{"id":85730,"date":"2026-05-10T08:45:00","date_gmt":"2026-05-10T06:45:00","guid":{"rendered":"https:\/\/blog.urbanitae.com\/?p=85730"},"modified":"2026-05-10T00:08:41","modified_gmt":"2026-05-09T22:08:41","slug":"roca-negra-repaid-with-a-13-85-irr-in-14-months","status":"publish","type":"post","link":"https:\/\/blog.urbanitae.com\/en\/2026\/05\/10\/roca-negra-repaid-with-a-13-85-irr-in-14-months\/","title":{"rendered":"Roca Negra repaid with a 13.85% IRR in 14 months"},"content":{"rendered":"\n

The Hotel Roca Negra<\/strong> project, financed by Urbanitae investors in March 2025, has been repaid early through bank refinancing. The transaction closed in a shorter timeframe than initially estimated and with a final IRR of 13.85%<\/strong>, in line with the annual return projected at the time of financing.<\/p>\n\n\n\n

With this repayment<\/a>, investors recover 100% of the capital invested together with accrued interest.<\/p>\n\n\n\n

What was the Roca Negra project?<\/h2>\n\n\n\n

Roca Negra was a debt<\/strong> project linked to the Hotel Occidental Roca Negra<\/a><\/strong>, a four-star hotel asset located in Agaete, in the northwest of Gran Canaria.<\/p>\n\n\n\n

The loan was intended to finance the acquisition of the majority of the shares held by minority shareholders in the company owning the hotel, as well as to repay outstanding debt with the Barcel\u00f3 operating group. The hotel, built in 2010 and refurbished and expanded in 2021, has 140 rooms and is operated by Grupo Barcel\u00f3 under the Occidental brand.<\/p>\n\n\n\n

The asset is located on the seafront, on a cliff overlooking the ocean and the island of Tenerife, within the surroundings of the Tamadaba Natural Park. It also features restaurants, a bar, spa, swimming pool, event center, and underground parking.<\/p>\n\n\n\n

A debt transaction with a 14% annual interest rate<\/h2>\n\n\n\n

The project was structured as a fixed-rate loan, with an agreed annual interest rate of 14%<\/strong> and an estimated term of 22 months<\/strong>. Total financing amounted to \u20ac4,955,000<\/strong>, fully provided by Urbanitae investors.<\/p>\n\n\n\n

The transaction also included the possibility of full early repayment at any time, subject to a guaranteed minimum return equivalent to 13 months of interest.<\/p>\n\n\n\n

Early repayment through bank refinancing<\/h2>\n\n\n\n

Following the execution of the loan agreement in early March 2025, the hotel<\/a> continued operating normally throughout the life of the project, without any significant incidents.<\/p>\n\n\n\n

At the beginning of 2026, work began on different exit alternatives, including a potential sale of the asset and a bank refinancing<\/a> process. Ultimately, this refinancing allowed the loan to be repaid ahead of the originally scheduled term.<\/p>\n\n\n\n

The project, which initially had an estimated duration of 22 months<\/strong>, was ultimately repaid in 14 months<\/strong>.<\/p>\n\n\n\n

Final result for investors<\/h2>\n\n\n\n

The project\u2019s final figures are as follows:<\/p>\n\n\n\n