All the information about withdrawals, accounts, Secondary Market and other topics can be found in this FAQ blog post. In case you still have questions, you can contact us at info@evoestate.com
All the information about withdrawals, accounts, Secondary Market and other topics can be found in this FAQ blog post. In case you still have questions, you can contact us at info@evoestate.com
Update from the originator:
As you know, when the State of Alarm was declared, many banks postponed financing for developers.
The main objective of the originator has always been to preserve the capital of investors. In this period the originator has been in constant contact with the promoter who has kept the originator up to date on the evolution of the project, especially from the commercial point of view of the promotion and the relationship with the bank (BBVA) with which it had to be signed simultaneously with the operation as this entity finances the work part of the development and whose presence is one of the guarantees available to investors.
For all these reasons, the originator is happy to inform you that yesterday, October 13, the loan was signed before a notary, so from now on investors will be able to see the actual payment schedule.
As a noteworthy fact, the promoter has agreed to raise the annual nominal interest rate to be paid to investors from the 9.05% initially agreed upon, to 9.95% as compensation for the waiting time that has elapsed.
Update from the originator:
The funding was completed on March 3 and the documents will be signed in the coming weeks. On March 15, a state of alarm was declared in Spain. The banks paralyzed all operations and the developer's signature that was supposed to be carried out on the same day by the bank (BVVA) did not happen. After these months the banks have resumed some operations. The originator has been informed that the signature is scheduled for the week of October 13. It is signed in conjunction with an operation of a major nursing home company (Ballesol), which is the one who sells part of the plot and is going to develop a nursing home. The signature is coordinated with the bank (BBVA). The originator awaits definitive confirmation and in the meantime, the originator is seeing the possibility to pay for the time that has passed from the moment the loan was funded and now.
The originator will keep investors updated with the process of signing the documents and payment for the non-performing time of the loan.