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1 000 000 €
Type: Variable-Interest Loan
Mortgage rank: None
Interest payment schedule: At Project Completion
Min. amount of investment - € 0
Update from the originator:
The Valladolid-Adaptis project is moving forward as expected. Currently, 25% of the works are already completed, and 80% of the houses have been sold. The remaining 20% will be sold at a higher price, in order to compensate for the increase in construction costs that accrued. The originator expects to keep up with the business plan and return the investment on the 2Q of the year 2023, with a 40% return.
|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.
We present a new project that consists of the development of a residential development of 32 homes, parking spaces and storage rooms in Valladolid.
The development is located in the La Rubia neighborhood, south of the city of Valladolid, in front of the Puente de la Hispanidad and the CC. Vallsur. Valladolid has a direct socio-economic area of influence of more than 600,000 people, located 190 km from Madrid and with a direct connection by AVE just over an hour away. In addition, it is the administrative headquarters of the community of Castilla y León, both of the Cortes and the autonomous government itself.
The La Rubia neighborhood has experienced exponential growth in recent years, with the increasing development of urbanizations aimed at upper-middle-income families.
The operation is led by the developer ADAPTIS Real Estate, a leading company in the development of real estate developments and urban land management. In its history, it has more than 16,000 homes sold and almost 1 million m2 built. Its management team is at the forefront at the national level, with experience in managing the entire value chain of the real estate cycle. They currently have two lines of business development linked to promotion, both their own and with alliances with international investment funds. They are developing promotions throughout the national territory, highlighting locations such as Madrid and Andalusia, where they have a total of 8 promotions underway.
The project has a capital gains strategy, which consists of an alliance with the developer to develop housing development in the southern area of Valladolid. This alliance is consolidated through a vehicle constituted by the promoter ( Chelsfield Investments, SL ) on which Urbanitae investors will carry out the capital increase.
The proposed promotion consists of 32 homes contained within a private urbanization with more than 1,900m 2 of common and landscaped areas: swimming pool, paddle tennis court, bicycle room, children's area, multipurpose room with coworking space and gastro bar. In addition, 33 parking spaces and 32 storage rooms will also be built. The complex is distributed in 8 homes with 2 bedrooms, 20 homes with 3 bedrooms and 4 homes with 3 bedrooms. The commercialization of the houses is oriented to the first family home.
The developer has already drawn up and presented the architecture project at the City Council, and hopes to have a building permit in the coming weeks. The developer has signed a private contract for the sale of the land. The contribution of Urbanitae investors will make it possible to make the last payment for the purchase of the site and bear the necessary expenses until the financing of the project by a financial entity. Once the contribution of Urbanitae investors has been made, the developer will hold 55% of the capital and Urbanitae investors the remaining 45%.
On a commercial level, the project went on sale in 2020 and already has 30% reserves.
There are several reasons to invest in this project:
The developer expects to generate a total income of almost 9 million euros with the sale of the 32 homes and their annexes, which would mean an estimated net profit for the investor (after expenses and taxes) of around 40%.
The operation will be structured through a company already constituted exclusively for this project where it will bring together all Urbanitae investors, Chelsfield Investments, SL In said the company, a capital increase will be carried out where Urbanitae investors will take their participation as contribution money. The commercialization of the homes will be in charge of the promoter itself, which has hired the services of a sales agent in the area. The developer has planned a fixed sales point next to the site.
The promoter will not only dedicate himself to the full management of the development but will also hold 55% of the capital necessary for its development. On the other hand, all Urbanitae investors will have the remaining 45%. The financial structure of the development also includes the participation of a bank to finance the work.
The originator has conducted a market study to determine whether the selling prices set by the promoter are reasonable. Currently, within the La Rubia neighborhood there are several promotions in the commercialization of a similar type, both in work in progress and in new construction completed. However, this promotion has some distinctive advantages:
You can see more information in the documentation, Sales Witnesses, where you will find a list of homes for sale in the area.
WHEN WILL I RECOVER MY MONEY INVESTED?
The estimated term of this project is 24-26 months.
The anticipated terms of the promotion are as follows:
It is important to bear in mind that in any real estate development the terms can vary both upwards and downwards.
All investments carry risk. We detail the clearest risks we have identified for this project:
Warnings and Risks
Urbanitae Real Estate Platform PFP (Urbanitae) does not hold the status of an investment services company, or a credit institution and is not attached to any investment guarantee fund or deposit guarantee fund. The information published by Urbanitae Real Estate Platform PFP on its Website is for informational purposes only and in no case may it be considered as recommendations to investors.
The participatory financing projects published by Urbanitae on its Website are not subject to authorization or supervision by the National Securities Market Commission or by the Bank of Spain, therefore, all the information provided by the promoter in relation to the projects has not been reviewed by them.
The estimated return on the investment is net to the investor. In any case, the withholdings established by tax regulations will be applied to the income obtained, and in addition, a 0.3% corresponding to the commission of the payment entity Lemonway will be deducted.
Urbanitae expressly informs that, in the event of non-compliance with the total investment volume of the project, the term for the capture may be exceeded by up to 25%, maintaining the same investment conditions. Urbanitae warns that the financing objective of the project may be exceeded by up to 25%, and therefore the commission to the promoter may be increased proportionally, but all this while maintaining the same investment conditions for investors. Likewise, the project may be financed by Urbanitae when at least 90 percent of the financing objective has been reached, after discounting the participation in the project that the platform itself may have. All of this in accordance with the provisions of Article 69 of Law 5/2015 on the Promotion of Business Financing.
The investment in the projects published on this Website may entail certain risks, such as the risk of total or partial loss of the capital invested, of not obtaining the expected monetary return or lack of liquidity. Therefore, we advise investors to only invest an amount that they are willing to lose and suggest that they diversify their investments to minimize and mitigate potential risks. In the event that the promoter is unable to return or remunerate the funds received, Urbanitae will not return their investment to investors.
|Total Purchase||€ 1,973,698||€ 504 / m 2|
|Solar Cost||€ 1,700,000||€ 434 / m 2|
|Due Diligence cost||€ 20,000||€ 5 / m 2|
|Legal Costs||€ 253,698||€ 64 / m 2|
|General costs||€ 5,195,384||€ 1,328 / m 2|
|Construction Cost||€ 4,327,740||€ 1,106 / m 2|
|Other Costs||€ 867,644||€ 221 / m 2|
|Urbanitae Commission 6.5% (s / VAT)||€ 65,000||€ 16 / m 2|
|Financial costs||€ 298,250||€ 76 / m 2|
|Total investment||€ 7,532,332||€ 1,926 / m 2|
|External financing (promoter credit + buyers)||€ 5,332,332||€ 1,363 / m 2|
|Promoter's contribution||€ 1,200,000||€ 306 / m 2|
|Urbanitae investors contribution||€ 1,000,000||€ 255 / m 2|
|Net income from sale||€ 8,418,354||€ 2,153 / m 2|
|Sale of 32 homes||€ 8,947,300||€ 2,288 / m 2|
|Marketing and advertising||€ 178,946||€ 45 / m 2|
|Corporate Tax Forecast||€ 350,000||€ 89 / m 2|
|Total profitability||40 %|
ADAPTIS Real Estate, a leading company in the development of real estate developments and urban land management. In its history, both the company and its partners have more than 16,000 homes sold and almost 1 million m2 built. Its management team is at the forefront at the national level, with experience in managing the entire value chain of the real estate cycle
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