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At Urbanitae, we present a new value-added project in Burgos. This time, you can invest in a new development project in the center of Burgos. The presentation will be on Tuesday, August 20 at 12 PM (UTC+2). Here are more details.
The Torre Zenit project involves developing a new residential promotion consisting of 84 apartments with 3 and 4 bedrooms and 18 tourist apartments in the center of Burgos. Additionally, the development includes a commercial space and facilities such as 84 storage rooms and 132 parking spaces. The common areas will feature a communal pool, landscaped areas, and a gym.
The Torre Zenit promotion is located on Eduardo Ontañón Street, in the San Pedro y San Felices neighborhood, in the southwest of Burgos. This area is currently the main residential expansion zone in the region, though it is already fully consolidated and equipped with all types of services.
The manager for this project is Grupo Pecsa, a leading construction company with over 80 years of experience. The group has extensive national experience, especially in Madrid and northern Spain, as well as abroad. They are currently developing over 1,000 homes.
The promotion is also supported by the BSA architecture studio, which leads the technical development of the project, and Grupo San Pablo, responsible for marketing the homes.
Building permit already granted
This project is value-added, meaning that the promoter and Urbanitae investors will become partners. Specifically, investors will contribute €4,820,000, intended for recapitalizing part of the funds provided by the three current partners of the promotion: Grupo Pecsa, BSA, and Grupo San Pablo.
A favorable point for this project is that the manager already owns the land on which the development will take place. Additionally, the building permit has been granted, and construction began in early 2024, with the project currently in the foundation and structure phase. The construction is financed by a loan already granted by one of the major national banks.
The marketing of the project is very advanced, with over 70% of the units already sold, including all 18 tourist apartments and 59 of the 84 homes.
In this video, the developer and our CEO, Diego Bestard, explain the project details.
Profitability in 26-30 months
The estimated duration of this project is 26 to 30 months. The operation is expected to close in the third quarter of 2024, with construction completed by the fourth quarter. The liquidation of the company and distribution of profits among investors is anticipated between the fourth quarter of 2026 and the first quarter of 2027.
As with all value-added projects, the regulator does not allow us to provide estimated profitability figures. However, it can be easily calculated from the project sheet information. The formula for calculation is: (Projected income – Estimated expenses) / Total equity.
If you have any questions, you can reach us on our Telegram channel, opening Thursday, August 8 at 4 PM (UTC+2). As always, you can contact us at contacto@urbanitae.com and at (+34) 911 23 25 22. Don’t miss the opportunity to invest in a prime area of Marbella with Urbanitae.
