New debt project in Mallorca with a 12% return!
This week, we are launching a new debt project in Mallorca, which will open for financing on Tuesday, October 24th at 4 p.m.
The Andratx project is located in the high area of the Port of Andratx, one of the most touristy spots on the island of Mallorca, thanks to its location surrounded by clear water coves and its highly regarded marina.
For this project, we have partnered with DMARCHEE, who has over 35 years of experience and has delivered more than 2,000 properties.
Mortgage guarantee on the property that makes up the project
This operation will be structured as debt, where Urbanitae investors will provide a fixed-rate loan of 12% to the owning company of the asset. This loan will be used for refinancing 100% of the principal of a loan granted by an alternative debt fund that currently encumbers the asset, as well as to finance the final finishes of the property.
DMARCHEE is waiting to receive the Final Certificate of Works (CFO) and subsequently, the granting of the License for First Occupation (LPO) from the municipality.
The exit for Urbanitae investors will be through the sale of the property.
In this video, Gabriel Lasa, CEO of PERISA, and Diego Bestard, CEO of Urbanitae, explain the key details of the project.
12% return in 12 months
The project offers a 12% return in 12 months. In the fourth quarter of 2023, the loan is expected to be granted by Urbanitae investors to the manager and the existing debt will be refinanced.
During the first quarter of 2024, the completion of property finishes is estimated.
Finally, in the fourth quarter of 2024, the sale of the villa and repayment of the loan granted by Urbanitae investors is expected.
As always, you can reach out to us with any questions about the project at contacto@urbanitae.com or by calling 911 23 25 22.