The project manager is ELITE CAPITAL PRIME, S.L., a real estate company based in Albacete specializing in the acquisition, rehabilitation, and transformation of real estate assets for subsequent marketing. Its business model mainly focuses on identifying opportunities in off-market assets with the potential for transformation into real estate products intended for sale.

The company is led by its two founding partners, José Gabriel Bautista Caballero and Francisco Javier Martínez Cifuentes, who act as joint administrators of the company.

The project consists of the construction of 236 garages and 52 storage rooms on the ground floor of two residential buildings. After the reform, each asset will have 118 parking spaces and 26 storage rooms. 

The developer acquired the asset in July 2026 with its own funds, disbursing €1,162,200 for the purchase of the land and the associated acquisition costs.  

The completion of the work is scheduled for the first quarter of 2027 after obtaining the building permit before the end of the year.

After the recapitalization of own funds, the capital invested by the developer in the project is €612,200 and it is expected that the developer will cover the general costs of the Project and potential unforeseen events with its own funds. 

The project is mainly aimed at current residents of the area and future buyers of the new residential developments in the environment, who are looking to have a parking space and/or storage room associated with their home. Likewise, the product may be attractive to investors interested in assets at an affordable ticket and with potential rental demand.

The developer will start marketing once the work has begun. 

The exit and repayment of the loan will occur with the sale of the parking spaces and storage rooms. 

The leverage ratios of the operation reflect a solid financing structure: a gross LTC of 62% and a LTV of 57% on the current value of the two assets. 

STRUCTURE AND FINANCIAL CONDITIONS

This operation is structured as debt: Urbanitae investors will grant a fixed-rate loan to the company ELITE CAPITAL PRIME S.L.

• Gross amount: €1,315,000, committed in a single tranche.

• Interest rate: 10.0% simple annual.

• Term: 18 months, with two extension options of 6 additional months in month 18 and in month 24 (18+6+6).

• Minimum return (make-whole): 8 months.

• Amortization: partial from month 12 of the principal and interest.

Total early repayment will be allowed at any time, subject to a minimum return equivalent to 8 months of interest.

The main guarantees of the loan, included in the financing contract, are as follows:

• First rank mortgage on the underlying asset of the financing with mortgage liability of 140% of the principal amount of the debt 

• Cash sweep for 100% of the net cash amount generated by the sale of parking units and storage rooms for the repayment of the Urbanitae loan

• Corporate guarantee in which the Borrower commits to back the repayment of the Urbanitae Loan (principal and interest) with its balance sheet

• Pledge of the collection rights of the additional project presented in Albacete, which is estimated to report a net cash flow of c.€1.2m

• Equity Commitment Letter irrevocable and unconditional guaranteeing the commitment of additional contributions of own funds in order to ensure the payment of the necessary amounts to complete the Project in case of materializing overcosts on the Business Plan presented.

WHY INVEST?

These are the main reasons to consider this project:

• Strategic location in the Imaginalia neighborhood, one of the areas of greatest residential development in Albacete, with limited supply of parking spaces and storage rooms and solid demand, both from current residents and future buyers of new promotions.

• Low acquisition cost and limited execution risk, with a purchase price of c. €185/m² compared to a valuation of €379/m². The license application has already been submitted and the construction has an estimated execution period of 2–4 months since the structure of the asset was already developed and only conditioning and finishing the work remains.

• Solid manager experience in asset reforms both in Albacete and Madrid; more than 30 years of combined experience in banking and real estate and more than 25 operations completed to date.

• First rank mortgage guarantee on the underlying asset, complemented with a solid package of additional guarantees.

• Annual return of 10.0%, with a minimum return equivalent to 8 months of interest.

MARKET

A market study has been carried out to verify that the selling price proposed in the business plan is reasonable. Additionally, an external agent has carried out a commercial due diligence whose report confirms the scarce supply and high demand for this type of assets. 

You can find more information about the market in the document "Sales Witnesses", where you will find a list of homes for sale in the area.

WHEN WILL I RECOVER THE INVESTED MONEY?

The estimated term of the project is 18 months, with a possible extension of an additional 6 months in month 18 (1st Extension) and with a second possible additional extension of 6 months in month 24 (2nd Extension).

• October 2026: loan granted by Urbanitae investors.

• December 2026: start of construction works and start of marketing. 

• First quarter of 2027: completion of works 

• Fourth quarter of 2027: loan repayment starting from month 12

RISKS

Every investment carries risk. Below are the main risks identified for this project:

• Risk of deviation in project deadlines, due to possible unforeseen events. The technical due diligence has validated the current degree of execution and the expected timeframe for the completion of the works.

• Risk of deviation in construction costs, due to possible unforeseen events. A technical due diligence has validated the construction costs of the business plan. Any deviation or unforeseen event will be supported by the project promoter's own funds. 

• Risk associated with the sales pace, due to possible deviations from the planned schedule. However, an independent commercial due diligence has validated the supply and demand in the area, as well as the sales rates contemplated in the business plan. Also, the financing contemplates a repayment schedule in accordance with the planned sales schedule. 

• Risk of change in agreed conditions: possible substantial modifications between the start of the financing campaign and the formalization of the loan contract. In such case, the project would be cancelled and the investment would be returned to the participants.

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 investment of the project, the period for raising funds may be exceeded by up to 25%, maintaining the same investment conditions. Also, 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 received funds, 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;

• Directors or employees of Urbanitae;

• Individuals or legal entities linked to these partners, directors 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, nor 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 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.