Vivaldi: debt opportunity for a luxury villa in Sierra Blanca, Marbella

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.