On Monday, June 8 at 4:00 p.m. (UTC+2), we will open for investment Project Vivaldi, a new real estate debt opportunity in Sierra Blanca, one of Marbella’s most exclusive residential developments.
The transaction consists of financing the final construction and fit-out phase of a luxury villa with construction progress exceeding 65%, backed by a first-ranking mortgage guarantee and an LTV below 44% based on the latest available valuation.
📅 Investment opening: Monday, June 8 at 4:00 p.m. (UTC+2)
🎙 Project webinar: Friday, June 5 at 12:00 p.m. (UTC+2)
During the webinar, we will explain all the details of the project and answer investors’ questions.
A luxury villa in Sierra Blanca
The project consists of granting a senior loan to partially refinance an existing CapEx loan, complete the construction and furnishing works of a luxury villa and finance a partial recapitalisation of the developer’s equity.
The asset is a newly built detached villa with a total constructed area of 2,032 m², located on a corner plot of 2,025 m². The property will feature 7 bedrooms, 8 bathrooms, a cinema room, wine cellar, full wellness area with spa, gym, indoor parking and extensive landscaped gardens with a swimming pool.
In addition, its elevated position provides panoramic sea and mountain views from every floor.
Sierra Blanca: ultra-prime on Marbella’s Golden Mile
The villa is located in Sierra Blanca, the most exclusive gated community on Marbella’s Golden Mile.
The asset is situated 3.3 km from the Golden Mile, 5.3 km from Marbella town centre and 9 km from Puerto Banús. The development combines privacy, 24-hour security and a privileged location in one of the Mediterranean’s most established luxury residential markets.
Sierra Blanca stands out for its structural shortage of supply and sustained international demand from high-net-worth buyers. This combination provides liquidity and appreciation potential for assets located within the development.
A licensed project with advanced construction progress
The project benefits from a valid building permit on fully entitled urban land. Construction, being carried out by a local contractor specialised in the luxury segment, has certified progress exceeding 65%.
This significantly reduces execution risk compared to projects still in early construction stages.
The project developer
The developer is a family-owned firm considered one of the benchmark names in Marbella’s ultra-prime segment, with more than 40 years of experience specialised in the Costa del Sol.
Its business model is based on selecting prime locations, maintaining high standards of design and construction and focusing clearly on high-net-worth clients. The company has a strong presence in Sierra Blanca and markets its projects through proprietary channels and a network of leading local agencies under an exclusive invitation-only model.
The developer is committing approximately €3.7 million of total equity to the project, composed of €4.45 million of day-one equity already invested, net of a €750,000 recapitalisation that will be repaid through Tranche A of the Urbanitae loan.
Total return of 15.75% over 18 months
The transaction is structured as debt through a fixed-rate loan granted to the project SPV.
The total loan amounts to €9,990,000, committed across three tranches:
- Tranche A: up to €7,340,000, of which €2,340,000 will be contributed by Urbanitae investors and €5,000,000 by external co-investors.
- Tranche B: up to €1,310,000, contributed by Urbanitae investors.
- Tranche C: up to €1,340,000, contributed by Urbanitae investors.
This opening will finance Urbanitae’s portion of Tranche A, with the following characteristics:
- Amount: €2,340,000
- Interest rate: 10.50% simple annual interest
- Total return: 15.75%
- Term: 18 months
- Possible extensions: two 6-month extensions, at months 18 and 24
- Principal and interest payment: at maturity
The second extension would increase the interest rate by 100 basis points, up to 11.50% annually.
The portion of the loan allocated to construction financing will be drawn through monthly certifications, subject to approval by the Project Monitor.
Loan guarantees
The loan benefits from a package of guarantees consisting of:
- First-ranking mortgage over the financed property, with mortgage liability equal to 130% of the principal.
- First-ranking pledge over the shares of the development SPV.
- First-ranking pledge over the project’s bank accounts, including the VAT account.
- Equity Commitment Letter, guaranteeing the developer’s commitment to provide additional capital to cover any cost overruns not contemplated in the business plan.
- Irrevocable sales mandate in favour of Urbanitae investors, enforceable in the event of non-payment, material breach or failure to fully repay on the agreed or extended maturity date.
The minimum sale price under the mandate will be equivalent to 80% of the latest available valuation.
In addition, as with all debt projects, a Project Monitor will supervise construction certifications, monitor construction progress, identify potential time or cost deviations and approve loan disbursements.
Exit strategy
The investors’ exit is expected through the sale of the villa, whose target price is €25 million.
Marketing will be carried out through the developer’s direct channels and a selection of Marbella’s five leading agencies under an invitation-only exclusive sales model.
The project presents an LTV below 44% based on the latest available valuation – €22.24 million as of June 2026 – and approximately 40% based on the target sale price.
Why invest in Project Vivaldi
Some of the project’s key strengths include:
- First-ranking mortgage over the underlying asset.
- Valid building permit and construction progress above 65%.
- LTV below 44% based on the latest available valuation.
- Developer commitment to contribute additional capital in case of cost overruns.
- Ultra-prime location in Sierra Blanca, Marbella.
- Developer with more than 40 years of experience in the Costa del Sol luxury residential segment.
Estimated timeline
The estimated term for Tranche A is 18 months, with two possible 6-month extensions.
Main expected milestones:
- May 2026: granting of Tranche A and refinancing of the existing CapEx loan.
- Third quarter of 2026: completion of construction works.
- First quarter of 2027: handover of the villa and open house.
- Fourth quarter of 2027: sale of the villa and repayment of the loan to Urbanitae.
A transaction in Marbella’s most exclusive segment
Project Vivaldi offers the opportunity to participate in the financing of a luxury villa in Sierra Blanca, with advanced construction progress, a valid building permit and a reinforced guarantee structure.
The combination of location, asset quality, developer experience and conservative LTV positions this transaction within Marbella’s most exclusive residential segment.
The investment opening will take place on Monday, June 8 at 4:00 p.m. (UTC+2).
Do you have questions about the project?
You can ask your questions during the webinar on Friday, June 5 at 12:00 p.m. (UTC+2).
You can also contact us at contacto@urbanitae.com or call us on (+34) 911 23 25 22.
