***Click HERE to watch the Webinar “Urbanitae up close – Nervión Project”, in which Francisco Domínguez from Kolac Capital, Jaime Bello from SharingCo and Luis Maura and Lucas Oriol from Urbanitae discuss the details of the project**

• Value-added project in the Nervión neighborhood, Seville

• Development of a complex of 44 tourist units in an asset with tertiary-lodging use

• Preferred IRR of 13% for Urbanitae investors.

• Ticket: €2,325,000 // Term: 30-34 months

We present a new project: Nervión Project, which consists of the acquisition of a tertiary use asset for its conversion into a complex of 44 tourist apartments for subsequent sale. The projected business plan contemplates the purchase of the asset, its interior demolition, transformation into 44 tourist units, operation through a management contract with an operator and subsequent sale to a property investor.

The asset is located in the Nervión district in the city of Seville, more specifically on Santa María Mazzarrello Street. It consists of two floors, (ground floor and first) with independent exit and a total area of about 2,045m2.

The Nervión district is one of the main neighborhoods in the city of Seville and has around 30,000 inhabitants. The asset is located within a consolidated residential area with excellent communications and proximity to the main urban and transport nodes, which favors a diversified demand base. It benefits from efficient access to the center of Seville (approx. 20–25 minutes), to the Santa Justa high-speed station (approx. 10 minutes) and to the Seville International Airport (approx. 15–20 minutes), as well as good connections with the rest of the metropolitan area. Among the nearby demand drivers are commercial, administrative, educational and health facilities, along with leisure and cultural attractions such as the Plaza de España and the María Luisa Park, which reinforces the long-term attractiveness of the location.

The asset was acquired by the Partner about a year ago and to date they have carried out the necessary procedures to be able to develop the proposed project. The asset will be contributed to a new company in which the partner and Urbanitae investors will participate 50% and where the license is being processed via responsible declaration. In unity of act with the purchase of the asset, i) a delegated promotion contract with the Manager will be signed, ii) a management contract with the Operator (SharingCo) for the management of the complex once it is finished and iii) bank financing aimed at covering development costs