The project promoter is a family firm considered the reference promoter in the ultra-prime segment of Marbella, with over 40 years of specialized trajectory in the Costa del Sol.

Their business model is based on the selection of prime locations, extremely high-quality design and construction standards, and an exclusive focus on high-net-worth clients. The firm maintains a dominant market share in Sierra Blanca and manages the marketing of its projects through its own sales channels and a network of the leading agencies in the area, under an invitation-only marketing model.

The project promoter commits a total capital of c. € 3.7M, composed of € 4.45M of Day One equity already invested in the project, net of a recapitalization of € 750k that will be returned to the promoter through Tranche A of the Urbanitae loan. Urbanitae investors will enter the project through the granting of a committed loan in 3 tranches, intended to (i) refinance the existing capex loan, (ii) finance the outstanding construction and equipment costs and (iii) the partial recapitalization of the promoter. Tranche A will have a fixed annual rate of 10.50% and a term of 18 months with the option of two 6-month extensions (in months 18 and 24).

The exit of Urbanitae investors will occur through the sale of the villa, whose target price amounts to € 25 million. The marketing of the asset will be carried out through the promoter's direct sales channels and a selection of the five leading agencies in Marbella, under an exclusive invitation-only marketing model.

STRUCTURE

This operation will be structured via debt, where Urbanitae investors will grant a fixed-rate loan to the project's SPV.

The total amount of the gross loan amounts to 9,990,000 €, committed in three tranches, 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 9,990,000 €, committed in three tranches:

- A first tranche or Tranche A, for an amount of up to 7,340,000 €, of which (i) 2,340,000 € will be raised by Urbanitae investors and (ii) 5,000,000 € by external co-investors.

- A second tranche or Tranche B, for an amount of up to 1,310,000 €, raised by Urbanitae investors.

- A third tranche or Tranche C, for an amount of up to 1,340,000 €, raised by Urbanitae investors.

• Simple annual interest rates of 10.5% for Tranche A. The 2nd extension of the loan will imply an increase of +100 bps (+1.0%) in the rate, up to 11.50%, annually.

• Term of the Tranche A loan: 18 months with the option of two 6-month extensions (in month 18 and in month 24).

• 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).

• The part of the loan intended to finance construction works will be disposed of by the promoter through monthly work certifications, subject to the favorable report issued by the Project Monitor.

Total early repayment will be allowed at any time, subject to a minimum return of interest for Tranche A equivalent to 6 months of interest (make-whole), or until the request of the LPO by Responsible Declaration in case it occurs before the fulfillment of said minimum term.

Regarding the loan guarantees, the following is established in the financing contract:

• First rank real mortgage guarantee on the property subject to the financing, with Mortgage Responsibility of 130% of the principal of the loan.

• First rank pledge on the social shares of the SPV promoting the project

• First rank pledge on the bank accounts (without fund intervention) of the project in the borrowing SPV, including the project's VAT account.

• Equity Commitment Letter that guarantees the promoter's commitment to contribute additional capital to cover any cost overrun not contemplated in the business plan.

• Irrevocable sales mandate in favor of Urbanitae investors, activatable in the event of any non-payment, material breach or lack of full repayment of principal + interest on the agreed or extended maturity date. The minimum sales price will be equivalent to 80% of the last available appraisal.

As in all debt projects, this project incorporates the figure of the Project Monitor, who will review the work certifications, the progress in construction, possible deviations in time and cost, and who will approve the loan disbursements.

WHY INVEST?

There are several reasons to invest in this project:

• First rank mortgage guarantee on the underlying asset, located in Sierra Blanca, the most exclusive gated community in Marbella's Golden Mile.

• Attractive profitability with protected capital: interest rate of 10.50% per annum for Tranche A, with a minimum guaranteed return equivalent to 6 months of interest (make-whole).

• Project in advanced stage of construction: work progress over 65%, which significantly reduces the risk of execution and cost deviation.

• Conservative LTV: less than 44% on the last available appraisal (€ 22.24M, June 2026) and approximately 40% on the target sale price (€ 25M).

• Promoter of maximum prestige: The developer has more than 40 years of experience as a benchmark in the ultra-prime market in Marbella 

• Structural scarcity of supply in the luxury villa segment in Sierra Blanca, with sustained international demand from high net worth buyers.

MARKET

A market study has been carried out to determine whether the sale prices proposed by the manager are reasonable. In turn, a Technical Due Diligence and a Commercial Due Diligence have been carried out by external agents who have issued favorable reports. 

There is information available on the market within the "Sales Witnesses" documentation, where you will find a list of homes for sale in the area.

WHEN WILL I RECOVER THE INVESTED MONEY?

The estimated term for Tranche A of this project is 18 months with two possible extensions of 6 months (in months 18 and 24).

• May 2026: granting of Tranche A of the loan by Urbanitae investors to the developer and refinancing of the existing capex loan.

• Third quarter 2026: completion of construction works.

• First quarter 2027: delivery of the house and Open House.

• Fourth quarter 2027: sale of the villa and repayment of the loan to Urbanitae.

RISKS

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

• Commercial risk derived from a possible delay in the sale of the asset, which could cause delays in the repayment of the debt. This risk is mitigated by the participation of the five leading agencies in Marbella under an exclusive marketing model, the backing of the favorable report issued during the commercial due diligence, the conservative LTV of the project and the 18+6+6 month term that allows for adequate marketing.

• Risk of deviations in the project's deadlines due to possible unforeseen events during the final construction phase. To mitigate this risk, the project has the support of an independent Project Monitor in charge of supervising and controlling the execution schedule, and the work progress over 65% substantially reduces the remaining uncertainty.

• Risk of deviations in construction costs derived from unforeseen contingencies. To mitigate this risk, the developer has signed an Equity Commitment Letter committing to cover with own funds any cost overrun not contemplated in the business plan.

• Administrative risk (first occupancy license) derived from possible delays in obtaining the First Occupancy License (LPO). The risk is considered low, since the LPO is processed through a Responsible Declaration and the construction company has strictly followed the licensed project, as validated by the independent Technical Due Diligence.

• Possibility of change in 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.

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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 can in no case 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 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 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 information in the project investment area 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.