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Residencial Borbón Norte II

PROJECT SUMMARY

  • Purpose: the loan will finance the costs associated with the development the construction of a development of eleven dwellings.
  • Type of opportunity: loan.
  • Type: Fixed rate.
  • Scoring:
  • Guarantee: First-rank mortgage registered in the land registry.
  • Loan To Value (LTV): 67,34%.
  • Nominal annual interest rate: 8%.
  • Maturity: 19 months.
  • Opportunity profitability: 12,66%.
  • Type of principal repayment: at maturity.
  • Interest payment: quarterly.
  • Minimum investment: €100.
  • Construction progress: The construction status is currently 60.74%  completed with 100% of the structure finished, with the developer having cancelled the previous mortgage charge and the only charge on the property being the one handed over to the investors in the project.
  • Reservations: 7 of the 11 dwellings are already reserved.


PROJECT

After financing the first phase of the project last January, we now present to you Residencial Borbón Norte II, the second phase of this fixed-rate development with first mortgage guarantee, which consists of financing the cancellation of the previous mortgage charge on the land (already cancelled), as well as the construction costs and other associated expenses for the real estate development of a development of 11 homes in Churra, Murcia (Spain).

11 flats of 2, 3 and 4 bedrooms with terrace, garage, and storage room, distributed on the ground floor and four upper floors.


  • Ground floor: 2 flats with 2 bedrooms, 2 bathrooms, living-dining room, and kitchen.
  • First floor: 3 flats with 3 bedrooms, 2 bathrooms, living-dining room, kitchen, and terrace.
  • Second floor: 3 flats with 3 bedrooms, 2 bathrooms, living-dining room, kitchen, and terrace.
  • Penthouse: 3 dwellings with 4 bedrooms, 2 bathrooms, toilet, living-dining room, kitchen, and spacious terraces. Two of these three houses are duplexes.

Very bright and spacious homes. Development with the best materials, selected both for aesthetic criteria and for quality, durability, and energy efficiency.

The total built area of the development is 1,284 m2.

The building permit was granted by the Murcia City Council on 02/04/2019.

This loan of €300.000 corresponds to the second tranche of a project of €1,100,000 (3 tranches in total are foreseen).


FINANCIAL OVERVIEW

Resumen financiero

Image gallery


Floorplan


DESCRIPTION OF THE FIRST RANK MORTGAGE GUARANTEE

The property, which is the object of this project, situated at Calle Pintor José María Párraga 4, Churra, Murcia (Spain), will be mortgaged by the developer as security for the loan.

The investors entering this new tranche of the project will be added to the mortgage guarantee already granted by the developer to the investors of the earlier tranches, joining it as a single first-rank mortgage guarantee for all the investors of the different tranches.

According to the valuation certificate issued by Valum instituto de tasaciones on 06/06/2022, the current valuation of the mortgaged property amounts to €1.262.186,43.

Therefore, the valuation of the mortgaged property on the loan is 148,49% (Mortgaged value € 1.262.186,43 / Loan amount € 850,000). The LTV (Loan To Value) of the project is 67,34% (Loan amount €850,000/current appraised value € 1.262.186,43). 

The appraised value of the property offered as collateral in this phase has increased from € 856.860,63 (tranche I) to € 1.262.186,43 (current tranche II) due to the progress made in the construction work as projected in the business plan. 


GUARANTEE AGENT

The chosen Guarantee 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 is ALCANTIMUR S.L., a specialist in the acquisition, development and marketing of buildings and plots of land in Alicante and Murcia.


PROJECT MONITORING

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.


AREA

The building is in Calle Pintor José María Párraga 4, Churra, Murcia. Its distance to the centre of Murcia is 3.5 kilometres and it is at an altitude of 57 metres above sea level.


  • Supermarkets, pharmacy, and school at less than 500 metre
  • Next to the health centre. 
  • Tram stop at 75 metres.
  • With access to the motorway in less than 2 minutes

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 complies with the law 5/2015 and is authorized by the CNMV as a Participatory Financing Platform registered under number 20.

Housers is not a credit institution or 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 or the Bank of Spain or any other national or foreign regulator. 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. The information shown has been prepared by Housers based on available information provided by the developer. Neither Housers nor its collaborating companies or suppliers accept responsibility or liability for the accuracy or sufficiency of the information referred to in the project. The statements or declarations with future projections refer exclusively to the date on which they were expressed, they do not constitute any guarantee of future results.

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, by 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

Before investing in this project, the investor must know the risks of his investment: Housers recommends carefully reading the Basic Information for the Investor.

In compliance with art. 61 of the Law 5/2015 on the Promotion of Entrepreneurial Financing, Housers proceeds to inform the investor of the risks that he/she will run by investing in this project:

Risk of total or partial loss of the invested capital: the main risk associated with any type of investment is the total or partial loss of the money invested, as well as the probability that the return obtained, will be lower than expected or estimated. In general, the higher the return on an investment, the higher the risk.

Risk of not obtaining the expected financial return: there is no such thing as a safe investment. There is always a risk of losing everything invested or of not obtaining the expected financial return. Investments are based on future expectations that may not necessarily be realized, so the expected financial return on the investment may never occur or may occur differently than expected.

Operational risk: failures or problems in systems, people or operational flows can have a significant impact on the investment. In any activity in any market, there is always an operational risk.

Inflation risk: the possibility of rising inflation may cause the return on investment to decline due to the inevitable loss in the value of money in such circumstances.

Risk of Lack of liquidity: investing in this project may mean that the investor may not be able to dispose of the money invested when required, having to pay attention to the estimated timeframe for the liquidity of the investment and the obtaining of the corresponding return.

Risk of not being able to influence the management of the developer: investors, as borrowers, like any other person outside a commercial company, have no right to influence the management of the developer or its assets unless this is provided for in the investment contract, and the investment contract may influence the developer's management of the developer.

Fraud risk: as in any other economic operation, there is a risk of fraud due to improper use of the money obtained for the project. To minimize this risk, the drawdowns of the loan amount that are delivered to the developer will be made using a company external to Housers that will monitor the progress of the project, making the drawdowns to the developer according to a calendar of drawdowns and after administratively verifying the fulfilment of each previous milestone of the calendar. The amounts of the loan not drawn down by the developer while waiting to reach the next milestone of the drawdown calendar will always be in the Housers Account of the developer in the payment entity used by the platform ("Lemonway") until the developer requests the drawdown, which will be authorized by the monitoring company if the developer meets the requirements established by the monitoring company.

The invested capital is not guaranteed by the investment guarantee fund or the deposit guarantee fund.

Investment in real estate should be conducted as a diversification strategy of a larger portfolio, and investment in projects published on the Housers platform is not recommended for people who do not have sufficient knowledge to understand the risks of investing in projects published by the crowdfunding platform.


Murcia | 1 building
ES
Phase:
Funding
134,874 € (44.96 %)
300,000 €
343 Investors
49 days left
Term:
19 months
Type:
Development loan
LTV:
67.34 %
Annual yield:
8.00 %
Total yield:
12.67 %
Minimum investment:
100 €
I want to invest

Funding started

June 14, 2022