We have reached a new milestone at Urbanitae! Last November we announced 200 million euros, and today we are pleased to inform you that we have now financed 300 million euros through Urbanitae.
71 million financed in the first half of the year
From January to June 2024, we financed 71 million euros, representing a 32% increase compared to the same period in 2023. In the first half of the year, we published 27 projects. Fourteen of these were equity projects, confirming us as the only platform specialized in equity-type financing. Debt projects accounted for one-third of the total (9), and rental projects added up to 4.
Investor appetite for real estate has been reflected not only in the financing figures. During the first half of the year, we registered over 26,000 investments on the platform, a 12% increase compared to the same period in 2023. This activity led us to surpass 100,000 managed investments on Urbanitae in May.
Six projects returned
So far this year, we have also completed projects and returned capital to our investors. Specifically, five projects, two debt projects, and three equity projects. Grupanxon is behind Paseo Imperial. As usual, it is a storage unit project, and once again, the developer exceeded expectations: they returned the capital two months early, boosting the IRR to 10.6%. Something similar happened with Goya by VG Investment, which shortened the timeline and improved the IRR by 0.5 points, reaching 11%.
In the equity projects, however, the story is different. The three returned projects were financed before the recent crises: COVID-19 and the war in Ukraine. The results were far from the forecasts. However, we are satisfied with the work done alongside the developers to bring them to fruition and achieve even positive returns. This was the case with the projects Soto de Henares, Alcobendas, and Chelsea, which even improved the CoC by four points.
Leadership in Portugal
We will also remember this 2024 for our first projects outside of Spain. Last April 23, we made a grand debut in Portugal. Paulo Duque, with 1,010,000 euros, was financed in a day. Barao Forrester closed on April 5: five million euros, marking the largest real estate crowdfunding project in the country’s history. In April, Alexandre Herculano and Oasis followed, bringing the total to over 12.5 million euros. Something no one had achieved before.
And there are still six months to go… We face the second half of 2024 with the same enthusiasm and the expectation of launching our first projects in Italy and France very soon. Will you join us?
