|Criteria||From a+ to d||Project rating|
Macro Location Analysis
EvoEstate Risk rating is of an informative nature only & can not be considered investment advice.
Purpose of the loan
Type of opportunity: Loan
Modality: Development Loan1
Annual Interest: 9%
Profitability: 4.5%2 in 6 months
The third stage of a project of 725.000 euros3 (a total of three phases are foreseen4).
We present Gran Sol III, a new development loan1 project, which consists of granting a loan to a project developer for the finalization of building construction in Badalona, Barcelona.
Despite the fact that this loan is of the Flex Contract type, the developer will not be able to activate the flex option in this last section as it has been activated and extended the duration of the project previously, as it would exceed the total duration of the project, which is 12 months + 6 months from the date of financing of the first section, with the end date of the loan being 8 June 2021.
WHY INVEST IN GRAN SOL III?
- The project is 80% completed;
- 50% of the houses sold!
- The ground is in the property;
- The project developer has more than 30 years of experience;
- 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 tourism;
- It has one of the best beaches on Barcelona's coastline with white sand and many infrastructures surrounding 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
The opportunity foresees the construction of a building consisting of commercial premises on the ground floor and four houses with:
- 3 bedrooms;
- 2 bathrooms;
- Living room and kitchen.
The commercial premises will have approximately 126m2 and each house will have 90m2, a balcony and in the attic a large terrace.
THE PROJECT DEVELOPER
The project developer belongs to Grupo Sitecno, a group of innovative companies, constantly committed to the environment.
Counts with more than 30 years of experience in Spain, in the construction sector, execution of works and renewable energy.
In addition, it is important to know that GOC will carry out the monitoring of this type of project so that there will be a permanent control of all the capital contributed by investors.
Risks information: Housers is neither a credit institution nor an investment services firm. Investment in projects published by HOUSERS is not covered by any investment fund. This project has not been supervised by the CNMV or the Bank of Spain or any other Spanish or foreign regulator. The information provided by the developer has not been reviewed by the CNMV nor does it constitute a prospectus approved by the CNMV. Housers does not provide financial advice, so nothing on this website should be construed as such. Investment in this project involves the following risks: risk of total or partial loss of invested capital, risk of not obtaining the expected monetary return and risk of illiquidity to recover the investment. The promoter accumulates 0 projects on the platform, even though the first two phases of this project have been already successfully funded. This loan of €165.000 is the third tranche of a total of 3 tranches of a total of €725,000, which could entail an additional risk of concentration. The project promoter is responsible to investors for the information it has provided to the participatory financing platform for publication within the project on the website. The promoter has a share capital at 30/09/2019 of € 153,000 and equity at 30/09/2019 of € 125,334.16 so that its responsibility in the project is limited to this amount. SITECNO S.A., whose equity at 30/06/2019 is €363,445.10, is established as an additional guarantee, for further information please refer to the promoter's report. The maximum term for investing in this opportunity may be extended by 25% in addition to the term initially foreseen, in accordance with the Law for the Promotion of Business Financing. Likewise, HOUSERS will be able to close the financing of this opportunity/project when it has been financed by 90%. These possibilities that the legislation offers to the platform will be used when the typology and characteristics of the project advise it so that it can be carried out with less funding than requested and the implementation deadlines are not adversely affected. This information can be found here.
1) Development Loan: 6-month fixed-rate loan to the real estate developer where interest is distributed monthly and the principal is amortized at the end of the project. The interest is not guaranteed, but the developer presents one additional guarantee.
2) It is the total return on investment. It takes into account the total term of 6 months and the annual fixed interest agreed by the promoter. For more details see the Promoter's Report.
3) According to article 68.2 of Law 5/2015 for the Promotion of business financing, "The maximum amount of fundraising per participatory financing project through each of the participatory financing platforms may not exceed 2,000. 000 euros, being possible the realization of successive rounds of financing that do not exceed the aforementioned amount in the annual calculation. When the projects are directed exclusively to accredited investors, the previous maximum amount may reach 5,000,000 euros". The project planned two phases, but due to uncertainty produced by the COVID-19 and the slowdown in the construction works, the developer of the Gran Sol project has proposed to divide the second phase into two.
4) The project planned two phases, but due to uncertainty produced by the COVID-19 and the slowdown in the construction works, the developer of the Gran Sol project has proposed to divide the second phase into two.
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