FLEX CONTRACT - Type of contract that has a duration of x months, and can be expanded up to 6 more months. For more information check out our blog.
*This promotion is offered by the promoter of the project MichelangeloIII and will be paid to the investors by the mentioned promoter.
Win up to +4% yields offered, offered by the promoter:
Type of opportunity: Loan
Modality: Development Loan1 with Flex2
Profitability: 8,02%3 in 11 months (8.75%4 in 12 months)
The third stage of a project of 600.000 euros5 (a total of three phases are foreseen). The project will have a total duration of 18 months.
We introduce you to Michelangelo III, the third of an Italian development loan opportunity that consists of granting a loan to a project developer for the associated costs and construction of 35 appartments and 35 garages in the city of Rimini, Italy.
REASONS TO INVEST IN MICHELANGELO II
- The land has been auctioned at a price of -50% of the market value;
- The developer already has the building licence;
- The flats will be sold at an average price of -15% of the market price;
- IRR: 26%;
- ROI: 53%;
The project is located in Rimini, a famous tourist town on the Adriatic coast.
- Rimini is well known all over Europe thanks to its 15 km of beautiful beaches, the large number of hotels, bars and restaurants;
- It is one of the fun and summer capitals of the Riviera Romagnola and every year is chosen by many Italian and foreign tourists;
- It has a very interesting historical and cultural level: the Arch of Augustus, the Tiberius Bridge, the Malatestian Temple, built by the Franciscans and the main Catholic temple of the city, the Sismondo Castle, and the Roman Amphitheatre. Rimini is also the city of Fellini the famous director of La dolce vita, Amarcord and much more.
The opportunity is to finance the purchase of land and associated costs for the construction of a 6-floor building with 35 flats of one, two or three bedrooms. The total built area will be 3,368 m2.
The land acquired at the auction is located in one of the most demanded areas of Rimini, called Torre Pedrera. The land is located only 600 metres from the beach, 5 minutes from the motorway exit and 10 minutes from the city centre. The proximity to the beach and to the motorway makes the flats an excellent investment also as a second home.
The flats will be sold at a very attractive price.
The promoter of the project has sent us a document with information, and update on the status of the works. To consult this document, click HERE
THE PROJECT DEVELOPER
The real estate developer is Case da Sogno S.R.L, a real estate agency in Rimini with many years of experience in the construction and sale of bio homes, with respect for the environment and high quality.
In addition, it is important to know that ARGOS will carry out the monitoring of this type of projects so that there will be a permanent control of the destination of all the capital contributed by investors.
*MICHELANGELOPLUSII: Legal Terms.
1) Development Loan: 11-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 9.75% during the extension. This information is found in more detail in Article 3.3.1 of the Loan Agreement.
3) It is the total return on investment. It takes into account the total term of 11 months and the annual fixed interest agreed by the promoter. For more details see the Promoter's Report.
4) It is the annual return on investment. It takes into account the 12 month term and the annual fixed interest agreed by the promoter. For more details see the Promoter's Report.
5) 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.