The project manager is Proprietes & Co, a family real estate group founded and led by Miguel Espada, with over 20 years of experience in the sector. The company specializes in the development of high-end resorts and luxury residential complexes in southern Europe and the Caribbean, and has a highly qualified team both technically and commercially. 

Throughout its trajectory, the group has developed projects worth over 500 million euros (GDV) and currently has a pipeline exceeding 1.5 billion euros, reflecting its solid experience and execution capacity in large-scale projects.

The Rivage de Thau Project is the second project to be financed on the Platform with Proprietes & Co and, in addition, it represents the second debt operation of Urbanitae in France, which represents a significant milestone in the platform's geographical diversification and internationalization strategy. 

The project consists of the real estate development of 133 "Branded Residences" type apartments with 1 to 4 bedrooms, and 12 commercial premises on the ground floor, located in Marseillan, a coastal town in southern France. A location with great tourist and residential appeal.

The development is part of an exclusive residential complex on the seafront, developed under the concept of "Branded Residences" and will be managed by an internationally renowned hotel operator, combining private homes with high-end hospitality services and standards. 

The project for the 133 apartments currently has a valid building permit and a level of pre-marketing that represents 6% of the total expected revenue (8 units). It should be noted that, to date, only the pre-marketing phase has been initiated, and marketing will start once the asset acquisition is formalized, which allows us to anticipate high interest and a favorable reception, especially considering the limited supply in the area.

Urbanitae investors will enter the project through the granting of a loan in a single tranche to partially finance the acquisition of a residential land to develop 133 luxury apartments. 

The expected exit of the loan will be made through the priority assignment of income through notarial payment orders on the first disbursements committed by the buyers under the French VEFA system, which allows the purchase of homes off-plan through progressive payments as construction progresses and under a regulated framework. In addition, the additional marketing of three units will cover the total repayment of the principal and accrued interest during the 24-month term, providing clear visibility of the exit strategy.

STRUCTURE

This operation will be structured via debt, where Urbanitae Investors will grant a fixed-rate loan to the company PORT MARSEILLAN II SAS.

The total amount of the gross loan will amount to 5,000,000 €, to be financed in its entirety by Urbanitae investors. The total loan will be structured in a single tranche, whose main characteristics are as follows (you can consult more information in the document "Fundamental Data of the Investment"):

• Simple annual fixed interest rate of 13%

• Total annual return of 13%

• Loan term: 24 months 

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

Total early repayment will be allowed at any time, subject to a minimum interest return equivalent to 8 months of interest. 

The management and marketing fees of the project will be subordinated to the repayment of the principal and interest of the loan.

Regarding the main Guarantees of the loan, the following is established in the financing contract: 

• First rank mortgage on the plots where the project is developed

• Notarial personal guarantee from the manager for an amount of 1 million euros

• Priority assignment of income through irrevocable payment orders before a notary for 17% of sales under the French VEFA system, which allows the purchase of homes off-plan through progressive payments as construction progresses and under a regulated framework

• Guarantee structured as a Trust under French legislation, on the actions and collection rights of the Borrower 

• First demand guarantee on the parent company of the project manager

WHY INVEST?

There are several reasons to invest in this project:

• Privileged location on the south coast of France, in Marseillan, with an exclusive residential product under the concept of "Branded Residences", with all licenses granted and in force and associated with a globally recognized brand within a high-level tourist-residential complex.

• Consolidated local developer, with extensive experience in the development of luxury residential projects, second homes and similar "Branded Residences" products, which provides solidity and knowledge of the target market.

• High exit visibility, thanks to the anticipated fund calls with buyers and the priority allocation of income through irrevocable notarial payment orders. The additional marketing of 34 units will cover the total repayment of the principal and accrued interest over a 24-month period.

• First rank mortgage on the plots where the project is developed.

• Attractive risk-return ratio, with an annual return of 13% and a minimum return equivalent to 8 months of interest.

MARKET

A market study has been carried out to determine whether the selling prices proposed by the manager are reasonable. In turn, a commercial Due Diligence has been carried out by an external agent who has issued a favorable report corroborating the proposed prices. 

WHEN WILL I RECOVER THE INVESTED MONEY?

The estimated term of this project is 24 months 

• April 2026, granting of the loan from Urbanitae investors and acquisition of the land

• second quarter 2026, continuation of construction works and marketing of the homes

• first quarter 2028, completion of the works and delivery of the homes

• April 2028, repayment and refund of the Urbanitae loan

RISKS

All investments carry a risk. Below are the main risks identified for this project:

• Construction risk derived from possible delays in the work deadlines necessary to reach the earthmoving phase, from which the irrevocable notarial payment orders corresponding to 17% of the sale price are executed. This risk is mitigated thanks to the developer's experience in the development of luxury residential projects and the figure of the Project Monitor who will carry out a monthly follow-up of the progress of the works. 

• Commercial risk derived from a sales speed lower than expected, which could affect the loan repayment schedule. This risk is mitigated by the interest shown in the pre-marketing where 6% of sales revenue has already been reached, by the manager's experience in marketing similar products and the high demand for second homes on the south coast of France. The additional marketing of 34 units will cover the total repayment of the principal and accrued interest over a 24-month period.

• Possibility of change of 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 cancelled and the investment returned.

TAXATION

The taxation of Spanish investors for the profits obtained from their investment in France will be the same as that which would correspond to a project in Spain. 

For this, and in order to avoid over-taxation, it is essential that you provide us with the information we require at the time of loan repayment to make the corresponding withholding in France. 

Among these documents is the certificate of tax residence issued for the purposes of the double taxation agreement between the country of tax residence of the investor and France. 

DISCLAIMER: The specific tax circumstances of each Spanish investor are not considered, so in any case, each investor should consult with their tax advisor about the treatment of the income obtained.  

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Warnings and Risks

Urbanitae Real Estate Platform S.L. (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 an investment recommendation to potential 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 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 regard, 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's 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.