Purchase, reform and sale of flats in Madrid

 Purchase Loan
Project listed: 29.07.2020
Madrid,
Spain
535 125.00 €
Raised Of 600 000.00 €
6.75%
Annual yield
Term: 12 months
Interest payment schedule:
Quarterly
Invest:
Interest payments
20.11.2020
Pending

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Risk rating

CriteriaFrom -2 to 2
Property type0
LTV1
Loan Structure1
Pre-sales1
Experience1
License0
Macro-location0
Micro-location0
Purpose of the loan0
Investment length1
EBITDA Margin1
EvoEstate Risk rating is of an informative nature only and can not be considered investment advice.
Project rating
B
Originator rating
A-

Descripton

Project description

Financing for the purchase, reform and sale of flats in Madrid and its metropolitan area within a maximum period of six months. The average purchase amounts are around 200,000 euros. Financing represents between 50% and 60% of the lesser of the appraised value or purchase price. These are one to four bedroom homes and surfaces from 60 square meters. TIKO will be the company in charge of buying and selling the apartments. It is the first real estate in Spain that allows owners to sell their apartment in a matter of days.

The Promoter will reuse the loan amount as he / she is selling and buying new homes on which he / she will provide the corresponding guarantees.

The project

The active
Apartments in Madrid
Actual state
In recruitment
Location
(28000 - Madrid, Madrid)
Purpose of the loan
Purchase, reform (in some cases) and sale of apartments in Madrid and its metropolitan area
Website / Marketing

Key loan details

Contribution of the sponsor's own funds to the project
€ 570,000
Asset purchase price
€ 1,140,000
Appraised value of the asset
-
Interest payment
Quarterly

Guarantee

• Pledge of the social participations: the pledge of the social participations is made on behalf of the investors who are going to invest in the project.

• Deposit of the company that owns the promoting company.

• Mortgage promise and irrevocable powers of attorney to constitute a mortgage: the promoter grants investors represented by CIVISLEND a mortgage promise as well as specific powers to constitute a mortgage on each of the farms. A mortgage may be constituted in the event that six months from the purchase in public deed of a property without it being sold.

 

Risks

Click here to see the specific risks of this project

From the moment an investor formalizes his participation in a project, he is accepting the risk and profitability of this investment. Loans present the risk of not obtaining the expected return, lack of liquidity, possibility of dilution or even loss of the principal of the loan.

At Civislend we work to minimize the risks of investors registered on our platform, exhaustively analyzing and filtering projects so that we only publish projects that meet stringent quality and solvency criteria that maximize compliance with investor commitments.

Civislend functions as a meeting point between developers and investors, but is not responsible for the success or failure of a project, or for the profitability obtained by the investor.

Before publishing the proposals of the promoters, our team of professionals evaluates in a rigorous and exhaustive way each one of the projects presented to minimize the risks of the investors. For added security, additional project review is also performed by external and independent Civislend professionals.

 

The promoter

Business name
Tiko Es Asset Management 4, SL
CIF
B01766344
Address
Paseo de la Habana, 28,1D 28036. Madrid (Madrid) Spain
Administration organ
-

Royal holder

Business name
Tiko Es Asset Management 4, SL
CIF
B01766344
Address
Paseo de la Habana 28 1D 28036. Madrid (madrid) Spain

Relationship between the developer and the real owner

In this project the figure of the promoter and the real owner coincide.

Difference between the developer and the actual owner of the project

In this project the figure of the promoter and the real owner coincide.

Trajectory

The developer is a proptech that gives liquidity to the real estate market, using technology to make the sale of the home possible in just one week. It has been operating in Spain for more than two years with good results. It has a strong team, including major investors in the field of seed capital. They have an "iBuyer" business model that uses "machine Learning" and "automation" to value (24h) and buy (7 days). The period in which they return the house to the market is 75 days.
 

 

Project originated by:

Documentation

535 125.00 €
Raised Of 600 000.00 €
6.75%
Annual yield
Term: 12 months
Interest payment schedule:
Quarterly
Invest:
Interest payments
20.11.2020
Pending
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