FLEX CONTRACT - New type of contract that has a duration of 12 months, that can be expanded up to 6 more months. For more information check out our blog.
Type of opportunity: Loan
Modality: Development Loan1 Flex Contract2
Profitability: 9%3 in 12 months
This funding corresponds to the first phase of the project which aims to collect a total of 600,000€4.
We introduce you to Genova Porto, a new Development Loan1 opportunity with Flex Contract2, which consists of granting a loan to a developer to finance the renovation and sale of an apartment in the city of Genoa, Italy.
REASONS TO INVEST IN GENOVA PORTO
- The promoter is an entrepreneur with a major financial holding company;
- Strategic location close to many attractions (university, Palazzo dei Rolli, main railway station);
The project is located in Genoa, a port capital city in the northwest of the Italian region of Liguria, which is the sixth-largest Italian municipality by population.
Highlights of the location:
- The city is part of the Milan-Turin-Genoa industrial triangle and it is one of the most important economic centers in Italy;
- The historical center of Genoa is one of the most interesting places. You will find the Piazza de Ferrari, where is situated the Opera, the Ducal Palace as well as the house where Christopher Columbus was born;
- The Genoese economy is driven by the port, which is one of the most important in Italy and Europe.
- Part of its historical center is a UNESCO World Heritage Site since 2006, and in 2004 it was the European Capital of Culture.
It is a real estate financing project that firstly foresees the restoration of an apartment in one of the most important districts of Genoa to enhance its artistic visibility and the centrality of the city's services, and secondly the sale of the apartment.
The restoration of the property includes the conversion of the current apartment into a cozy and welcoming home, suitable for families to live in comfort. The foreseen construction works will affect the floor, walls and services, with special attention to home automation elements and innovation in plumbing and electrical systems.
THE PROJECT DEVELOPER
The promoter is GPA S.R.L. a company founded in Genoa that is responsible for the sale and renovation of properties in the Liguria area. The team, passionate about Genoese architecture and design, finds new spaces and elements to propose to potential buyers combining elements of modernity with classical style.
Additionally, ARGOS will monitor these types of projects, in order to guarantee a permanent control regarding the allocation of the capital provided by the investors.
Risk information: Housers is neither a credit institution nor an investment services firm. Investment in projects published by HOUSERS is not covered by any investment fund. This project has not been supervised by the CNMV nor by the Bank of Spain or any other regulator, Spanish or foreign. The information provided by the developer has not been checked by the CNMV nor does it constitute a prospectus approved by the CNMV. Housers does not provide financial advice that nothing on this website should be construed as such. The investment in this project involves the following risks: risk of total or partial loss of invested capital, the risk of not obtaining the expected monetary return and the risk of illiquidity for recover the investment. The project developer accumulates 0 projects in the platform. The project developer is responsible for the information provided to the participatory finance platform for publishing on the website. The developer has a share capital at 31/01/2020 of €2,500 and equity at 31/01/2020 of €2,499 so its responsibility in the project is limited to this amount. Due to the limited own resources of the company, the Housers' commission is financed within the project. Therefore, it is the investor who assumes the Housers' commission. The company Redelfi S.R.L. is established as additional guarantees, with its equity at 31/12/2019 of €782,883, and the company San Luca Immobiliare S.R.L., with its equity at 31/12/2019 of €9,986.04. The maximum term to invest in this opportunity may be extended by an additional 25% to the initial term, in accordance with the Law for the Promotion of Business Financing. Likewise, HOUSERS may consider the financing of this opportunity/project closed when it has been 90% financed. These options provided to Housers by the legislation will be used when the typology and the characteristics of the project suggest it, so that the financing can be lower than the required and the deadline is not affected.
1) Development Loan: 12-month fixed rate loan to the real estate developer where interest is distributed monthly and the principal is amortized at the end of the project. The interest is not guaranteed, but the promoter presents additional guarantees.
2) Flex Contract: The Promoting Company may activate an extension of a single duration of 6 months to the expiration date of the contract, communicating it to Housers at least one month in advance. This extension will be accompanied by an increase on the interest rate agreed on the return of capital, resulting in this project, an annual interest of 9.5% during the extension. This information is found in more detail in Article 3.3.1 of the Loan Agreement.
3) It is the total return on investment. It takes into account the total term of 12 months and the annual fixed interest agreed by the promoter. For more details see the Promoter's Report.
4) According to article 68.2 of Law 5/2015 for the Promotion of business financing, "The maximum amount of fundraising per participatory financing project through each of the participatory financing platforms may not exceed 2,000. 000 euros, being possible the realization of successive rounds of financing that do not exceed the aforementioned amount in annual calculation. When the projects are directed exclusively to accredited investors, the previous maximum amount may reach 5,000,000 euros".
In Spain, Housers is a crowdfundig platform registered next to CNMV (Spanish Regulator) with register number 20. Housers is a platform that facilitates access to loans related to real estate transactions promoted by third-party companies, previously analyzed and validated. Housers does not offer financial advice and none of the proposed activities should be considered as such. The analyzes shown in these pages are general information and do not in any way constitute specific advice. The projects illustrated are not subject to the supervision of any national or international financial authority or regulator. The transactions presented are forecasts only and as such, they may be subject to change. Investing through Housers involves risks, including illiquidity, loss of investment, and it should only be done as part of a diversified portfolio. Your capital is at risk.
Annual Yield9.00 %
TOTAL YIELD9.00 %
Rental income paid
May 18, 2020
April 3, 2020
March 3, 2020