, phases I and II add up to 115 homes, of which 51 have already been sold in the first phase (94%) and 51 units in the second (84%), with delivery scheduled for 2026.

The company has a deep understanding of the residential market oriented towards the international client, as well as solid banking relationships in the area, which has allowed it to obtain financing for previous phases through Banco Santander.

The launch of the third phase consolidates Quadratia's presence in the Arroyo Enmedio area and continues a homogeneous residential masterplan, modern and highly valued by European buyers. The high level of commercial absorption of the previous phases, along with the fully urbanized environment and the quality of the product, reinforce the solidity and attractiveness of this new stage of the Isea Estepona project.

Isea Estepona Phase III will be the sixth promotion financed together with Quadratia through Urbanitae, after the projects Allonbay Aura, Allonbay Azure, Allonbay Alba and Allonbay Urban, located in the Allonbay area and in the center of Villajoyosa, respectively. These promotions are joined by Allonbay Hills, recently financed with Urbanitae, which is located very close to the Allonbay Village area.

The first five projects financed together with Quadratia are in the execution phase or upcoming delivery, while Allonbay Hills is in the pre-marketing phase and obtaining a license. All have maintained a very solid commercial pace, reflecting strong national and international demand in their respective locations. With Isea Estepona Phase III, Quadratia continues to offer a high-quality and high-demand product, this time on the Costa del Sol, with bright homes, attractive common areas and a positioning oriented towards the international buyer that characterizes the group in its coastal developments.

The architectural project of Isea Estepona Phase III consists of four residential blocks of ground floor two heights and attic designed to integrate harmoniously into the topography of the environment and to maximize brightness and partial sea views. In the common areas there will be a community pool, a gym, sauna, steam bath, children's games and landscaped areas, following the line of qualities and design consolidated in the previous phases of the Isea Estepona project.

The ground floor homes will have large terraces and private gardens, while the units located on the upper floors will enjoy outdoor spaces with an orientation optimized towards the sea and towards the green areas of the environment. The design of the four blocks prioritizes the opening of the main rooms towards the most favorable facade, enhancing the entry of natural light and the continuity between interior and exterior.

The roofs of the buildings have been allocated to facilities and technical areas, maintaining a clean and homogeneous aesthetic throughout the promotion. The complex offers a balance between functionality, efficiency and contemporary design, in line with the quality residential product that characterizes the development of Isea Estepona.

The project has a capital gains strategy, which consists of the alliance with the developer for the development of the project. The contributions of Urbanitae investors will be delivered to the developer via capital increase to the vehicle company that will gather all the contributions of Urbanitae investors in the project: ISEA ESTEPONA III PARTNERS, S.L. This company will later increase capital in the project's promoter company, ISEA ESTEPONA III, S.L.

The land is owned by Quadratia along with a partner. The investment of Urbanitae investors will be used to acquire the participation of this partner, facilitating his exit, as well as to cover the initial costs of the project until the formalization of the developer loan that will finance the execution of the work.

The Isea Estepona project has a favorable technical report for its Detail Study that will be approved shortly by the Estepona City Council and the building license is conservatively planned for the fourth quarter of 2026. Thanks to the fact that Phase III will follow the same design line, urban parameters and construction standards as the previous phases, Quadratia will take advantage of its experience in the first two phases to carry out this third one effectively and with quality assurance.

The marketing of the project started in mid-September and monetary reservations have already been formalized in 7 of the 79 homes that make up the promotion (c. 9%). The formalization of the purchase contracts will take place after the granting of the developer loan and in parallel with the start of the execution of the work, scheduled for the fourth quarter of 2026.

STRUCTURE

The operation will be structured via a capital increase, where both the manager and the investors of Urbanitae will make a capital contribution to the company promoting the operation. This promoting company plans to seek bank financing for the development of the project.

The manager will be dedicated to the comprehensive management of the promotion and will contribute 15% of the total capital of the investment.

WHY INVEST?

There are several reasons to invest in this project: 

• The project has cash reserves in 7 of the 79 homes that make up the promotion (c. 9%).

• The project will be managed by QUADRATIA, a company founded in 2005 whose management team has more than 50 years of experience in the real estate development sector, in which it has participated in the development of more than 7,500 homes, with a special focus on the Mediterranean coast and the international client segment.

