{"id":30351,"date":"2023-11-09T09:58:29","date_gmt":"2023-11-09T08:58:29","guid":{"rendered":"https:\/\/blog.urbanitae.com\/?p=30351"},"modified":"2024-02-11T21:43:47","modified_gmt":"2024-02-11T20:43:47","slug":"urbanitaes-success-in-tarragona-with-construverty","status":"publish","type":"post","link":"https:\/\/blog.urbanitae.com\/en\/2023\/11\/09\/urbanitaes-success-in-tarragona-with-construverty\/","title":{"rendered":"Urbanitae’s success in Tarragona with Construverty"},"content":{"rendered":"\n

We continue adding new projects to our list of success stories. This time it’s about Cunit<\/a>, a residential asset that has been a success and is located in Tarragona, close to the beach (Cunit and Les Gavines) and the sports center Club Sports Tennis & Padel Cunit and the Les Salines industrial estate.<\/p>\n\n\n\n

The operation was launched in December 2021 and involved the development of a promotion of five attached single-family homes with 2 and 3 bedrooms, with average areas of 123 m2 and an average price of 246,000 euros.<\/p>\n\n\n\n

Leading the project is Construverty<\/a>, a company founded in 2012 with extensive experience in Tarragona and Barcelona, making its debut as a promoter for Urbanitae.<\/p>\n\n\n\n

The collaboration between the promoter and Urbanitae investors took the form of a fixed-rate loan<\/strong> to finance the construction of the five homes. Our investors contributed 600,000 euros<\/strong>. The remaining capital needed came from equity and amounts paid by homebuyers. At that time, four out of the five available units were reserved, providing sufficient repayment capacity to meet the amount owed.<\/p>\n\n\n\n

The funding brought together 514 investors<\/strong> who participated through our prefunding system, with a maximum ticket of 6,000 euros per investor. This allowed us to expand the possibilities of joining this project, which was expected to have high demand.<\/p>\n\n\n\n

Improved IRR and 15.1% final return <\/h2>\n\n\n\n

Once the project was closed, and capital and interest were returned to our investors, we can confirm that the operation’s results exceeded the initial expectations.<\/p>\n\n\n\n

On one hand, the estimated execution period was 15 months, but the work was ultimately completed in 13 months. Also, the return for Urbanitae investors increased from the estimated 15% to 15.1%. This success translated into a two-point improvement in the expected IRR, starting from 12% and reaching 14%.<\/p>\n\n\n\n

Keys to success <\/h2>\n\n\n\n

In addition to the initial level of presales, the project had other factors that made it attractive for investment.<\/p>\n\n\n\n