Urbanitae closes November with 19 million euros funded
We wrap up the penultimate month of 2024 with great news: seven projects funded and over €19 million raised, representing a 70% increase compared to the same month in 2023.
In terms of project type, last month was fairly balanced between debt (4) and equity (3). However, as is typical for equity projects, the investment tickets were larger. In total, we funded nearly €12 million in equity and €7.5 million in loans.
Strengthening Leadership in Portugal
We are pleased to share that Portugal played a key role in November. We partnered again with Caler Advisory & Asset Management following the success of the Barao Forrester project, a €5 million venture funded in April. The Julio Dinis project, with a €4.8 million ticket, is similar in nature: the development of 96 serviced apartments operated by Líbere Hospitality Group in Porto.
Just seven days later, we launched the Castilho 3 project with a new developer, Mexto. This operation highlights the strength of the luxury real estate market in Portugal, particularly in Lisbon. For this project, we teamed up with the developer to construct between five and six luxury homes in the Portuguese capital. The over 1,000 investors who participated joined as partners in a development that already had a building permit and achieved its first sale within just one day of marketing.
These milestones further solidify our leadership in Portugal. In just one year of operations in the country, we have reached a total funding of nearly €25 million, focusing on prime residential projects and high-value tickets – averaging €3.5 million per project. Overall, we’ve managed more than 5,800 investments in Portugal and contributed to the delivery of over 300 units.
Luxury Residential on the Rise
In Spain, high-end projects continue to attract substantial investor interest. Four of the seven projects we funded this month belong to the luxury segment – including Castilho 3. The three Spanish-based projects share a common denominator: Marbella. This Andalusian city is proving itself to be one of Europe’s key hubs for luxury real estate.
Two of the three Spanish luxury projects funded in November were second debt tranches for developments already underway. These include Villa Alcalá II, a five-bedroom, five-bathroom villa in Nueva Andalucía, and Cazorla – Piemonte III, which continues the construction of two villas located in the Las Lomas de Marbella Club and Be Aloha developments, respectively.
The Jacaranda project also takes us back to Marbella, this time with Influence Property – a newcomer to our platform – to develop two luxury homes in the Las Brisas Frontline Golf neighborhood. These projects bring our total to an impressive €130 million in luxury residential developments across Spain and Portugal since we began operations in mid-2019.
The numbers – and, most importantly, the trust of our investors – motivate us to keep seeking the best investment opportunities. All signs point to a productive final month of the year. Stay tuned!