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Cortijo Merino Project | Málaga

• Debt project in Málaga

• Amount: €2,700,000 // Term: 28 months

• 12% Simple annual interest

• 28% Total profitability 

• Loan guarantees

1. First rank pledge on the Borrower's social shares 

2. First rank pledge, without fund intervention, on the Borrower's bank accounts 

3. First rank pledge on the economic rights derived from future dividends reported by a second promotion, currently under development 

4. Joint corporate personal guarantee granted by the group's parent company

5. First rank pledge on collection rights derived from recapitalizations of own funds from the developer loan

We present a new project that consists of the granting of a subordinated loan (Junior Loan) intended to finance the outstanding urbanization costs and part of the general costs for the development of a promotion of 165 multifamily homes with garages and storage rooms, located in the Cortijo Merino sector, Málaga.

This is the Phase II of the Bulevar 360 Project, in which Urbanitae together with other co-investors, respectively granted in August and September 2024 a bridge loan for (i) the refinancing of a mortgage charge on the land, (ii) the development of urbanization works and (iii) general costs derived from the project development on plan until obtaining the Building License and the entry of the developer loan.

As of today, all the milestones of Phase I of the Bulevar 360 Project have been met and the project has (i) building license granted to simultaneously carry out the building work with the urbanization work, (ii) the urbanization developed to a degree greater than 90% (certified), (iii) a pre-sale level of 54% (89 units reserved) and (iv) the operation approved by a first-level banking entity whose first provision will repay the bridge loan.

The project contemplates the development of 165 multifamily homes with parking spaces and storage room with around 17,000m2 of buildability including large terraces, swimming pools, green areas and playgrounds on a plot area of 7,722 m2. The homes will have between 1 and 4 bedrooms, equipped kitchen, garage and storage room.

The Cortijo Merino project is located in the Cortijo Merino sector, in Málaga. The Cortijo Merino sector is developed within the productive circle of the city of Málaga next to the University of Málaga, the Technological Park of Andalusia (PTA) and the main business parks of the city. It borders the urbanized Zeta and Teatinos districts, close to Málaga airport and the Palace of Fairs and Congresses.

Málaga is one of the main growth poles in southern Europe: a Mediterranean city with excellent international connectivity and a booming economy. It combines quality of life, technological talent, modern infrastructure and a dynamic business ecosystem that attracts investment, innovation and high-value tourism. A strategic location where tradition, technology and profitability converge.