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Smart Urban

THE OPPORTUNITY

Type of opportunity: Loan

Modality: Development Loan1 

Profitability: 8%2 in 12 months


We introduce to you Smart Urban, a new development loan1 project, which consists of financing the construction costs related to the refurbishment of a penthouse in the center of Barcelona.


THE PROJECT DEVELOPER

The project developer is INVERNOVA TRADE, a company with extensive experience in the purchase of properties by auction, for their refurbishment and subsequent sale.  This developer has already financed a project on the platform, La Riera, returning €215,000 granted with an IRR of 10.40%.


THE PROJECT

The opportunity foresees financing the construction costs related to the segregation of a penthouse in the center of Barcelona.

After the work, the penthouse will be about 100 meters built in one of the best areas of Barcelona and will be offered for sale at 700.000€.

The finished property will consist of: 

3 bedrooms;

2 bathrooms;

living-dining room 

- kitchen,

- very spacious living room with 36, 28 m2.

The project is located in one of the best areas of Barcelona with all the necessary services. schools, supermarkets, restaurants and playgrounds.



FIRST RANK MORTGAGE 

The property to be taken as collateral  is a house at Calle VILADOMAT, No. 319, Floor penthouse, 2nd Door.

 

According to the valuation certificate issued by Colectivo de Arquitectos Tasadores SA (CATSA) on 27/01/2021, the current MORTGAGE/APPRAISAL VALUE of the described property is 360.972,33 Euros and an appraisal of the finished property of 501,276.58. View document.

So the Loan To Value is 36% (Loan amount €130,000 / Current appraised value €360,927.33). Consequently, the appraisal ratio of the mortgaged property to the loan is 277% (current appraised value €360,972.33/loan amount €130,000).


THE COLLATERAL AGENT

The chosen collateral agent is Bondholders, a professional firm with over 25 years of experience providing independent corporate trust and loan agency services. Bondholders is not affiliated with any financial services group. They currently meet the requirements of several international jurisdictions, including Spain, Portugal, Italy, England or New York.

They have extensive experience in financial sectors (Bankia, Santander, Deutsche Bank) and in other sectors as well (FC Barcelona, El Corte Inglés, Vista Alegre, TAP Portugal, Telefónica).


MONITORING OF THE PROJECT

PROYECTOS CIGA will carry out the monitoring of this type of projects so that there will be a permanent control of all the capital contributed by investors.


REASONS TO INVEST IN SMART URBAN

- Project with a first rank mortgage: it is the right granted to investors over a property so that in the event that the developer fails to comply with the payment commitment or fails to pay the debt, the investors can execute the first rank mortgage to recover their money. The Spanish regulation about crowdfunding prevents them from taking guarantees of any kind on behalf of investors. For this reason, Housers will use a Collateral Agent in its projects with first rank mortgage. The chosen Collateral Agent is Bondholders;

- The property is located in the center of the city of Barcelona: in one of the best areas!

The construction work has already started;

Area with a lot of demand;

The scoring of this opportunity is AA.  For more information click here.



LOCATION

The project is located in Barcelona, the cosmopolitan capital of the Catalonia region, known for its art and architecture.

Highlights of the location:

- Situated on the shores of the Mediterranean, Barcelona is a cosmopolitan city with great cultural, commercial, financial and touristic importance;

- Barcelona has become one of the most visited tourist destinations in Spain, knowing how to please the vast majority of tourists: with one of the oldest histories in Europe;

- It has places of great interest: the Joan Miró Foundation or the Picasso Museum, the well-known Sagrada Familia, La Pedrera or the amazing Park Güell, but where you can really appreciate the art that surrounds the city is walking through its streets full of history and charm.



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Risks 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 1 project in the platform (Riera project, successfully funded) This loan of 130,000€ is the only phase of this project,  which does not result in an additional concentration risk. The project developer is responsible for the information it has provided to the participatory finance platform for the project on the website. The promoter has a share capital as of 31/12/2020 of 3,000€ and equity at 30/09/2020 of 54,597.32€. A real estate mortgage right is established in favor of Bondholders S.L. Due to the limited equity of the company, the Housers commission is financed within the project. In this way, it is the investor who supports the Housers commission. Both the funding objective and 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. This 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 project presents a mortgage guarantee.

2) It is the total return on investment. It takes into account the total term and the annual fixed interest agreed by the promoter. See loan information for more info. 

Image gallery


Location


Floorplan


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.
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Barcelona | 1 penthouse
ES
Phase:
Finished
Funded capital:
130,000 €
Financing goal:
130,000 €
Investors:
248
Term:
12 months
Type:
Development loan
Estimated IRR:
-
Final IRR:
-
Visible only to investors in the opportunity.