• QUADRATIA is developing more than 115 homes in the Arroyo Enmedio sector (SURO-05), distributed in the two previous phases of Isea Estepona of which 51 are already sold in the first phase (94%) and 51 units in the second (84%), with delivery scheduled for 2026.

• This is the sixth project financed by QUADRATIA through Urbanitae, after the Allonbay Aura, Allonbay Azure, Allonbay Alba, Allonbay Urban and Allonbay Hills promotions, which are marketed at 100%, 90%, 82%, 48% and 48% respectively, the first 4 with work in progress and with the first delivery of Allonbay Aura for the end of the year.

• The project manager invests his own capital, which aligns the interests of all the agents participating in the investment.

ECONOMIC SCENARIOS

According to the criteria of the CNMV, in addition to the base (favorable) scenario proposed by the manager and which we contrast from Urbanitae, in Equity projects 2 additional scenarios must be published that show potential variations in the business plan.

1. FAVORABLE

The base, or favorable, scenario contemplates the income and expense estimates proposed by the manager, verified by Urbanitae, and contrasted by the Savills valuation report. In this project, the total revenue forecast amounts to €38,100,277, while the estimate of the total costs for the execution of the promotion corresponds to €32,894,884.

2. MODERATE

The moderate scenario contemplates an upward deviation of the construction costs estimated by the manager. In this project, an increase in construction costs equivalent to 20% has been considered, which raises the amount of total costs to €35,328,311.

3. UNFAVORABLE

The unfavorable scenario contemplates an increase in construction costs and a decrease in sales prices wide enough to obtain a negative result, with partial loss of the contributed capital. In this project, an increase in construction costs corresponding to 20% and a reduction in sales prices equivalent to 10% has been considered, which would mean a total revenue figure of €34,290,249 and total costs of €34,404,323 (reduced compared to the moderate scenario as the payment of Corporate Tax is avoided by incurring losses).

According to the supervisor's criteria, crowdfunding platforms should not communicate the estimated profitability in an equity project. The total profitability of a project is the REVENUE FORECAST minus the COST ESTIMATE, divided by the TOTAL EQUITY. As an example, in the FAVORABLE scenario, the calculation would be REVENUE FORECAST (€38,100,277) minus EXPENSE FORECAST (€32,894,884) divided by the total equity (€9,000,000). The result of this quotient multiplied by 100 will represent the profitability percentage on the contributed capital of this scenario.

The forecasts are mere estimates, and are subject to variations that could arise from the economic, social or other situation throughout the duration of the project.

MARKET

A market study has been carried out to determine if the sales prices proposed by the manager are reasonable. The manager has experience in the development of similar promotions in the environment, having promoted two plots in the same sector, which add up to more than 115 homes. In addition, the commercial appeal of the project has been tested, with 7 reservations (c. 9% of the promotion) having been formalized.

There is information available about the market within the "Sales Witnesses" documentation, where you will find a list of homes for sale in the area, and in the "Savills Commercial Report", where you will find a study carried out by the Savills consultancy.

WHEN WILL I RECOVER THE INVESTED MONEY?

The estimated term of this project is 36-40 months.

• Fourth quarter 2025, closing of the operation.

• Fourth quarter 2026, granting of the license and start of construction work.

• Third quarter 2028 - end of construction work.

• Fourth quarter 2028 – first quarter 2029, writing of the houses, liquidation of the company and distribution of profits to investors.

It is important to bear in mind that in all real estate development the deadlines can vary both upwards and downwards. 

RISKS

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

• Increase in the expected timelines of the project, due to delays in the formalization of pre-sales and obtaining the developer's mortgage loan.

• Increase in the expected timelines of the project, due to delays in the granting of the building license.

• Deviation of the associated fixed costs of the investment, unforeseen events in construction. 

• Delays in sales, and/or the need to lower their price to attract customers.

• Risk of the bank refusing to subrogate the developer's loan into a mortgage to some buyers, due to a situation of insolvency.

• Possibility of changing the agreed conditions. This risk includes potential substantial changes that take place from the start of the financing campaign until the formalization of the capital increase, in which case the project would be cancelled and the capital contributed by the investors would be returned.

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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 promoter 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 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. All this according to what is established in Article 69 of Law 5/2015 on Business Financing Promotion.

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 promoter 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, on the same terms and conditions as any other investor, without receiving any preferential treatment, nor privileged access to information regarding 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 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.