Type of opportunity: Loan
Modality: Development Loan1 with Flex2 for more information check out our blog
Interest: 8%3 in 12 months
Opprtunity return: 6% for 9 months
The second stage of a project of 600.000 euros4 (a total of two sections are foreseen).
We introduce you to Soley Homes II, a new development loan1opportunity that consists of granting a loan to a project developer to finance the construction and costs associated with the development of 6 single-family homes in Finestrat, Alicante.
The promoter has sent us an update on the works and the project. Click here.
THE PROJECT DEVELOPER
SOLEY LUXURY HOMES has more than 20 years of experience in the construction and property development sector. The promoter of this project has already funded and paid back other projects on our platform: Santa Pola (IRR achieved by investors 11.51%), Balcón de Finestrat I (IRR achieved by the investors 8.83%) and Balcón de Finestrat II (IRR achieved by the investors 9.09%).
The opportunity consists on the construction and associated costs for the development of 6 single-family homes in Residencial Castellets, each home will have the following design:
- Living room;
- Bedrooms with bathroom.
- 2 Bedrooms with bathroom;
- Dressing room;
- Large terrace.
Outside you will find a large garden, a covered porch, a parking area and a private swimming pool. High quality materials will be used for the construction, combining practicality and design. The properties are located in an exclusive area with spectacular views of the sea and the mountains.
The A-7 motorway at the Villajoyosa or Benidorm exit is 6 kilometres from the town centre. Alicante is 40 kilometres away and only one hour away is the international airport of El Altet with flights to all of Spain and Europe.
MONITORING OF THE PROJECT
The company PROYECTOS CIGA will monitor this project, permanently controlling the destination of the capital contributed by the investors and delivering this capital to the promoter according to an agreed timetable after delivery of justification of compliance with certifications.
REASONS TO INVEST IN SOLEY HOMES II
- The developer owns the land.
- The development company is a solid company with many years of experience.
- ALL are reserved
- One property delivered and another with immediate delivery.
- Two homes in a very advanced state of construction and with a payment by the buyers of more than 190K€.
- Area with high demand.
- The project present a unique location
Finestrat is a municipality of the Community of Valencia. It is located in the province of Alicante.
- It is one of the most charming towns of Costa Blanca, where the traditional structure of the houses has been respected behind the mole of Puig Campana. It is a beautiful coastal and at the same time mountainous municipality;
- Alicante has always been one of the most attractive places for real estate investment in Spain, the quality of its services and its competitive capacity make this a unique area to invest and enjoy;
- The fantastic climate is another factor that makes the Finestrat beach one of the most famous for water sports. The beach is inside a beautiful bay which contributes to the warm climate that you can benefit in there.
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,.
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 interest 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". The non-financing of one of the phases of the project means the return of the rest of the phases financed, as it is a singular project.