Update from the originator:
The originator informs investors that SITECNO S.A., promoter of the MONTIGALA 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 10 December 2020 is automatically extended until 10 May 2021. In return, and as contractually envisaged, 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 11 December 2020.
We invest personal money, because the location of property is good, developer has a building permit. The scoring made by third party is A and the only negative reason that there are no presales of this 4 unit development.
Type of opportunity: Loan
Modality: Development Loan1 with Flex Contract2
Yield: 8%3 in 12 months
We present to you Montigala, a development loan1 opportunity which consists in the granting of a loan to a project developer to finance the construction of a building composed by four apartments, in the city of Badalona, Spain.
REASONS TO INVEST IN MONTIGALA
- The project developer has the land in property;
- The building permit has already been granted;
- The project developer presents several years of experience in this sector;
- The project has a strategic location, 30 minutes away from Barcelona;
- The scoring of this opportunity is A.
The project is located in Badalona, a town in the province of Barcelona.
Highlights of the location:
- Badalona is strategically located in the metropolitan area of Barcelona and on the Mediterranean coast;
- It is a sea and mountains city with a pleasant Mediterranean climate, its economy is based on the tourism;
- It has one of the best beaches on Barcelona's coastline with white sand and many infraestructures surounding it as many bars and restaurants;
- The main attractions in Badalona include the Pont del Petroli, the Badalona Museum, the Rambla and the Gothic-style Monastery of San Jerónimo de la Murtra.
ABOUT THE PROJECT
The purpose of the opportunity is to finance the construction of a building located in the center of Badalona. This area presents several infrastructures such as shops, restaurants and gyms. The apartments will have 1, 2 or 3 bedrooms, with a total area of 46m2, 63m2 e 90m2, correspondingly.
The building will present the following distribution:
- Two apartments on the ground floor;
- One apartment on the first floor;
- One apartment as a penthouse.
Three out of the four apartments will have a balcony. The location of this project is very well communicated, with a metro station nearby.
THE PROJECT DEVELOPER
The project developer belongs to Grupo Sitecno, a group of innovative companies, constantly committed with the enviroment.
Counts with more than 30 years of experience in Spain, in the construction sector, exceution of works and renewable energy.
Additionally, GOC will monitor these types of projects, in order to guarantee a permanent control regarding the allocation of the capital provided by the investors.