29 IN Fase 2

 Renovation Loan
Cambrils, Spain
Status
Done
16 863 € (99.19%)
17 000 €
Term: 12 months
Interest payment schedule: Monthly
7.5%
Annual yield
-
LTV
First
Mortgage rank
No
EVOEstate skin in the game

EvoEstate description:

We are not investing in this one, because it's a loan as for this project and we do not want to have more exposure on it and we believe we can earn more from the equity investment. You might ask why inveslar did 2 equity financings and now does fixed intrest loan, the answer is simple- the borrower for this loan is Inveslar itself, because they want to increase their earnings as they believe that this project will yield well above 14.3%. Because Inveslar is a borrower, they are providing a guarantee for this investment which would be covered from their balance sheet which exceeds 1 Million Euros in net value.

Inveslar description:

Fixed rate loan with 7.5% interest, monthly installments and a 12 month term. Type of amortization: American (payment of monthly interest with amortization in the last installment). Loan destination: Working capital financing.

Location

The municipality of Cambrils is located in the province of Tarragona, 10 km from Reus airport and 100 km from Barcelona airport. In this municipality 35,000 inhabitants live and receive an average of 50,000 tourists a year, mostly from the United Kingdom, France and Russia. The climate of Cambrils is Mediterranean, its summers are pleasant, with maximum temperatures of 27 degrees and minimum of 12ºC. Cambrils has 7 km of coastline and 9 beaches. La Riera Beach is located in the urban area of ​​the municipality and is undoubtedly one of the busiest. Cambrils has one of the most important marinas on the Costa Dorada with its 533 moorings and an interesting offer of water sports. Cambrils is the perfect place to enjoy life outdoors, relax in the sun,

Surface: 196

Constructed area: 169

Rooms: 4

Bathrooms: 2

Actual state
It requires a moderate reform in order to obtain a good revaluation in the subsequent sale.

Features

This property is a spacious apartment on the ground floor, in the Villa-Mar building. This consists of community services such as parking, pool and garden. It is located on the seafront, with which it enjoys spectacular views from its beautiful terrace. It has a total area of ​​196m2, and consists of hall, dining room, four bedrooms, kitchen, two bathrooms and terrace. Total value of the property: € 420,000

Project originated by:
Status
Done
16 863 € (99.19%)
17 000 €
Term: 12 months
Interest payment schedule: Monthly
7.5%
Annual yield
-
LTV
First
Mortgage rank
No
EVOEstate skin in the game