On Wednesday, May 20 at 4:00 p.m. (UTC+2), we will open Project Polarsol for investment, a new real estate debt opportunity in Mijas Costa, Málaga.
- 📅 Investment opening: Wednesday, May 20 at 4:00 p.m. (UTC+2)
- 🎙 Project webinar: Tuesday, May 19 at 12:00 p.m. (UTC+2)
During the webinar, we will be joined by Alberto Soto, Business Development Director at Urbania, who will explain all the details of the project and answer investors’ questions.
A land plot for 167 homes and a commercial area in Mijas Costa
The project consists of granting a loan intended to partially finance the acquisition of a land plot located in the Polarsol development, in Mijas Costa, where a new-build luxury residential development is planned.
The asset has a total surface area of 25,383 sqm and a total buildable area of 14,620 sqm. Of this buildable area, 11,620 sqm corresponds to residential use and 3,000 sqm to commercial use.
The project plans include:
- 167 luxury apartments
- A commercial area
- A beachfront location, with elevated topography and panoramic views of the Mediterranean Sea
The loan will finance approximately 83% of the land acquisition costs.
Location: beachfront in Mijas
The plot is located in one of the most exclusive areas of Mijas, surrounded by established residential developments and enjoying a privileged beachfront position.
Its elevated topography provides panoramic views of the Mediterranean Sea, and the area benefits from excellent connections to the A-7 and AP-7 motorways, allowing easy access to Marbella, Fuengirola and Málaga Airport.
Mijas Costa, in the heart of the Costa del Sol, combines a Mediterranean environment, beaches, golf courses, services and high-end residential developments. All of this has consolidated it as one of the most sought-after residential and holiday destinations in the region.
The developer: Urbania
The project developer is Urbania, a development, management and investment company with extensive experience in the real estate sector.
To date, Urbania has developed projects worth more than €1.2 billion across Spain, Portugal and Brazil. The company has a team of more than 150 professionals and operates across different areas of the sector, from land development to flex living projects.
Polarsol will be Urbania’s third project on Urbanitae, following Sky Villas (Ibiza), already successfully repaid to investors, and Green Village (Benalmádena), which is progressing as planned.
Current status of the project
The borrower has already invested approximately €1.8 million in the project as a deposit payment, formalised in January. The deadline to complete the acquisition and pay the remaining amount is May 29, 2026.
Upon signing the Urbanitae loan, the borrower will have invested more than €2.3 million of equity into the project.
From an urban planning perspective, the project is awaiting final approval of the Urbanisation Project, which is expected once an agreement is reached with the Ministry of Transport and Sustainable Mobility regarding several motorway access points. Once approved, the Detailed Study and subsequently the Basic Project will be processed in order to obtain the building permit.
Transaction structure
The transaction is structured as debt, through a fixed-rate loan granted to URBANIA RESI DEVELOPMENTS I, S.A.
The total loan amounts to up to €11,875,000, financed by Urbanitae investors and external co-investors. Of this amount:
- €5,000,000 will be financed by Urbanitae investors
- €6,875,000 will be financed by external co-investors
The main features of the Urbanitae tranche are:
- Amount: €5,000,000
- Interest rate: 12.5% annual simple interest
- Total return: 25.0%
- Term: 24 months
- Possible extension: additional 6 months
- Minimum interest: equivalent to 15 months of interest
- Interest and principal repayment: at maturity
Full early repayment will be allowed at any time, subject to a guaranteed minimum return equivalent to 15 months of interest.
Loan guarantees
The loan benefits from several key guarantees:
- First-ranking mortgage over the plot, with mortgage liability equal to 150% of the principal amount of the debt.
- First-demand surety insurance policy signed with a top-tier insurance company, guaranteeing the borrower’s payment obligations.
- First-ranking pledge over the project’s bank accounts, including the VAT account where recoverable VAT is refunded.
In addition, the loan presents an LTV of 53.5% based on the appraised value of the land, excluding interest.
Exit strategy
The investors’ exit is expected through bank refinancing, once the building permit has been obtained and the pre-sales threshold required by the financing bank has been achieved.
This strategy is common in projects where alternative financing covers an initial phase of the development – in this case, the acquisition of the land – until the project reaches the milestones necessary to access a developer loan.
Why invest in Project Polarsol
These are some of the project’s main strengths:
- Urban land in a beachfront location in a consolidated area of Mijas Costa.
- Appraised value exceeding €22 million for the underlying asset.
- Highly experienced developer, with more than €1.2 billion developed across Spain, Portugal and Brazil.
- Urbania’s third project on Urbanitae, following one successfully repaid transaction and another currently under development.
- Fixed annual return of 12.5%, with a minimum return equivalent to 15 months of interest.
- First-ranking mortgage and surety insurance as the main guarantees.
- 53.5% LTV based on the appraised land value.
Estimated timeline
The estimated project term is 24 months, with the possibility of an additional 6-month extension.
Main expected milestones:
- Q2 2026: loan granted by Urbanitae investors.
- Q3 2026 – Q1 2027: approval of the Urbanisation Project and preparation of the Detailed Study.
- Q2 2027 – Q4 2027: approval of the Detailed Study, processing of the building permit and launch of commercialisation.
- Q1 2028 – Q2 2028: obtaining the building permit, achievement of the bank’s required pre-sales threshold, granting of the developer loan and refinancing of the Urbanitae loan.
A debt opportunity on the Costa del Sol
Project Polarsol offers the opportunity to participate in the financing of a beachfront land plot in Mijas Costa, one of the most sought-after residential and holiday destinations on the Mediterranean coast.
The combination of location, underlying asset value, developer experience, first-ranking mortgage guarantee and surety insurance reinforces the attractiveness of this transaction within Urbanitae’s real estate debt offering.
Remember: Project Polarsol opens for investment on Wednesday, May 20 at 4:00 p.m. (UTC+2).
Do you have questions about the project?
If you would like to learn all the details of the transaction, you can ask your questions during the webinar on Tuesday, May 19 at 12:00 p.m. (UTC+2).
You can also contact us at contacto@urbanitae.com or call us at (+34) 911 23 25 22.
