PROJECT SUMMARY
PROJECT
We present Altea, a new Development Loan opportunity that consists of financing the associated costs for the
construction of a building of 6 homes,8 parking spaces and 8 box rooms in Altea, Spain.
The total built area of the
development is 818.55 m2 and is distributed as follows:
Ground floor:
First floor:
Second floor: 1 dwelling: 2 bedrooms, 2 bathrooms, living-dining room, kitchen and large terrace.
Building located in the old town of Altea, 5 minutes from the beach. Next to the Parc de L'AIGUA and with all the necessary services: schools, universities, supermarkets, bars, restaurants, museums, churches, etc.
This loan of €3000,000
corresponds to the first tranche of a project of €600,000 (3 tranches are
foreseen in total).
FIRST RANK MORTGAGE
The property to be taken as mortgage guarantee is the property at Calle Costera Pont del Montcau Nº 27, Altea (Alicante).
According to the valuation certificate carried out by ARCO VALORACIONES SA on 18/03/2021, the current MORTGAGE VALUE/APPRAISAL of the property described, amounts to the sum of 470. 935,89 Euros and a valuation of the finished property of 1.312.998,31.
So the LTV (Loan To Value) is 63.70%, (Loan amount 300.000€ / Current appraised value 470.935,89 €).
THE COLLATERAL AGENT
The chosen Collateral Agent is
Bondholders, a 25+-year-old professional firm providing independent corporate
trust and loan agency services. Bondholders are 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 various
sectors (FC Barcelona, El Corte Inglés, Vista Alegre, TAP Portugal,
Telefónica...).
DEVELOPER
The developer of the project is ALTEA I LAIGUA INMOBILIARIA S.L, a group of professionals with experience in different areas of the sector and with more than 45 years dedicated to the development of the Costa Blanca. They create innovative projects, adapting to the needs of the client. The developer has a share capital of 31/12/2020 of 4,000€ and equity at 30/09/2020 of 179,973.62€.
This is the first project of
the developer in Housers. The developer may apply for other loans in the future
through the platform to obtain financing 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.
MONITORING OF THE PROJECT
The monitoring company PROYECTOS
CIGA will carry out the monitoring of this project, having permanent
control of the destination of the capital provided by the investors and
delivering this capital to the developer according to an agreed schedule after
delivery of justification of compliance with certifications. To this end,
the developer and the monitoring company will open a escrow account where
the funds financed by the investors will be transferred in such a way that each
provision to the developer must be justified to the monitoring company and
therefore the full amount of the loan will not be delivered to the developer at
once.
LOCATION
The project is located in Altea, a municipality in the province of Alicante in the Marina Alta region, between Benidorm and Calpe.
Highlights of the location:
PROJECT FEE
Housers will not charge any
fee to the investor for this opportunity. The developer 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 funding target
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 developer, this commission is
deducted from it in favour of Housers. It does not affect the final
profitability obtained by the investors, since the developer 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 authorization or
supervision by the Comisión Nacional del Mercado de Valores (CNMV), the Bank of
Spain or any other regulator, national or foreign. The information provided by
the developer has not been reviewed by the CNMV and does not constitute a
prospectus approved by the CNMV.
The developer of the project
is responsible to investors for the information it has provided to the
crowdfunding platform for publication within the project on the website. 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.
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, following 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.
