The project manager is AVENIA CAPITAL, a real estate developer with over ten years of experience focused on the development of premium projects on the Costa del Sol. Its founding partners have a broad track record in the financial and real estate sector in northern Europe and southern Spain, with over 4 billion euros in asset management.

The company specializes in the development and repositioning of residential assets in the Marbella and Benahavís area, where it has successfully completed ten projects including luxury villas, apartment complexes, townhouses and land development projects. They have a wide network of construction partners and trusted local contractors. 

The project consists of the renovation and repositioning of a single-family home with a pool built in 2004 for subsequent sale as a high-quality product. The house has a built area of 645 m² on a plot of 1,608 m² and is distributed on one floor above ground and a semi-basement level. It will have 5 bedrooms, 6 bathrooms, a pool and a garage. 

The project manager acquired the asset in May 2025 with own funds, having committed to date a total capital of approximately 2 million euros. 

The building permit for interior renovation has already been submitted to the Benahavís City Council and is being processed, with approval expected next month. This will allow the start of work during the summer months. 

The renovation works, including interior design and furnishing of the villa, will last between 16-18 months. This period has been validated by the technical due diligence. 

Urbanitae investors will enter the project through the granting of a mortgage loan committed in 2 tranches, to partially finance the renovation costs and general project costs. 

Tranche A of €1,150,000 will have a fixed annual rate of 10.5% and a term of 24 months with the option to extend for an additional 6 months in month 24 (24+6). 

The exit of Urbanitae investors will occur through the income from the sale of the house. 

The marketing of the asset will be carried out by a prestigious real estate agent on the Costa del Sol, with previous experience working with the developer. The commercial strategy contemplates going to market with advanced renovation works. The villa will have high-quality finishes and integrated interior design, maximizing the price and reducing the exposure time.

STRUCTURE

This operation will be structured via debt, where Urbanitae Investors will grant a fixed-rate loan to the company AVENIA INVESTMENTS, S.L.

The total amount of the gross loan will rise to an amount of 2,240,000 which will be fully financed by Urbanitae investors. The total loan will be structured in two tranches, whose main characteristics are as follows (you can consult more information in the document "Fundamental Data of the Investment"):

• Total loan amount: up to a maximum of 2,240,000 €, committed in two tranches:

I. A first tranche or Tranche A, for an amount of up to 1,150,000 €, raised by Urbanitae investors. 

II. A second tranche or Tranche B, for an amount of up to 1,090,000 €, raised by Urbanitae investors.

• Simple annual fixed interest rate of 10.5% for Tranche A.

• Loan term: 24 months with the option to extend for 6 months in month 24.

• 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 costs will be disbursed by the developer 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 interest return for Tranche A equivalent to 18 months. 

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

• First rank mortgage real guarantee on the property subject to financing, with Mortgage Responsibility of 140%. 

• Private contract of first rank pledge on the shares of the Borrower SPV.

• Private contract of first rank pledge on the bank accounts of the Borrower SPV.

• Irrevocable sales mandate in favor of Urbanitae investors that will be activated in month 24 if the extension does not occur or in month 30 if the extension occurs or upon the materialization of any loan default.

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

WHY INVEST?

There are several reasons to invest in this project:

• First rank mortgage guarantee on the underlying asset, located in the prestigious urbanization of El Herrojo, Benahávís (Málaga).

• Reduced construction risk, as it is a reform on an existing structure and a predictable execution period.

• Annual return of 10.5%, with a minimum return equivalent to 18 months of interest (15.75%).

• Solid experience of the manager in the promotion of similar real estate products on the Costa del Sol, proven in 10 successfully delivered projects.

MARKET

A market study has been carried out to determine if the sales 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 a favorable report corroborating the proposed prices and the promoter's business plan. 

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 of this project is 24 months with a possible extension of 6 additional months in month 24 (24+6).

• July 2026, granting of the loan by Urbanitae investors to the promoter, obtaining the license and start of the reform works.

• Fourth quarter of 2027, completion of the reform works, interior design and furnishing.

• Second quarter of 2028, 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 a leading real estate agent in the sector, as well as the backing of the favorable report issued during the commercial due diligence, which validates the sales price set in the Business Plan.

• Risk of deviations in the project deadlines due to possible unforeseen events during the construction phase. To mitigate this risk, the promoter has the support of a Project Manager in charge of the rigorous supervision and control of the execution schedule ensuring the fulfillment of the established milestones. Likewise, it is an experienced manager in the reform and repositioning of similar real estate products.

• Risk of deviations in construction costs derived from unforeseen contingencies. To mitigate this risk, a contingency item has been included in the Business Plan to absorb possible cost overruns without compromising the financial viability of the project. 

• Possibility of changing the agreed conditions. This risk includes potential substantial changes that may occur 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, on 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 Urbanitae's Internal Code of Conduct, 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.