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San Telmo

PROMOTION

Up to 15% profitability

The developer of the project offers an increase in profitability up to +3% The total profitability of the project will be:

  • 13% for investments over 501€. 
  • 14% for investments over 1.001€. 
  • 15% for investments over 6.001€. 

Do not miss this opportunity, and if you have invested you can increase your position because it is retroactive.

More information about the promo here.


PROJECT SUMMARY

  • Purpose: the loan will finance the costs associated with the development of twelve high-rise dwellings, commercial premises and five parking spaces.
  • Location: Las Palmas de Gran Canaria, Las Palmas (Spain).
  • Type of opportunity: loan.
  • Type: Fixed-rate.
  • Scoring: AA (more information here).
  • Guarantee: First-rank mortgage guarantee registered in the land registry.
  • Loan To Value (LTV): 43.26%.
  • Nominal annual interest rate: 8%.
  • The yield on the opportunity: 12%.
  • Maturity: 18 months.
  • Type of principal repayment: at maturity.
  • Interest payment: quarterly.
  • Minimum investment: €300.


PROJECT

We present San Telmo, a fixed-rate development that will allow you to finance the costs associated with the development of a building with twelve high-rise flats, one commercial premise and five parking spaces, in Las Palmas de Gran Canaria (Spain).

The total built area of the development is 1,315.95 m2.

The building will be distributed as follows. 

Ground floor:

  • Commercial premises
  • Five garage spaces

First floor:

  • Three dwellings with two bedrooms, two bathrooms, living-dining room, kitchen, and storage room.

Second floor:

  • Three dwellings with two bedrooms, two bathrooms, living-dining room, kitchen, storage room and terrace.

Third floor:

  • Three dwellings with two bedrooms, two bathrooms, living-dining room, kitchen, storage room and terrace.

Fourth floor:

  • Three dwellings with two bedrooms, two bathrooms, living-dining room, kitchen, storage room and terrace.

It has three accesses from the street, one for the entrance, another for the garage on the ground floor and a third for the premises.

Top-quality materials, with the entire façade covered with materials that guarantee aesthetic quality, durability, and minimal maintenance.

The entire façade will be clad in porcelain or concrete. Aluminium composite panels, glass parapets and roller blinds.

The project currently has a demolition licence, pending the granting of a building permit.

This loan of €600,000 corresponds to the first and only tranche of the project. When the development reaches the required percentage of work, the developer will request a developer loan from a bank of €850,000 to be returned to Housers investors.


FINANCIAL OVERVIEW

Resumen financiero

Image gallery


Floorplan


DESCRIPTION OF THE FIRST RANK MORTGAGE GUARANTEE

The property provided by the developer as a first-rank mortgage guarantee is the property, which is the object of the project, located at Calle Senador Castillo Olivares, nº nine in Las Palmas de Gran Canaria (Spain).

According to the valuation certificate issued by Arco Valoraciones S.A. on 21/02/2022, the current mortgage or appraisal value of the property described is 1.386.762,09€.

Therefore, the value of the mortgaged property constitutes a guarantee of 231.12% (mortgage value €1,386,762.09/loan amount €600,000). The LTV (Loan to Value) of the project is 43.26% (loan amount €600,000/current appraised value €1,386,762.09). The estimated value of the property in a completed scenario according to the comparison method amounts to €3,292,332.32.


GUARANTEE AGENT

The GUARANTEE AGENT for this project will be an independent company appointed by Housers from a group of GUARANTEE AGENTS selected for their experience, capacity and seriousness. The Guarantee Agent finally appointed for this project will be communicated to the investors of the project in the timeline once the delivery of the guarantee has been signed by the developer.


DEVELOPER

The developer of the project is REFORMAS Y PROYECTOS LOPSAN S.L., a company belonging to the construction sector, in the field of building both new construction and renovation, rehabilitation and maintenance.

REFORMAS Y PROYECTOS LOPSAN S.L. is a group of professionals with numerous projects. The developer group has total assets at 31/12/2021 of 780.210,69€. 

This is the first project of the developer in Housers. The developer may apply in the future for other loans 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.


PROJECT MONITORING

The monitoring company PROYECTOS CIGA will carry out the monitoring of this project, having permanent control of the destination of the capital contributed 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 an 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 in calle Senador Castillo Olivares, nº nine in Las Palmas de Gran Canaria (Spain).

Highlights:

  • Next to San Telmo Park and the chapel of the same name, declared a historical monument.
  • Less than 2 kilometres from the seafront promenade.
  • Environment of marked residential character, within the urban nucleus of the capital of the island, characterised by multi-family buildings with commercial areas. 
  • With all the facilities and services nearby: public transport, shopping areas, leisure areas, religious services, sports and green areas and schools.

Location


PROJECT FEE

Housers will not charge any commission to the investor for this opportunity. Housers will charge the promoter a fee that will be determined based on a % of the funds raised by the promoter for the project, provided that the project is successfully funded. In case the project is not successfully funded, Housers will not charge this fee to the promoter. Once the project is financed and as a previous step to the delivery of the money to the promoter according to the disposition schedules, this commission will be deducted from the amount of the loan to be transferred to the promoter in favour of Housers, not affecting the final profitability obtained by the investors since it is the promoter who assumes its cost. In this opportunity Housers' commission is 7,5% + VAT being the commission financed within the opportunity.


WARNINGS

Housers follows the law 5/2015 and is authorised 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 supply 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 authorisation 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 concerning 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 form any guarantee of future results.

Both the financing aim and the maximum term to invest in this opportunity may be extended by an added 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.


RISK

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 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 needed, having to pay attention to the estimated timeframe for the liquidity of the investment and obtaining 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 check 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 earlier 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.


* Up to 15% profitability


The developer of the project offers an increase in profitability up to +3% The total profitability of the project will be:

13% for investments over 501€. 

14% for investments over 1.001€. 

15% for investments over 6.001€. 

Do not miss this opportunity, and if you have invested you can increase your position because it is retroactive.

 

More information about the promo here.


Las Palmas de Gran Canaria | 1 building
ES
Phase:
Funding
399,008 € (66.5 %)
600,000 €
386 Investors
9 days left
Term:
18 months
Type:
Development loan
LTV:
43.26 %
Annual yield:
8.00 %
Total yield:
12.00 %
Minimum investment:
300 €
I want to invest

Funding started

March 30, 2022