Son Vida, loan with an 11% return
This week, we are returning to Mallorca to present a new investment opportunity, which consists of a 12-month loan with an 11% return. This opportunity will open for financing on Tuesday, October 31st at 4 PM.
The Son Vida project is located in Son Vida, a luxury residential area just a 10-minute drive from the city center of Palma. This residential area boasts over 350 mansions with all kinds of amenities.
For this project, we are partnering with a new developer, Panossian C&T, specialized in developing luxury properties in Spain.
Quarterly interest payment
This operation will be structured as a debt, where Urbanitae investors will grant a fixed-rate 12-month loan at 11% to the asset-owning company. This loan will be used to repay the principal of two second and third-ranking loans provided by two alternative funds, as well as to finance the final finishing touches of the villa.
The project has obtained the First Occupancy License, and the construction is nearly completed, pending the final finishing touches.
The exit for Urbanitae investors will occur through the sale of the property. The loan term is 12 months, with an option to extend for 6 months. Additionally, interest payments will be made quarterly (corresponding to natural quarters).
In this video, Varant Panossian, CEO of Panossian C&T, and Diego Bestard, CEO of Urbanitae, explain the project’s key points.
11% return in 12 months
The project offers an 11% return over 12 months. In the fourth quarter of 2023, Urbanitae investors are expected to grant the loan to the manager and refinance the second and third-ranking debts.
During the first quarter of 2024, the final finishing touches of the property are anticipated to be completed.
Finally, in the fourth quarter of 2024, the villa is expected to be sold, and the loan granted by Urbanitae investors will be repaid.
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.