The operator, Anthony Pecolo, 38 years old, has been working as a property for nearly 14 years in the Lyon region and has carried out some fifteen operations alone or with partners.
Here he is acquiring a real estate complex of character, composed of several buildings within a large park, which he is dividing into 14 units for resale. The work will consist of cleaning, separating, and connecting the units. The units will then be commercialized for renovation in order to allow future buyers to benefit from the land deficit.
Following this operation of the property dealer, the operator keeps a land reserve that he intends to develop. This second phase will include, on other buildings of the complex, more important works (modification of openings, framework) before the resale of the units.
It should be noted that Raizers is only involved in the first phase of the operation and that this second phase does not impact the repayment of the bond loan.
Zoom on the program
The selling price of the operation is higher than the market price taking into account a renovation at 1000 €/m². This difference can be explained by the remarkable quality of the building and the small surface areas of the proposed units.
The buyers will be able to use the tax advantage of the land deficit on their work package and thus optimize their land income.
To date, commercialization has not started, it will start once the work has begun. The commercialization will be done directly by the operator.
The operation is carried out by SASU Amiral, with a capital of 1,000 euros, registered in the Lyon Trade and Companies Register under number 894 458 975, on 23/02/2021.
SASU Amiral, which is carrying out the Domaine de l'Amiral transaction and the bond issue, is wholly owned by Anthony Pecolo.
In order to comply with the regulatory provisions relating to bond issues, SAS Patrimoine et Investissements, 50% owned by Anthony Pecolo, will provide its First Demand Guarantee.
The bond will be issued by SASU Amiral at an annual rate of 10% per year, for a period of 24 months. The bond will be amortized and reimbursed by the operator as sales are made, with interest paid annually but guaranteed for a minimum period of 6 months.
In order to provide additional guarantees, the repayment of the bond loan is secured by:
* A first ranking mortgage in favor of Raizers representing the bondholders' mass
* A personal guarantee by Anthony Pecolo
* A First Demand Guarantee from SAS Patrimoine et Investissements
All the documents associated with this fundraising are available in the "documentation" tab.
The land reserve corresponds to the margin to be collected on the second phase, i.e. approximately 450,000 € correspondings to 30% of the forecast turnover.
The operator has already financed €67,500 for the immobilization indemnity. The remainder will come from the sale of land in the coming weeks.
* Loan to Value (Loan / Turnover) : 61.5 %
* Loan to Cost (Loan / Cost of Return): 70%.
Presentation of the operator
Anthony PECOLO, 38 years old, French :
Mr. Pecolo has been a property dealer since 2007 with the company Patrimoine et Investissements. He has carried out about 15 transactions with this company over the last 14 years, in collaboration with his partner David Truchet, in the Lyon region and its suburbs.
At the same time, he is developing a real estate portfolio with two other partners through various real estate companies.
As the company Amiral was recently created for the operation, the financial elements presented are those of the company giving its First Demand Guarantee, SAS Patrimoine et Investissements.
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Invest in Domaine de l'Amiral,Lyon, France