We present Puerta de Oriente, a new Development Loan opportunity that consists of financing the associated costs for the construction of a building of 14 homes plus parking spaces in Almeria.
The development consists of 8 blocks:
The total built area of the development is 1,095.66 m2 and is distributed as follows:
Ground floor: 6 dwellings: 4 dwellings: 2 bedrooms, 2 bathrooms, living-dining room, kitchen and garden. 1 dwelling: 1 bedroom, 1 bathroom, living-dining room, kitchen and garden. 1 dwelling: 3 bedrooms, 2 bathrooms, living-dining room, kitchen and garden.
First floor: 5 flats: 2 bedrooms, 2 bathrooms, living-dining room, kitchen and terrace. 2 of them with large terraces of 60 m2.
Second floor: 3 flats: 2 bedrooms, 2 bathrooms, living-dining room, kitchen and large terraces.
Award-winning development for its architecture and design
The developer Caporchanes, Grupo Pormotor, was awarded in Miami by the Developers & Builders Alliance as one of the best developers of the year with the "Award of Merit for Outstanding Performance and Unparalleled Leadership", i.e. the merit award for outstanding performance and leadership for its "Puerta de Oriente" development. This award was presented during the annual Community Advancement Awards convention, which brings together the most outstanding projects and professionals in the real estate industry worldwide.
This loan of €250,000 corresponds to the first tranche of a project of €1,000,000 (4 tranches are foreseen in total).
FIRST RANK MORTGAGE
The property to be taken as a mortgage guarantee is the property in Parcel 2.5. Urbanización Puerta de Oriente, block 5, in PUERTO REY in the municipality of Vera, province of ALMERIA (04621).
According to the valuation certificate issued by TINSA on 22/02/2021, the current MORTGAGE VALUE/APPRAISATION of the property described amounts to the sum of 673,097.02 Euros (SIX HUNDRED SEVENTY-THREE THOUSAND NINETY-SEVEN AND TWO CENTS) and a valuation of the finished property of 1,876,634.35 (ONE MILLION EIGHT HUNDRED SEVENTY-SIX THOUSAND SIX HUNDRED THIRTY-FOUR AND FOUR HUNDRED AND THIRTY-FIVE CENTS).
Therefore, the LTV (Loan To Value) is 37.14%, (Loan amount €250,000 / Current appraised value €673,097.02).
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...).
The developer of the project is PROMOTORA CAPORCHANES S.L., a company with extensive experience in property development and building construction. The developer has a share capital of 31/12/2020 of 3.600€ and equity at 30/09/2020 of 9.176.412,49€.
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.
The project is in the coastal town of Vera in the province of Almería.
Highlights of the location:
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.
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.
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 (see here). 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.
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.