The manager of this project is REGEN Real Estate Regeneration, who has extensive experience in the development of real estate investment opportunities and construction projects, transforming undeveloped assets or existing buildings into new investment opportunities.

The group also coordinates the reuse of existing real estate assets by incorporating new content, new uses, and new functions through comprehensive architectural and constructive renovations. 

Urbanitae investors will enter the project through the granting of a committed mortgage loan in a single tranche. This Tranche has a fixed annual rate of 10.0% and a term of 12 months with a possible extension of 6 months in month 12. 

The exit of Urbanitae investors is expected to occur through the granting of the Developer Loan once the milestones required by the bank are reached: obtaining a license and reaching the sales threshold required by the bank. As of today, conversations with the bank for future project financing are very advanced.

STRUCTURE

This operation will be structured via debt, where Urbanitae Investors will grant a fixed-rate loan to the project's promoting company, PROMOCIONES INMOBILIARIAS BENASQUE, S.L.

The total amount of the gross loan amounts to 2,140,000 €, fully financed by Urbanitae investors. The total loan will be structured in a single tranche, whose main characteristics are the following (you can consult more information in the document "Fundamental Data of the Investment"):

• Total loan amount: up to a maximum of 2,140,000 €.

• Simple annual fixed interest rate of 10.0%.

• Term of 12 months + 6 months extension.

• Minimum interest period: 6 months.

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

 • Resulting leverage ratios: (i) LTC equivalent to 72% until our refinancing; (ii) LTV less than 36% on the current appraisal value of the underlying asset.

Total early repayment will be allowed at any time, subject to a minimum guaranteed return for the Loan equivalent to 6 months of interest. An additional 6-month extension is allowed at month 12.

Regarding the main guarantees of repayment of this loan, they are as follows: 

• First rank mortgage on the asset, with mortgage liability of 135% of the amount of the principal of the mortgage loan. The mortgage must be registered and free of any charges.

• First rank control garment without fund intervention on the project's bank accounts

• Pledge promise on the project contracts

WHY INVEST?

There are several reasons to invest in this project:

• Strategic asset and location, with a high-quality product in a highly demanded destination

• Solid LTV ratio, close to 35%, with a first rank mortgage on a high-value underlying asset 

• The profitability that the investor will obtain will be 10.0% per year. 

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 "Sales Witnesses" documentation, where you will find a list of houses for sale in the area.

WHEN WILL I RECOVER THE INVESTED MONEY?

The estimated term of this project is 12 months with a possible extension of 6 months in month 12.

• December 2025, granting of the Loan by Urbanitae investors and refinancing of the existing charge.

• Q1 2026, completion of the Basic Project and application for the building license.

• Q2 – Q3 2026, obtaining the building license.

• Q4 2026, meeting the milestones set by the bank for the granting of the developer loan and refinancing of the Urbanitae investors' loan.

RISKS

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

• Risk of deviations in license terms. This risk is mitigated by the promoter's experience in similar promotions and the interest of local authorities in carrying out the project. In any case, a few additional months of contingency have been included in case there is any delay.

• Commercial risk in the sale of the homes, causing a delay in the entry of the developer loan and therefore a delay in the repayment of the loan. To mitigate this risk, a commercial analysis of the promotion has been carried out by a reputable external provider that validates the price hypotheses and expected sales rates. 

• Risk of bank refinancing to complete the promotion. The promoter has extensive experience in the area and relationship with banking entities. A banking entity has been contacted that is already studying the project and has shown great interest in financing it. 

• Possibility of change of the agreed conditions. This risk includes potential substantial changes that occur 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.

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Warnings and Risks

Urbanitae Real Estate Platform (Urbanitae) does not hold the status of an investment services company, or 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 can in no case be considered as recommendations to investors.

The participatory financing 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 in the project investment area information 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.