New project! Invest in new construction in Móstoles

June is coming to an end, but we don’t want to close the month without announcing a new project. In this case, we invite you to invest in new construction in Móstoles. It will be next Friday, June 28 at 12:00 p.m. (UTC+2). Here are the details.

The América project involves the purchase of four plots of land with a small building for demolition and the subsequent development of 66 homes and a commercial space. The plots are located in the center of Móstoles, next to Ernesto Peces Square. Besides, the metro is a six-minute walk away, and the area is well-established with parks, supermarkets, a school, etc. Additionally, it has direct connection to the A-5 and access to the M-50.

As for the homes, there will be 66 multi-family units with one and two bedrooms and around 50 square meters of space. All of them will have medium-high quality finishes and will include a parking space and common areas. The 1,700-square-meter commercial space has already attracted interest from a supermarket chain.

The developer of this opportunity is Behike Capital, a newly created company. However, its partners have extensive experience in both real estate development and finance.

Capital gains strategy

The project follows a capital gains strategy. This means that Urbanitae investors and the developer become partners. Their contributions will be used to purchase the asset and cover costs not funded by the bank. Bank financing will indeed be necessary to cover the construction and technical costs of the América project.

Specifically, Urbanitae investors will contribute a ticket of 4,100,000 euros (plus the 5,000 euros contributed and maintained for SPV expenses). Behike Capital, on the other hand, contributes 20% of the total investment value.

Profitability in 32-36 months

Among the strong points of the project, it is worth noting that it introduces to the market a product—new quality housing—that is scarce in the center of Móstoles. Furthermore, the developer, Behike Capital, has already signed a purchase contract for the four plots of land. As mentioned, they also invest their own capital.

As with all capital gains projects, the regulator (CNMV) does not allow us to disclose an estimated profitability figure. Additionally, we are required to present two additional scenarios beyond the baseline. In all scenarios, the profitability calculation is made in the same way, based on the project data sheet. The formula is: (Revenue Forecast – Cost Estimate) / Total Equity.

We have estimated a project duration of 32 to 36 months. We expect the purchase of the assets to be completed in the third quarter of 2024. Construction will start in the second quarter of 2025 and finish, in principle, in the second quarter of 2027. The liquidation of the company and the distribution of profits to investors will occur in the third quarter of 2027.

In this video, our CEO, Diego Bestard, explains the key points of the project alongside the developer.