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**Click HERE to watch again the Webinar “Urbanitae up close – Boezio Project”, where Sergio Arana, Managing Director of Urbanitae and Carlo Pasquale, Director of Italy at Urbanitae explain all the details of the project**

Project Via Boezio | Pavia

• Debt project in Pavia, Italy

• Ticket limited to 10,000 €

• Amount Tranche: 800,000€ // Term: 12 months

• 12% Simple annual interest

• 12% Total profitability

• Loan guarantees

     1. Pledge of the shares of the SPV owning the asset

     2. Pledge of the bank accounts of the SPV owning the asset

     3. Sale Mandate on the asset 

We are pleased to present our second project in Italy which consists of the granting of a junior loan to finance part of the rehabilitation of a building in the historic center of Pavia, a city located 35 kilometers from Milan. 

The building is distributed on a ground floor plus two floors in height and a basement floor for storage. It has 12 homes with 1 to 4 bedrooms, adapting to all types of demand, some of which have balconies or terraces. 

The project has a granted building license and works started with expectations of completion in the fourth quarter of 2026. The project has a bank loan to finance the rest of the construction costs, therefore, we would enter subordinate to the bank debt. In addition, the project already has 5 of the 12 homes sold. 

The project is located in the historic center of Pavia, on Via San Severino Boezio. Pavia is a historic city in northern Italy, located in the Lombardy region, just 35 km south of Milan. With around 70,000 inhabitants, it is a medieval city with an important university center. Recognized for its academic excellence, its leadership in the health sector and its rich cultural heritage, Pavia offers a high quality of life while benefiting from its proximity to Milan. With more than 20,000 university students, two reference hospitals and an international perspective, the city is especially attractive for residential real estate investment, both for long-term housing and for the rental market.

The asset is located 2 minutes walk to the University Degli Studi di Pavia and 20 minutes walk to the Policlinico San Matteo hospital, one of the most important in the region. In addition, being in the historic center of the city, it is close to all kinds of leisure services such as restaurants, bars, shops and historical monuments. 

Generally, the withholding to be applied at source, in accordance with Italian regulations, is 26% on the interests that will be paid by DPM EUROPA, S.R.L (borrowing entity resident in Italy.

As an exception to the above, reduced rates may be applicable according to Italian domestic law and/or international double taxation treaties. For this, it will be necessary for the investor to accredit us with their tax residence through the corresponding certificate.

Specifically, in the particular case of investors who are tax residents in Spain, the certificate must be issued in accordance with the Convention to avoid Double International Taxation between Spain and Italy (article 11), the withholding is limited to 12% provided that:

The effective beneficiary of the interests is a tax resident in Spain, and

This residence is accredited by a certificate issued by the Spanish Tax Agency (model 01 or valid digital certificate) for the purposes of the aforementioned convention, covering the period in which the interest has been due.