Project update

Update from the originator:

The following solution was approved: "I agree to unilaterally end the loan contract signed with the developer due to non-payment following stipulation 7.1.1 and, so, I agree to transfer the debt to the company specializing in recovery (PROCOBRO DEBT SOLUTIONS, S.L.), assuming a possible partial or total loss of your investment".

More information will follow.

Update from the originator:

The originator informs you that to date the originator has not received the amount of the agreed transfer, so at the moment the originator is in contact with the promoter in order to understand the current status of the transfer.

Update from the originator:

The originator would like to inform you that, following the procedure established by our Legal Department and with the intention of regularising the situation of the GRAN SOL I project, BISMEL 2013, S.L., developer of the aforementioned project, has been included in the ASNEF list.

Update from the originator:

The developer communicated that it wishes to activate the "Flex" option. He sent a proposal that offers a schedule of payments of principal and interest.

The originator agreed on the proposal to extend the loan.

The details can be found in the documents section. 

Update from the originator:

The originator informs you that the promoter has already been contacted in order to understand the current status as well as the procedures to be carried out to regularize your delay situation. 

Update from the originator:

The developer informs you that the promoter has already been contacted in order to understand the current status as well as the procedures to be carried out to regularize your delay situation.

Update from the developer:

The Gran Sol project is progressing positively and the developer is already finishing the facilities and entering the new one's items of plaster, paint, plasterboard, etc.

Regarding sales, the developer plans that the homes will be reserved in the next two months since the developer has done a promotion until the end of December with a 5% discount and there is a very good response from customers.

A new document containing pictures of the progress has been added.

Update from the originator:

The originator informs you that GRUPO SITECNO, promoter of the GRAN SOL project, has communicated that it wishes to activate the "FLEX" option provided for in the contract signed between the promoter and the investors. In this way, the deadline for completion of the aforementioned project set for 8 December 2020 is automatically extended until 8 June 2021. In return, and as contractually foreseen, the interest for investors in the project is increased by 0.75% per year, from 9% per year to 9.75% per year. This increase in interest will be applied as from the entry into force of the Flex option, from 9 December 2020.

Update from the developer:

Like the Montigala project, this project is progressing very well and the developer is already in the installation phase, as the structure is ready. The developer already has the assigned agency called Finques Badalona that has a few scheduled visits during the month of September for the sale of homes. In both places, as there is no supply of new homes, the two projects are moving forward with a lot of expectations and without changes in the predetermined prices for the sale of homes.

A new document was added with pictures of the progress.