Next Tuesday, 6 October at 12:00 h (UTC+2), we will open the Imaginalia project for investment, a new debt opportunity intended to partially finance the construction of 236 parking spaces and 52 storage rooms in Albacete.
The loan has an amount of 1,315,000 euros, an initial term of 18 months and a fixed interest rate of 10% simple annual interest. It also includes a minimum return equivalent to eight months of interest.
- Opening for investment: Tuesday, 6 October at 12:00 h (UTC+2)
- Project webinar: Tuesday, 6 October at 10:00 h (UTC+2)
- Ticket: 1,315,000 euros
- Term: 18 months, with two possible 6-month extensions
- Interest: 10% simple annual interest
236 parking spaces and 52 storage rooms in Imaginalia
The project consists of fitting out two assets located on the ground floors of two residential buildings in the Imaginalia area of Albacete.
In total, 236 parking spaces and 52 storage rooms will be developed, distributed identically between both properties: 118 parking spaces and 26 storage rooms in each one.
The assets have a combined built area of 5,996 m² and are located on Calle Oscar Wilde, within one of the city’s main residential expansion areas.
Imaginalia combines residential, commercial and service uses. It is located close to the centre of Albacete, the Campollano Business Park and the Imaginalia shopping centre, as well as having good connections to the A-32.
A short construction period
The developer acquired the assets in July 2026 with its own funds and has already submitted the licence application.
Works are expected to start in December 2026 and be completed during the first quarter of 2027. The execution period is relatively short, between two and four months, as the structure of the assets is already complete and the works are mainly focused on fitting them out and finishing them.
Commercialisation will begin once works have started.
The project is mainly aimed at residents in the area and buyers of the new residential developments nearby who need a parking space or storage room. It may also be attractive to small investors interested in low-ticket assets intended for rental.
The manager: Elite Capital Prime
The project manager is Elite Capital Prime, a real estate company based in Albacete specialising in the acquisition, refurbishment and transformation of assets for subsequent sale.
Its partners have more than 30 years of combined experience in banking and real estate and have completed more than 25 transactions.
The developer acquired the asset for 1,162,200 euros. After the partial recapitalisation included in the transaction, it will retain approximately 612,200 euros of its own capital invested and will also cover the project’s general costs and any potential unforeseen expenses with its own funds.
10% per annum and amortisation from month 12
The loan is structured in a single tranche of 1,315,000 euros.
Its main terms are:
- Fixed interest: 10% simple annual interest.
- Initial term: 18 months.
- Extensions: two possible additional six-month periods, in months 18 and 24.
- Minimum return: eight months of interest.
- Amortisation: may partially begin from month 12.
The exit and repayment of the loan will take place through the sale of the parking spaces and storage rooms.
Loan guarantees
The financing includes a first-ranking mortgage over the assets, with mortgage liability of 140% of the principal.
It also includes several additional guarantees:
- Cash sweep of 100% of the net income from sales, meaning that all net cash generated by the commercialisation of the parking spaces and storage rooms will be used to repay the loan.
- Corporate guarantee from the borrowing company.
- Pledge of the collection rights of another project by the manager in Albacete, from which a net cash flow close to 1.2 million euros is estimated.
- Equity Commitment Letter, which requires the developer to contribute additional own funds if needed to complete the project.
The transaction presents an LTV of 57% over the current value of the two assets and a gross LTC of 62%. LTV compares the loan with the value of the asset, while LTC measures what part of the project’s total cost is financed with debt. In this case, an LTC of 62% means that the remaining 38% of the cost is covered with own funds or other contributions other than Urbanitae’s loan.
Why invest in Imaginalia
We believe that Imaginalia presents a straightforward proposal: everyday-use assets, located in a growing residential area and with a short construction period ahead. This is combined with a debt structure backed by a first-ranking mortgage and several additional guarantees.
The main highlights include:
- 10% simple annual interest.
- Minimum return of eight months of interest.
- First-ranking mortgage over the assets.
- 100% cash sweep of net income from sales.
- Works expected to last only 2-4 months.
- Manager with experience in asset transformation and commercialisation.
- Demand validated through independent commercial due diligence.
Estimated timeline
The expected initial term is 18 months, with two possible six-month extensions.
The main milestones are:
- October 2026: loan granting.
- December 2026: start of works and commercialisation.
- First quarter of 2027: expected completion of works.
- From the fourth quarter of 2027: possible loan amortisation from month 12.
You can consult all the information about the transaction, its risks, guarantees and associated documentation on the project page.
Do you have questions about the project?
You can ask your questions in the webinar on Tuesday, 6 October at 10:00 h (UTC+2). Register here.
The opening for investment of Imaginalia will be on Tuesday, 6 October at 12:00 h (UTC+2).
You can also write to us at contacto@urbanitae.com or call us on (+34) 911 23 25 22.
