New Project! 26% Returns in Madrid in 24 Months

We present Alcalá 552, a new real estate debt project we will carry out together with Grupo Abauco in one of the most established and well-connected areas in eastern Madrid. This is a bridge loan in two tranches, with a fixed interest rate of 13% per year, partial quarterly interest payments, and a solid set of guarantees.

• Informative webinar: Monday, December 1 at 12:00 (UTC+1)
• Project opening: Tuesday, December 2 at 16:00 (UTC+1)

The webinar will feature Ricardo Sanz, CEO of Grupo Abauco, together with José María Gómez-Acebo and Luis Maura from Urbanitae.

Loan to Finance the Purchase

The operation consists of granting a bridge loan in two tranches to finance the first two payments of the purchase of an existing building at Calle Alcalá 552, in the San Blas-Canillejas district, Madrid. The asset is currently leased to an IBEX 35 company, the previous owner of the building, under a sale and leaseback contract with a 24-month mandatory term and an extension option for another 12 months.

During the lease term, part of the rent will be used to pay the quarterly interest of the bridge loan, reducing operational risk during this initial phase. Later, the building will support the development of a residential project with 129 units and 194 parking spaces.

What Exactly Are We Financing?

The manager has signed a private purchase agreement that establishes three payments to acquire the asset. Our bridge loan will partially finance the first two:

• Tranche A → first payment (December 2025)
• Tranche B → second payment (December 2026)

The manager will contribute €2.85 million of own funds before making the purchase public and will cover all general project costs—permits, fees, technical services—using own funds and 20% of the lease income.
The major construction permit will be applied for after the first payment, with an estimated timeline of 12 to 14 months.
Marketing is planned for the first half of 2027, mainly aimed at domestic buyers looking for primary residences.

Loan Terms

The Alcalá 552 operation is structured as a bridge loan. Key features:

• Total amount: up to €9,836,000
• Urbanitae contribution: up to €9,588,000
• Tranche A: up to €5,248,000, of which €5,000,000 comes from our investors
• Fixed interest rate: 13% per year simple
• Term: 24 months + 12-month extension option
• Principal repayment: at maturity
• Interest: partial quarterly payment, accrued from signing
• Early repayment: allowed, with minimum return equivalent to 24 months of interest

This structure allows the asset to advance toward its next phase (residential development) while protecting investors through quarterly interest payments and a minimum guaranteed return.

Robust Guarantees

The loan will include a particularly solid set of guarantees:

• First-rank pledge on the shares of the SPV owning the asset
• First-rank pledge on the borrower’s bank accounts
• Pledge of 80% of lease income
• Subordination of corporate loans to the bridge loan
• Corporate guarantee from ABAUCO PE, S.L. to provide the equity required for Tranche B
• Loan convertibility into SPV shares in case of default

This guarantees package places the investor in a strong legal and financial protection position.

A Manager with Proven Track Record

Grupo Abauco is a development company founded in 2019, with a team that has over 15 years of experience and more than €500 million in projects in Spain and Germany. They have developed projects in Madrid, Seville, Malaga, Marbella, and other locations.

This will be their ninth project financed with Urbanitae, following operations such as López de Hoyos, Narváez, Miguel Yuste, Elviria, or Embajadores 199, all with excellent market reception.

Strategic Location in Eastern Madrid

The asset is located in a key area between the M-30 and M-40, close to two main city entrances: Calle Alcalá and Avenida de América, and just 10 minutes from Adolfo Suárez Madrid-Barajas Airport.

San Blas-Canillejas is a district with high business concentration, stable housing demand, and excellent connectivity, reinforcing future liquidity and appeal to end buyers.

In this video, we explain the key points of the operation.