Olalla Residential 7

 Bridge loan
Project listed: 06.09.2020
Madrid,
Spain
7%
Annual yield
Term: 15 months
Mortgage rank:
First
Interest payment schedule:
Quarterly
Interest payments
30.12.2020
Pending

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September 24, 2020

Update from the originator:

All the documents are ready to be signed on September 30.

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Risk rating

CriteriaFrom -2 to 2
Property type0
LTV1
Loan Structure0
Pre-sales-1
Experience1
Development's licence2
Macro-location0
Micro-location1
Purpose of the loan1
Investment length1
EBITDA Margin2
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 part of the cost of acquiring a plot of land for the development of 8 1, 2 and 3-bedroom homes with storage rooms and 9 parking spaces in the San Isidro neighborhood in Madrid capital. It is a bridge financing until the Promoter obtains the building license and the necessary sales to obtain bank financing for the construction phase. The Developer requested the building permit from the City Council in February 2020. Currently, it has 3 of the homes reserved, which represents about 45% of the project's income, despite having gone on sale only 6 months ago. The two houses with the highest price of the promotion have already been reserved.

The project

The active
Urban plot in Madrid capital
Actual state
In catchment
Location
Teniente Ochoa Olalla Street 7-9 (28019 - Madrid, Madrid)
Purpose of the loan
Land acquisition

Key details of the loan

Contribution of the promoter's own funds to the project
€ 270,000
Asset purchase price
€ 400,000
Asset appraised value
€ 445,171
Interest payment
Quarterly
 
 

Guarantee

• Constitution of mortgage on the asset

• Pledge of the social shares: the social shares of the promoter company are pledged in favor of the investors who are going to invest in the project.

 

LOAN AMORTIZATION

The developer can make a full amortization before month nine from the start of the loan, although he will have to pay the interest corresponding to the full nine months

If you make an early amortization after month nine, it may be partial or total. If it is partial, it must be for an amount greater than 100,000 euros. Amortization after month nine will only carry ordinary interest accrued to date

 

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 return of this investment. The 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 in our platform, exhaustively analyzing and filtering projects so that we only publish projects that meet demanding quality and solvency criteria that maximize compliance with commitments with investors.

Civislend works as a meeting point between promoters 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 promoters' proposals, our team of professionals rigorously and exhaustively evaluates each of the projects presented to minimize the risks for investors. For added security, additional review of projects is also carried out by external professionals and independent from Civislend.

 

Surfaces

Plot area
328 m²s
Constructed living area and common areas
769 m²c with terraces, without garages
Number of dwellings
8
Area of ​​premises / offices
-
Number of premises / offices
-
Garage surface
237 m²c with access
Number of garages
9
Storage area
47 m²c
Number of storage rooms
8

Urban data

Scope of management
Urban ground. Zonal Standard 4
Use and characteristic typology
Residential
Buildability
580.68 m²c
 

Promoter

Business name
QLT Residencial Azul SL
CIF
B88404207
Address
Calle Caleruega nº81 3ºA 28033. Madrid (Madrid) Spain
Administration organ
Solidarity administrators

Actual holder

Business name
QLT Ibérica Homes SL
CIF
B88055306
Address
Calle Caleruega nº81 3ºA 28033. Madrid (Madrid) Spain

Relationship between the promoter and the beneficial owner

QLT Residencial Azul, SL is a vehicle company created specifically to carry out the Residencial Olalla 7 project in Madrid.

Difference between the promoter and the real owner of the project

In order to protect the interests of investors, Civislend may require that the real estate project be carried out through a specific limited company created for this purpose, which we call the Promoter.

In this way, the project is isolated from the rest of the business activity of the beneficial owner and the risk that it may be affected by events outside the project itself is reduced.

Real estate projects organized in this way are in accordance with current best practices applied by banks when financing real estate developments.

Trajectory

Quality Homes, a trademark of QLT Ibérica Homes SL, is a company specialized in the promotion, development, investment and management of real estate assets. Its management team has extensive experience of several generations as builders and developers. Its objective is to develop real estate development in the central almond of the big cities for a type of client with medium purchasing power. They seek to promote high-quality homes but with affordable prices.
 
Some QLT Homes projects in the area


Quality Homes currently has 2 projects underway in the area. Both have already obtained a building permit, are financed by the bank and are under construction. They have off-plan sales of 70% and 90% respectively. The Alcaudón 21 project (Teniente Ochoa Olalla corner) is 50 meters from this investment opportunity.
Project originated by:

Documentation

7%
Annual yield
Term: 15 months
Mortgage rank:
First
Interest payment schedule:
Quarterly
Interest payments
30.12.2020
Pending
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