Invest in CRE in Vigo at 10.5% Annual

We bring a new debt project, our first operation in Galicia: the Navia project, an opportunity with a fixed annual return of 10.5% and a 15-month term, in which we will provide a loan to refinance an existing mortgage on the land where a retail park of medium-sized stores in Vigo (Pontevedra) will be developed.

Financing will open on Monday, November 17 at 4:00 PM (UTC+1). On the same day, at 12:00 PM, we will hold an informational webinar with the project manager.

A Modern Retail Park with Anchor Tenants

The loan is secured by a specific asset: a 14,104 m² plot with a gross leasable area (GLA) of 10,484 m², where the Navia Retail Park will be developed. The project includes:

• 11 medium-sized retail units
• 470 parking spaces
• Electric vehicle charging stations
• Photovoltaic panels

At launch, the manager already has two lease agreements signed with top-tier food operators, representing 50% of the total leasable area. Additionally, there are advanced negotiations with several other operators, which strengthens the park’s commercial viability. Estimated net rent is around €1.7 million per year.

13% Return in 15 Months

Investors will enter the project through a single-tranche loan, with a total amount of up to €5,200,000 (€5,000,000 contributed by Urbanitae investors and €200,000 by external co-investors).

The loan will have:

• 10.5% fixed annual simple interest
• 13.13% total return in 15 months
• Minimum guaranteed return equivalent to 6 months of interest (5.25%)
• Full payment of interest and principal at maturity

This is a debt project with a very robust guarantee structure, including:

• First-ranking mortgage on the main plot where the park will be developed
• First-ranking mortgage on an adjacent plot with mixed commercial/industrial use
• First-ranking pledge on the borrower’s shares and bank accounts
• First-ranking pledge on the sale contract proceeds
• First-ranking pledge on project contracts (construction and operation)

Additionally, the project has a loan-to-value (LTV) ratio of 25.6%, a very conservative level that reduces the operation’s risk.

Vigo, One of the Northwest’s Economic Engines

The asset is located in Vigo’s second belt, near the VG-20 urban highway, in an area with high visibility, traffic, and accessibility. With nearly 300,000 inhabitants and a functional area exceeding 540,000 people, Vigo is one of Galicia’s most dynamic cities. Its port, currently a candidate to become a major European hub, is one of the region’s main economic drivers.

This context positions the retail park to capture stable and growing demand, especially in the medium-sized store segment, where modern supply remains limited.

A Manager with Over 20 Years of Experience

The project is led by Habitares Ibérica, a Spanish developer and construction company with a long track record of over 2,500 homes built. The group has proven experience in residential projects, public housing (VPO), and especially in commercial developments like the Navia Park.

In this case, the promoter has already committed €2.5 million to cover part of the acquisition and general costs. Their participation is a clear signal of alignment of interests with investors.

Project Timeline

The estimated term is 15 months, subject to the execution of the sale contract:

• Q4 2025: Loan granted by investors
• Q1–Q2 2026: Conditions fulfilled to formalize the sale
• Q3–Q4 2026: Asset sale and loan repayment (interest + principal)

Early repayment will be allowed, always with a minimum return equivalent to six months of interest.

In this video, we explain the project details: