• Equity project in the Lavapiés neighborhood, Central Madrid

• Acquisition of a residential building with 19 apartments, 19 storage rooms and 1 commercial premises for its operation as tourist accommodation under the Reside Plan license

• Preferred IRR profitability of 14%, which means priority in collection: investors first recover their capital and reach their preferred profitability before the developer.

• Ticket: € 3,375,000 // Term: 22-26 months

We present a new project: Project Lavapiés 50, which consists of the acquisition of a building on Lavapiés Street 50 in Madrid of a residential character almost completely renovated with a total constructed area of 1,443 m², distributed in 19 apartments (one of which is under the Old Rent regime, currently under negotiation). The investment thesis contemplates the acquisition of the asset under a medium-term rental scheme of up to one year and, simultaneously, applying for the License of the "Reside Plan" to convert the asset to tourist rental use for fifteen years, operate it for one year as a VUT (Tourist Use Housing) and its subsequent sale to an institutional or patrimonial investor.

The asset is located on Lavapiés Street, 50, in the Central District of Madrid. The building has a constructed area of 1,443 m², distributed on the ground floor plus four floors, with Level 3 heritage protection. The total investment amounts to € 4,500,000, of which € 3,375,000 correspond to the contribution of Urbanitae investors (75% of the total equity), € 1,125,000 to the developer (25%) and € 4,445,000 to senior bank financing with a national banking entity. This financing is already approved.

The developer already signed the earnest money contract in January 2026 with an initial contribution of € 500,000 plus a reinforcement of € 200,000, adding a total of € 700,000 in earnest money. The closing of the acquisition is scheduled for the end of June. The asset will be contributed to a new vehicle company in which Urbanitae investors and the Sponsor will participate. In unity of act with the purchase of the asset, the management contract with the operator and the subrogation of the existing mortgage to the banking entity will be signed.