New project: 13% annual debt investment in branded residences on the south coast of France

On Tuesday, April 21 at 4:00 pm (UTC+2), we will open Rivage de Thau project for investment, a new real estate debt opportunity in Marseillan, in southern France.

📅 Investment opening: Tuesday, April 21 at 4:00 pm (UTC+2)
🎙 Project webinar: Monday, April 20 at 12:00 pm (UTC+2)

During the webinar, we will go through all the project details and answer investors’ questions.

A 133-unit branded residences project in Marseillan

The Rivage de Thau project involves granting a loan to partially finance the acquisition of land on which a development will be built, comprising:

• 133 branded residence apartments, ranging from 1 to 4 bedrooms
• 12 ground-floor retail units

The development is part of a seafront residential complex and will be operated by a well-known international hospitality operator, under the branded residences model, which combines private homes with high-end hotel services and standards.

The project is structured across 10 plots, with development planned in 8 buildings and 4 phases. The first phase includes 26 units, of which 8 have already been pre-sold, representing 30% pre-sales in that phase and 6% of the project’s total expected revenues.

In addition, the project already has a valid building permit, a key milestone for advancing the development.

Marseillan, between the Mediterranean and the Thau lagoon

Marseillan is a coastal town in southern France, located between the Mediterranean Sea and the Thau lagoon, in an area with strong tourism and residential appeal.

Its proximity to established cities such as Montpellier and Béziers, together with its Mediterranean climate and growing demand for second homes, make it a particularly attractive location for premium residential developments.

The Occitanie region continues to show sustained demand from both domestic and international buyers, drawn by quality of life, natural surroundings and appreciation potential.

Project sponsor

The project is promoted by Propriétés & Co, a family-owned real estate group founded and led by Miguel Espada, with over 20 years of experience in the sector.

The company specialises in high-end resorts and luxury residential developments in southern Europe and the Caribbean. Over its track record, it has delivered projects with a total value exceeding €500 million (GDV) and currently has a pipeline of more than €1.5 billion.

Rivage de Thau is also Urbanitae’s second project with Propriétés & Co and the second debt transaction in France, as part of the platform’s geographic diversification and international expansion strategy.

Investment structure

The investment is structured as a fixed-rate loan granted to the company PORT MARSEILLAN II SAS.

Key terms include:

• Amount: €5,000,000
• Interest rate: 13% simple annual interest
• Term: 24 months
• Interest and principal repayment: at maturity

Early repayment is allowed at any time, with a minimum return equivalent to 8 months of interest.

In addition, project management and sales fees are subordinated to the repayment of both principal and interest.

Loan guarantees

The project benefits from a particularly robust security package for this type of transaction:

• First-ranking mortgage over the plots where the development will take place
• Priority allocation of 17% of sales proceeds via irrevocable notarial payment orders
• Notarial personal guarantee from the sponsor for an amount of €1 million
• French-law security trust over the borrower’s shares and receivables
• First-demand guarantee from the sponsor’s parent company

These guarantees enhance repayment visibility and ensure strong alignment between the sponsor and the transaction.

An exit strategy supported by the French VEFA system

One of the most distinctive features of this transaction is its exit strategy.

In France, under the VEFA system, buyers pay for their properties progressively as construction advances. In this project, 17% of the sale price of each unit is allocated on a priority basis to repay the loan, through irrevocable notarial payment orders.

The project currently has 8 pre-sold units. According to the business plan, the additional sale of 34 units would be sufficient to cover full repayment of principal and accrued interest over the 24-month term.

Unlike other transactions, the investor exit here does not depend on bank financing, but rather on the pace of sales and the cash flow structure of the French development market.