Next Monday, 27 July at 16:00 (UTC+2), we will open the Mirador Sur project for investment. This is a new capital appreciation opportunity in Albal, Valencia.
The transaction consists of participating, together with the developer, in the development of a residential project comprising 240 multi-family homes, distributed across 3 towers, with 1-, 2- and 3-bedroom layouts.
The project offers Urbanitae investors a 21.15% preferred IRR and has an estimated term of 48-54 months.
- Opening for investment: Monday, 27 July at 16:00 (UTC+2)
- Project webinar: Thursday, 23 July at 12:00 (UTC+2)
240 Homes Across 3 Towers
Mirador Sur involves the development of 240 multi-family homes in the municipality of Albal, within the southern metropolitan area of Valencia.
The development will be organised into 3 independent towers, a configuration that maximises natural light and optimises the housing layouts. All homes will be exterior-facing and will have 1-, 2- and 3-bedroom layouts.
The transaction will finance the initial development costs, as well as the cancellation of the debt currently attached to the property, corresponding to a bridge loan from Urbanitae.
A Metropolitan Location Next to Valencia
The land is located in Albal, in the l’Horta Sud district, less than 10 kilometres from Valencia city centre.
The municipality has direct connections via the V-31 and A-7, two of the main road axes in the metropolitan area. In addition, a new Renfe station is being developed around 400 metres from the project. This station will connect Albal with the centre of Valencia in under 15 minutes.
Albal forms part of a metropolitan area with more than 129,000 residents, together with neighbouring municipalities such as Catarroja, Silla and Alfafar. It is a consolidated residential area, with access to educational centres, sports facilities, shops and green areas.
The Manager: ConfortHogar
The project manager is a company belonging to the ConfortHogar group, a local developer with experience in new-build developments in the Valencian Community.
Urbanitae has already worked with this manager on other projects. This provides prior knowledge of its way of working and execution capacity.
In Mirador Sur, the developer will invest its own capital and that of its partners alongside the capital of Urbanitae investors and other additional investors. This reinforces the alignment of interests between the parties.
21.15% Preferred IRR
Mirador Sur is structured as a capital appreciation project. Contributions from Urbanitae investors will be channelled through a capital increase in a special purpose vehicle created for the transaction, which will later enter the project development company.
The main characteristics of the transaction are:
- Project type: capital appreciation
- Location: Albal, Valencia
- Product: 240 homes in 3 towers
- Urbanitae ticket: €2,000,000
- Estimated term: 48-54 months
- Preferred IRR: 21.15%
The distribution structure establishes that Urbanitae investors in this first tranche will have payment priority until they recover their investment plus a preferred IRR of 21.15%.
Investors in the second tranche, planned once the building permit is obtained, will in turn have a preferred return of 17.29% IRR. Only after these preferred returns have been met will the developer recover its capital and an equivalent return.
If additional profits are generated above that threshold, the developer will receive 50% of the excess, 5% will be allocated to capital structuring, and the remainder will be distributed according to the percentage of capital held by each party.
Permit, Financing and Commercialisation
The building permit will be requested in the coming months. Obtaining it first requires the approval of the specific amendment to the General Plan of Albal. It is estimated that the permit may be obtained within approximately 18 months.
In financial terms, the project will have senior bank financing for an approximate amount of €35 million, including the amounts paid on account by clients. This financing is currently being negotiated with two institutions.
Commercialisation is expected to begin in October 2026, with an estimated sales pace of 8 units per month for 30 months, until all 240 homes are sold.
Why Invest in the Mirador Sur Project
These are some of the main strengths of the transaction:
- Development of 240 homes in the southern metropolitan area of Valencia.
- Location in Albal, less than 10 kilometres from the city centre.
- New Renfe station planned 400 metres away from the project.
- Competitive product, with 3 independent towers and 100% exterior-facing homes.
- 21.15% preferred IRR for Urbanitae investors in this first tranche.
- Senior bank financing expected for approximately €35 million.
- Local developer with experience in new-build developments in the Valencian Community.
- Developer capital contribution, alongside capital from Urbanitae and other investors.
What Return Can I Obtain?
In equity projects, applicable regulations do not allow crowdfunding platforms to communicate a specific estimated return for the project. For this reason, Urbanitae publishes three economic scenarios on each opportunity page – favourable, moderate and adverse – with different assumptions for revenues and costs.
In all scenarios, the calculation formula is the same: forecast revenue minus estimated costs, divided by total equity.
In the favourable scenario for Mirador Sur, total forecast revenue amounts to €55,826,416, while estimated total costs correspond to €47,285,862, based on total equity of €8,300,000.
These forecasts are estimates and may vary depending on economic, commercial, technical or any other circumstances during the life of the project.
Estimated Timeline
The estimated term of the project is 48-54 months.
The main expected milestones are:
- Third quarter of 2026: capital increase and administrative procedures.
- Fourth quarter of 2026: start of commercialisation.
- Fourth quarter of 2027: obtainment of the building permit and capital increase for the second tranche.
- First quarter of 2030: expected completion of construction.
- Fourth quarter of 2030: delivery of homes, liquidation of the company and distribution of profits to investors.
As with any real estate development, timelines may vary, both upwards and downwards, depending on the actual progress of the project, administrative processing, construction works, commercialisation and financing conditions.
Do You Have Questions About the Project?
The opening for investment in Mirador Sur will take place on Monday, 27 July at 16:00 (UTC+2).
You can ask your questions in the webinar on Thursday, 23 July at 12:00 (UTC+2).
You can also write to us at contacto@urbanitae.com or call us on (+34) 911 23 25 22.
