New Project! Invest in Vigo with 21% Total Return

We present Pizarro, a new real estate debt project in the heart of Vigo, Galicia’s largest city and main economic hub. We will co-invest in the purchase and full renovation of an existing building to transform it into 25 multifamily apartments and 5 parking spaces in one of the city’s areas with the highest residential demand.

• Webinar: Monday, December 15 at 12:00 PM (UTC+1)
• Funding opens: Tuesday, December 16 at 4:00 PM (UTC+1)

The webinar will feature Roberto García Fortes, CEO of Ledicia Real Estate, the project manager, who will explain the operation in detail and answer all investor questions.

21.5% Return in 24 Months

Urbanitae investors in Project Pizarro will participate through a mortgage loan structured in three tranches, totaling up to €4,055,000, aimed at financing both the acquisition of the asset and the renovation works. The first tranche, now open for funding, has the following characteristics:

• Tranche A Amount: €2,290,000
• Fixed Interest Rate: 10.75% per year (simple interest)
• Term: 24 months + 6-month extension
• Total Return: 21.5%
• Minimum Return: 15 months of interest (13.43%)
• Interest and Principal Payment: at maturity

Tranches B and C (€1,085,000 and €680,000, respectively) will be activated later, also through the platform. The portion of the loan allocated for renovation will be disbursed monthly through certifications, supervised by an independent project monitor.

11 Floors and 25 Modern Apartments

Project Pizarro involves the full renovation of an existing residential building, with 11 above-ground floors and 3,272 m² constructed. The renovation will include:

• Facade renovation
• Improvements to common areas and elevator
• Complete interior redistribution
• 1- to 4-bedroom apartments, adapted to current demand
• Creation of a rooftop solarium with jacuzzi
• Implementation of parking on the ground floor

Currently, the building is empty and tenant-free. The horizontal property division process has already begun, allowing each apartment to be sold independently. Additionally, the project manager has just successfully completed a similar renovation on the same street, which was very well received, strengthening confidence in the project’s absorption.

Prices Rising 8% in Vigo

The asset is located at Pizarro 50, one of the city’s main streets, very close to Gran Vía, the old town, Vigo Urzaiz train station (10-minute walk), and two major shopping centers. It is a consolidated area, with all services, local commerce, and new high-interest residential developments, reflecting the ongoing urban renewal of central Vigo.

Vigo stands out for:

• Being Galicia’s largest city, with over 290,000 inhabitants
• Concentrating 25.6% of the region’s business revenue
• Showing very stable residential demand
• A growing market, with annual price increases between 8% and 13%

This dynamism, combined with the scarcity of renovated buildings ready for delivery, favors the quick sale of the project’s apartments.

Experienced Manager: Ledicia Real Estate

The project is led by Ledicia Real Estate, a Galician real estate group founded in 2022 by professionals with more than 20 years of experience in management, investment, tourism exploitation, and property development.

The promoter has already invested €395,000 in equity in the project (deposits and planning costs) and will contribute:

• €750,000 at the time of acquisition
• Up to €1.17 million additional for construction costs and contingencies

In total, the committed equity amounts to approximately €2.3 million, demonstrating strong alignment of interests.

Loan Guarantees

The loan will have a solid guarantee structure:

• First-ranking mortgage with 140% liability
• First-ranking pledge on the shares of the borrowing SPV
• First-ranking pledge on the project accounts

Planned Timeline

The estimated term for Project Pizarro is 24 months, with a possible 6-month extension:

• December 2025 → Loan granting and property purchase signing
• Q1 2026 → Start of construction and sales
• Q3 2027 → Completion of renovation
• Q4 2027 → Apartment delivery and loan repayment to Urbanitae

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