800 000.00 €
Listed: 2020-11-18
Type: Development loan
Mortgage rank: First
Interest payment schedule: Annually
Min. amount of investment - € 100
Project originated by:
Update from the originator:
The operator repeated the sale of 2 lots which allowed him to partially repay the capital borrowed from investors.
The operation is located 16 Chemin de Vongy - 74200 Thonon-les-Bains and consists of the purchase of a building plot and the construction of 4 villas. The land will be separated into four plots for resale by unit once the houses are built by the operator TEMEL IMMO.
The Capitalium Real Estate funds by Raizers invests 85 000€ in this operation.
The city of Thonon-les-Bains is located in the department of Haute-Savoie, 35 km east of Geneva.
This parcel is ideally located in a housing estate near a hypermarket center and the D1005 departmental road.
The four units are under construction and the marketing strategy is to put the houses up for sale once the work is completed in order to optimize the selling price.
Market price
The prices indicated are only the market price of old and new houses. There are very few references for building plots and newly built houses. However, the average price of a house in this sector is between 320 000€ and 500 000€.
The marketers selected by the operator are Century 21, Majestic, Bersot Immobilier, Immogroup and Swiss Immo. The marketing will start as soon as the villas are put out of the water, out of air. A marketing panel has already been installed on the plot.
Note that the houses in this program will benefit from reduced notary fees.
After the acquisition of the land in April 2019, the operator focused on its ongoing programs. In 2020, after these programs were finalized, he decided to launch the Clos de Gyves program.
The operation is carried out by TEMEL IMMO, with a capital of 1,000 euros, registered in the Thonon-les-Bains Trade and Companies Register under the number 820 642 791.
The bond loan will be issued by TEMEL IMMO at an annual rate of 10% per year for a period of 18 months.
The bond loan will be amortized and repaid in the course of sales by the operator, interest is paid annually, but guaranteed for a minimum period of 6 months.
In order to provide additional guarantees, the repayment of the bond is guaranteed by:
* First rank mortgage registered on the land concerned by the operation
* First rank mortgage registered on a second asset, CHENES NEUVECELLE - land bought 250 000€ by the operator with its own funds
* Personal guarantee of Mr. Kizilkaya
Repayment of the bond loan will be made according to the progress of marketing as follows:
Note that if two villas are sold, then 100% of the bond loan will be repaid.
When the bond and its interests will be reimbursed at 100%, the 1st rank mortgage will no longer be registered.
Each tranche repaid will have to produce a minimum of 6 months of interest.
Example of calculation for the repayment of a tranche :
The issue date of the bond is November 30, 2020.
The villa 1 has been sold 6 months later, then Temel Immo will pay the investor realizing 10 000 € of investment:
* 46.50% of the amount loaned, or € 4,650
* 6 months of interest at an annual rate of 10%, i.e. €232.5 of interest (€4,650 x 10% annual/12 months x 6 months)
All the documents associated with this fundraising are available in the "documentation" tab.
The above balance sheet is estimated in the context of a bond repaid after 18 months.
In the event of repayment in the 12th month of the bond issue, the margin as a % of revenues excluding VAT would then be 11.9%.
This operation is built by the masonry company "Alpes Tech" owned by the operator.
Mustafa Kizilkaya, President of Temel Immo Group, launched its real estate development activity in 2014. To date, he has completed 5 programs in Haute-Savoie.
Balance sheet Temel Immo
Income statement Temel Immo
| Date | Status | Late | Assignment date |
|---|---|---|---|
 04.12.2021 | No | - | |
| 04.06.2022 | No | - |
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