125 000.00 €
Listed: 2021-03-08
Type: Refinancing
Mortgage rank: First
Interest payment schedule: Annually
Min. amount of investment - € 100
Project originated by:
The operation is located 2, rue de l’Hôpital in Confolens (16500) a town in Charente on the banks of the Vienne River, between Angoulême and Limoges.
The transaction is being carried out by Zed Immobilier Est, owned by Mr. Zouhair Zawde, who has been working in real estate for some 30 years in the United States and has decided to continue his activity in France.
This is a property deal involving a group of historic buildings in the city acquired by Zed Immobilier Est in 2018. The transaction concerns 2 of these buildings:
* Two small buildings with a historic stone tower for a surface area of 220 m².
* A building of 330 m² on a plot of 536 m².
The second building is already under the promise of sale for a price of €145,000 to a foreign investor. The authentic reiteration should take place in July 2021.
The bond loan will make it possible to refinance part of the equity that the operator has already invested in this operation.
Detail of the units
Building 4 is under a promise of sale without suspensive loan conditions to a foreign investor who wishes to transform it into a guest house. The promise was signed in January 2021 and must be reiterated by July 2021 at the latest.
Building 3 will be marketed as a restaurant/café.
The price per m² of the operation is below the prices observed on the local market, which is due to the nature of the buildings that require rehabilitation work in order to be used.
The transaction is being carried out by Zed Immobilier Est, with a capital of 1,200 euros, registered with the Angoulême Trade and Companies Register under number 847 757 727, on 23/01/2019. Zed Immobilier Est will also carry the bond issue.
The bond issue will be issued by SAS Zed Immobilier Est at an annual rate of 10% per annum for a period of 12 months. The bond issue may be amortised and repaid by the operator as sales are made, with interest paid annually but guaranteed for a minimum period of 6 months.
* Sale of the building 3: Repayment of 80% of the bond loan
* Sale of the building 4: Repayment of 100% of the bond loan
To provide additional guarantees, the repayment of the bond is guaranteed by:
* A first-rank mortgage in favor of Raizers representing the body of bondholders on all Confolens' assets.
* Personal guarantee from Mr. Zouhair Zawde
The bond contract provides for early redemption if:
* Sale of all the units
All the documents associated with this fundraising are available in the "documentation" tab.
*Calculation pro rata to the purchase price of the property complex
Loan To Value of 51%. The ratio of the loan to the value of the property.
Zouhair (Charles) Zawde, Lebanese, 61 years old:
Mr. Zawde became involved in the refurbishment and fitting out of old and historic buildings for 30 years. In 2006, he took over the management of Princeton Commercial Holdings LLC based in the United States, for which he is still responsible and which carries out property merchant operations. See the website.
Princeton Commercial Holding's turnover over the last few years:
* 2018: $901 633
* 2017: $1 277 043
* 2016: $1 178 949
* 2015: $961 376
Balance sheet Zed Immobilier Est
Income statement Zed Immobilier Est
| Date | Status | Late | Assignment date |
|---|---|---|---|
 03.03.2022 | No | - |
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