We are starting 2023 in the best possible way, with a new investment opportunity. It is also our first rental income project, which will open for investment next Thursday, 12 January, at 16:00. The Supermercado Getafe project involves acquiring a retail property leased to the Dia supermarket chain in Getafe (Madrid). The premises comprise three separately registered properties on the ground floor of a building, with a gross lettable area (GLA) of 407 m² at street level.
With a population of nearly 185,000, Getafe is one of the largest cities in the Community of Madrid. The property is located in the shopping area of the El Bercial neighbourhood, specifically at Avenida de Portugal, 7. This newly developed residential area already offers a wide range of services and leisure facilities. It is also situated in a city that has become one of the region’s most important industrial hubs. The property would be the only sizeable supermarket in the centre of the neighbourhood.
Managed by Rubica Real Estate
The asset manager for this investment opportunity is Rubica Real Estate, a real estate company specialising in commercial properties, founded in 2015. Since its establishment, the company has participated in more than 190 real estate transactions, primarily involving retail premises, and its management team has more than 50 years of combined experience.
Rental income project (equity)
The transaction is based on a rental income project structured through a capital increase, whereby Urbanitae investors will contribute capital to the transaction’s special purpose vehicle (SPV). This SPV does not plan to use bank financing to acquire the property.
Urbanitae investors will contribute €630,000, the project’s total fundraising target, to the SPV Proptech Servicios Inversión Dos S. L. These funds will be used for the acquisition of the property and to cover the expenses associated with the investment.
In accordance with the criteria established by the Spanish National Securities Market Commission (CNMV), equity projects must publish two additional scenarios showing potential variations in the business plan, alongside the base (favourable) scenario presented by the developer and reviewed by Urbanitae. These can be found on the project page. Urbanitae has internally verified the developer’s business plan and cross-checked it with an independent valuer (Tecnitasa) and a specialist asset management firm (Westfalia Gestión).
Five years, with an exit opportunity after three
Based on the 20-year lease signed by Dia, the project is expected to generate an average annual dividend of 5%. It also has an estimated investment term of five years, with an opportunity to exit in year three. The supermarket chain, which is already paying monthly rent, is currently refurbishing the premises, so the store is expected to be operational by March.
The investment timetable provides for dividend payments every three months, starting in the third month of the investment. In the first quarter of 2026, the opportunity to sell the property will open if market conditions are favourable. The exit, liquidation of the SPV and distribution of the remaining profits are expected to take place in the first quarter of 2028.
If you would like more details about this opportunity, please visit our website. In addition, on Monday, 9 January, at 17:00, we will hold the webinar “Urbanitae Up Close: Supermercado Getafe” with Pablo Kindelan, Associate Director at Rubica Real Estate. You can register here. You can also send any questions to contacto@urbanitae.com or call +34 911 23 25 22.
