*Click HERE to watch again the Webinar "Urbanitae up close - El Campello Project" which will be held next Monday, June 29 at 10:00h (UTC+2)*

El Campello Project | Alicante

• Debt project in El Campello, Alicante

• Amount: €2,255,000 // Term: 12 months 

• 10.0% Simple annual interest

• Loan guarantees:

1. First rank mortgage on the underlying asset (liability 135%).

2. First rank pledge on the shares of the borrowing SPV.

3. First rank pledge on the current accounts of the borrowing SPV.

4. First rank pledge on the VAT account.

We present a new project that consists of granting a bridge loan to finance the acquisition of a final urban plot, as well as the VAT of the transaction, in El Campello, Alicante.

The asset has a plot area of 5,575 m² and a total buildability of 2,889 m² for residential use. The lands are oriented towards the development of a boutique promotion of 24 luxury townhouses in a ground floor plus one floor (PB+1) configuration and underground parking.

Being consolidated urban land (sector UZ-7), the plot is ready for development without requiring additional prior urban procedures. It is estimated that obtaining the major work license from the City Council will take between 9 and 10 months.

The expected exit and repayment of the loan is expected to occur through two liquidity channels: the return of the VAT from the sale by the Tax Agency and the equity injections that the developer will finish raising during the life of the debt. The marketing, whose revenue target is around 19.5 million euros, has a mitigated risk thanks to the strong structural demand from buyers from northern Europe in the area and a very competitive design supported by low density and large common areas. 

The asset is located in the Cala de l'Amerador, in El Campello (Alicante), a consolidated low-density residential environment on the beachfront. It is one of the enclaves with the greatest residential projection for international clients, with excellent connectivity just 300 meters from the accesses to the N-332 road, the AP-7 highway and the Alicante-Denia TRAM line.