Next Tuesday, 10 November, at 16:00 (UTC+1), the Vivaldi III project will open for investment. This is the third financing tranche to complete the construction of a luxury villa in Sierra Blanca, Marbella.
Construction is already approximately 80% complete, and this new tranche of €1,340,000 will finance the remaining construction costs and general expenses through to project completion.
Tranche C has a term of 13 months, a fixed interest rate of 10% per annum, simple interest, and a total return of 10.89% over the standard term.
- Investment opening: Tuesday, 10 November, at 16:00 (UTC+1).
- Tranche C: €1,340,000.
- Term: 13 months + two possible six-month extensions.
- Interest: 10% per annum, simple interest.
- Total return: 10.89%.
A villa of more than 2,000 m² in Sierra Blanca
The project consists of a newly built detached villa with a total built area of 2,032 m², situated on a 2,025 m² corner plot.
The property will feature seven bedrooms and eight bathrooms, as well as a cinema room, wine cellar, wellness area with spa, gym, indoor parking, garden and swimming pool. Its elevated position provides panoramic sea and mountain views from the different floors.
The property is located in Sierra Blanca, a gated residential development next to Marbella’s Golden Mile, known for its low density, privacy and security.
Construction already 80% complete
One of Vivaldi III’s main distinguishing features is the advanced stage of construction.
The project has a valid building permit, and construction is approximately 80% complete, meaning that financing from this third tranche will be concentrated on the final phase of the works.
Completion is scheduled for the first quarter of 2027, when an Open House event is planned to support the sale of the finished property.
The villa’s target selling price is €25 million.
Third and final loan tranche
Total project financing amounts to €9.99 million, structured in three tranches.
Tranche A was arranged in June 2026 for up to €7.34 million, of which €2.34 million was provided by Urbanitae investors and €5 million by external co-investors.
In July, a second tranche of €1.31 million was granted to support further construction progress.
Now tranche C, of up to €1.34 million, is opening to cover the remaining construction costs and general expenses until the villa is completed.
For its part, the developer has already invested approximately €3.7 million of its own equity in the project.
10% per annum over 13 months
The main terms of tranche C are:
- Amount: €1,340,000.
- Interest: 10% per annum, simple interest.
- Standard term: 13 months.
- Total return: 10.89%.
- Extensions: two possible additional six-month periods, at months 13 and 19.
- Principal and interest repayment: at maturity.
If the second extension is used, the interest rate will increase by 100 basis points, to 11% per annum.
Construction drawdowns will be made against monthly progress certificates previously reviewed by an independent Project Monitor.
Loan security
The loan is secured by a first-ranking mortgage over the villa, with mortgage liability equivalent to 130% of the principal.
Additional security includes:
- First-ranking pledge over the shares in the development company.
- First-ranking pledge over the project’s bank accounts.
- Equity Commitment Letter, under which the developer undertakes to cover any unforeseen cost overruns with its own funds.
- Irrevocable sale mandate, which may be activated in the event of certain defaults or if the loan is not repaid at maturity. The minimum selling price is set at 80% of the latest available valuation.
An LTV below 44%
The total loan has an LTV below 44% based on the latest available valuation of €22.24 million, and approximately 40% relative to the target selling price of €25 million.
LTV measures the amount of debt in relation to the value of an asset. A moderate percentage indicates a substantial margin between the two. In this case, it would allow for a significant reduction in the expected selling price before the debt represented a high proportion of the villa’s value.
This margin may be particularly relevant during the sales process, providing greater flexibility to adjust the asking price if market conditions make it necessary.
Why invest in Vivaldi III?
We believe Vivaldi III combines several important features for a debt investment: an ultra-prime villa in one of Marbella’s most exclusive areas, construction that is already well advanced and a financial structure with moderate leverage.
Key highlights include:
- 10% annual simple interest.
- Total return of 10.89% over the standard 13-month term.
- First-ranking mortgage over the property.
- Construction approximately 80% complete.
- LTV below 44% based on the latest valuation.
- Approximately €3.7 million of the developer’s own equity already invested.
- The developer’s commitment to cover potential cost overruns through an Equity Commitment Letter.
- Planned marketing through direct channels and a selection of agencies specialising in Marbella’s luxury property segment.
Estimated timetable
The standard term of tranche C is 13 months, with two possible six-month extensions.
The main expected milestones are:
- November 2026: granting of tranche C and financing of the final construction phase.
- First quarter of 2027: scheduled construction completion and Open House.
- Fourth quarter of 2027: expected sale of the villa and loan repayment.
As with any real estate project, these timelines may change depending on construction progress and the sales process.
You can consult the project page for full information about the investment, its security, risks and supporting documentation.
Have questions about the project?
Vivaldi III will open for investment on Tuesday, 10 November, at 16:00 (UTC+1).
You can watch the Vivaldi webinar, held for the first tranche, to learn more about the project and its main features.
You can also email us at contacto@urbanitae.com or call us on (+34) 911 23 25 22.
