PROJECT
We introduce you to Edificio Colón, a new development loan opportunity to finance the construction costs to complete the construction of 6 homes, 9 storage rooms and 1 commercial unit in Crevillent, Alicante.
The total built area of the development is 541.18 m2 and is distributed as follows:
The project is located in the old town with all the necessary services: schools, supermarkets, restaurants and playgrounds. The municipality is connected by the N-340 and N-325, which connects to the A7 motorway, the Mediterranean motorway.
This loan of 285.000€ is the first and only section of the project.
THE PROJECT DEVELOPER
The developer of the project is ENFOQUE EMPRESARIAL SL, a company with extensive experience in property development and building construction, both in the Valencian Community and in the Autonomous Community of Murcia. The promoter has a share capital at 31/12/2020 of 3.006€ and Equity at 30/09/2020 of 11.270,02€.
This is the first project of the promoter in Housers. The developer may apply in the future for other loans through the platform to obtain funding for the realization of other projects, within the legal limits and provided that their financial situation allows it. Thus, the degree of future leverage of the company may therefore be higher.
FIRST RANK MORTGAGE
The promoter gives as a mortgage guarantee the same property located at Calle Carretes, nº 39, Crevillent, Alicante.
The LTV (Loan To Value) measures the percentage of debt over the value of the property. In this project the LTV of the operation is 50.09% as the valuation of the property delivered as guarantee is 542.849 euros according to the valuation certificate issued by ATValor on 27/03/2021. The valuation of the finished property would be 934,088.32 euros, therefore the projected LTV is 31%.
The guarantee provided by the developer is a first rank mortgage that will be registered in the corresponding land registry and will block any transaction that the developer may attempt to carry out with the property after the loans have been obtained, thus safeguarding the interests of the project's investors with total security. This guarantee can be executed in the event of non-payment by the developer. This mortgage guarantee is much more robust as a guarantee than a mortgage guarantee promise, than a pledge of shares, than a guarantee, than a public elevation of the debt or than a personal guarantee of the developer.
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. For this purpose, the promoter and the monitoring company will open a escrow account where the funds financed by the investors will be transferred. In this way, each delivery to the promoter has to be justified to the monitoring company and the full amount of the loan will not be delivered to the promoter at once.
LOCATION
The project is located in Crevillent, a municipality in the Valencian Community, in the province of Alicante.
Highlights of the location:
PROJECT SUMMARY
PROJECT FEE
Housers will not charge any fee to the investor for this opportunity. The promoter will be charged a fee that is determined based on a % of the funds raised for the project, provided that the project is successfully closed, i.e. that the financing objective published on the platform is reached. In case it is not successfully closed, Housers will not charge this fee. Once the campaign is finished and as a previous step to the delivery of the money to the promoter, this commission is deducted from it in favour of Housers. It does not affect the final profitability obtained by the investors, since the Promoter is the one who assumes its cost. In this opportunity Housers' commission is 8% + VAT being the commission financed within the opportunity.
WARNINGS
Housers is neither a credit institution nor an investment services company. It is not a member of any investment guarantee fund or deposit guarantee fund. Therefore, the invested capital is not covered by these funds.
Housers is neither a credit institution nor an investment services company nor does it provide financial advice, so nothing on this website should be interpreted as such. The information on this page is for general information purposes only and does not constitute specific advice.
The participatory financing projects published on the website are not subject to authorisation or supervision by the Comisión Nacional del Mercado de Valores or the Bank of Spain or any other national or foreign regulator. The information provided by the promoter has not been reviewed by the CNMV and does not constitute a prospectus approved by the CNMV.
The project promoter is responsible to investors for the information it has provided to the crowdfunding platform for publication within the project on the website.
Both the financing objective and the maximum term to invest in this opportunity may be extended by an additional 25% to the initially planned term, in accordance with Law 5/2015, of 27 April, on the promotion of business financing. Likewise, Housers will be able to close the financing of this opportunity/project when it has been 90% financed. These possibilities that the legislation offers to the platform will be used when the typology and characteristics of the project make it advisable so that the execution deadlines are not prejudiced. You can find more information here.
RISKS
Investment in this project involves the risk of total or partial loss of the invested capital, the risk of not obtaining the expected cash return and the risk of illiquidity to recover the investment.
The invested capital is not guaranteed by the investment guarantee fund or the deposit guarantee fund.
Investing in real estate must be done as part of a diversified portfolio. Investing in Housers is intended for people with sufficient knowledge to understand the risks of investing in start-ups.
