EvoEstate Risk rating is of an informative nature only & can not be considered investment advice.
It is carried out by the SCCV Petra Nera owned by Mr Graziani and Mr Pastinelli, both of whom work in the real estate sector, in the fields of all building trades and waterproofing. This is their first property development operation.
The operation consists of a property development of 7 housing units from T2 to T3. 5 of these lots are already under reservation contracts, i.e. 72% of the turnover. The margin is 11% with prices consistent with the sector.
Work began in September 2020 and the operators are applying to Raizers for the acquisition of the land, and the foundations have been completed to date.
Zoom on the program
*The pre-marketed units are under reservation contracts with the suspensive condition of obtaining a loan. The loan agreement has been obtained for each of the purchasers.
Each lot has two parking spaces and the residence also has a private swimming pool.
It should be noted that lot 2 will be purchased by Mr. Graziani Nicolas (son of the operator) and lot 1 by Mr. Pastinelli but at this stage, no reservation contract has been signed.
The program is being marketed by the Lewis Morgan Immobilier agency, see the ad.
The operation is located about 20 minutes drive north of Porto-Vecchio, the third most populated city on the island after Ajaccio and Bastia.
The beaches of Pinarello and St Cyprien can also be reached in a few minutes.
To date, the foundations have been completed.
The market price is very close to the market price observed in the area, despite the new nature of the flats.
It should be noted that the seller, being an acquaintance of the operators, allowed them to start work before the land was acquired.
The operation is being carried out by SAS Petra Nera Holding de Financement, with a capital of 150 euros, registered in the Bastia trade and companies register under number 851 347 294, on 19/05/2021.
The SCCV Petra Nera, which is carrying the Sainte Lucie de Porto Vecchio project, is wholly owned by the same partners as the SAS Petra Nera Holding Financement, which will carry the bond issue.
The bond will be issued by SAS Petra Nera Holding de Financement at an annual rate of 11% per year, for a period of 24 months. The 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
* Mr. Pastinelli's personal guarantee
* First demand guarantee from SAS BGP Etanchéité Isolation
* Double signature on the centralizing account
The bond contract provides for early repayment if:
* Sale of all the units
All the documents associated with this fundraising are available in the "documentation" tab.
* VAT 10% in Corsica
Romain Pastinelli, 32, French:
Romain Pastinelli was employed at Soka Frane, a specialist in waterproofing and coating products from 2016 to 2018. A year ago, he created his company BGP Etanchéité.
Richard Graziani, 49, French:
Richard Graziani has been president of the companies GIE Seguy and plâtrerie Corse for 6 years. These companies specialise in electricity, plumbing, heating and air conditioning, plastering, interior and exterior joinery, and cladding. He is the holder of a contract for all building trades for the army and also builds villas.
As the company carrying the bond has just been created, no accounts are available at this time. The accounts presented are therefore those of SAS BGP Etanchéité Isolation, whose 2020 accounts are not yet available.
Balance sheet SAS BGP Etanchéité Isolation
Income statement SAS BGP Etanchéité Isolation
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Invest in Résidence Sainte-Lucie by Petra Nera,Porto-Vecchio, France