We present Vera Residencial, a project by the same developer of the Puerta de Oriente and Vera Playa projects, both of which were repaid early with a final IRR higher than expected.
Vera Residencial is a fixed-rate project with a first-degree mortgage guarantee, aimed at financing the expenses for the real estate development and construction of block 2 of the Puerta de Oriente urbanization, a building with 14 apartments.
The urbanization consists of 8 blocks:
The total built area of the development is 1,283.41 m².
The distribution of the apartments is as follows: ground floor (5 apartments), first floor (5 apartments), and second floor (4 apartments).
Of the 14 apartments in the project, 9 are already reserved, which is more than 64% of the development.
The total duration of the project will be 18 months with a possible extension of an additional 3 months with a TIN of 9.5%.
The exit of the Housers loan will take place upon the delivery of the apartments at the end of the project.
This €400,000 loan corresponds to the first tranche of a €1,300,000 project (three phases of the project are planned)..
The mortgage guarantee provided by the developer consists of the 14 apartments that are the subject of the project, located in Sector R-13 of Vera, on parcel 2.5 of the Puerta de Oriente Urbanization in Vera, Almería, Spain.
According to the appraisal certificate carried out by Tinsa on 18/03/2024, the current mortgage value/appraisal of the described property amounts to €1,231,622.18.
Therefore, the appraisal of the mortgaged property relative to the loan is 307.90% (mortgage value €1,231,622.18 / loan amount €400,000). The Loan To Value (LTV) of the project is 32.47% (loan amount €400,000 / current appraisal value €1,231,622.18). The estimated value of the property in a completed scenario according to the comparison method amounts to €2,743,942.98.
The Guarantee Agent chosen for this project is Collateral Gestión S.L., a professional firm with experience in financial sectors that provides advisory services and fiduciary services in the issuance of bonds, guarantees, or other securities. Collateral Gestión S.L. is not affiliated with any financial services group.
The developer of the project is Promotora Caporchanes S.L, a company with extensive experience in real estate development and building construction. The developer had a share capital of €3,000 as of 31/12/2022 and equity of €3,000 as of 31/12/2022.
The developer has successfully completed two other projects with Housers: the Puerta de Oriente project and the Vera Playa project, returning both projects to investors ahead of schedule and with a higher-than-expected IRR.
The developer may request additional loans through the platform in the future to obtain financing for other projects, within legal limits and provided that their financial situation permits it. Thus, the future leverage of the company may be higher.r.
The scoring is carried out by GLOVAL.
Glóval is a benchmark firm in comprehensive valuation, engineering, consultancy, and data analysis services. The result of the integration in 2017 of companies with a solid market position, more than 70 years of accumulated experience, and more than 5 million valuations carried out, it provides services throughout the value chain of the real estate sector.
The company has a team of more than 1,000 professionals, a nationwide presence, and international coverage through its presence in countries such as Portugal, Greece, Brazil, Cape Verde, Angola, and Mozambique. Glóval has the confidence of the main players in the real estate sector and its current diversification strategy is focused on increasing its portfolio of services, meeting the needs of new sectors and clients, and continuing its international expansion.
For more information, visit www.gloval.es.
GLOVAL will carry out the monitoring of this project, having a permanent control of the destination of the capital provided by the investors and delivering this capital to the promoter according to an agreed schedule after delivery of justification of compliance with certifications. To this end, the promoter and the monitoring company will open an escrow account where the funds financed by the investors will be transferred in such a way that each provision to the promoter must be justified to the monitoring company, thus not delivering the full amount of the loan to the promoter at once. To this end, the Platform will take the necessary steps to open the opportunity account in the collaborating payment institution (Lemonway), the holder of which will be the company promoting the Participatory Financing Offer. The funds will be made available through the verifying company by means of a schedule of drawdowns in which all the project expenses to be met by the promoter will be duly justified.
The project is located in the Puerta de Oriente Urbanization, in the El Playazo area of Vera, a coastal town in the province of Almería, Spain.
Highlights of the location:
The “Puerta de Oriente” urbanization is located just 2 km from the future AVE station in Vera, within the Mediterranean corridor, placing Vera in the exclusive group of municipalities on the Spanish Mediterranean coast with high-speed train stations.
Housers will not charge any fee to the investor for this opportunity. The developer will be charged a fee that is determined based on a 6% of the funds raised for the project, provided that the project is successfully closed, i.e., that the funding target published on the platform is reached. In case it is not successfully closed, Housers will not charge this fee. Once the campaign is finished and as a previous step to the delivery of the money to the developer, this commission is deducted from it in favour of Housers. It does not affect the final profitability obtained by the investors, since the developer is the one who assumes its cost. In this opportunity, Housers' commission is 6.5% + VAT being the commission financed within the opportunity.
Housers complies with Regulation (EU) 2020/1503 of the European Parliament and of the Council of 7 October 2020 on European providers of equity finance services for businesses, and amending Regulation (EU) 2017/1129 and Directive (EU) 2019/1937 and is authorised by the CNMV as a Participatory Finance Platform registered under number 20.
Housers is not a credit institution or an investment services company. It is not a member of any investment guarantee fund or deposit guarantee fund. Therefore, the invested capital is not covered by these funds.
Housers is neither a credit institution nor an investment services company nor does it supply financial advice, so nothing on this website should be interpreted as such. The information on this page is for general information purposes only and does not constitute specific advice.
The participatory financing projects published on the website are not subject to authorisation or supervision by the Comisión Nacional del Mercado de Valores or the Bank of Spain or any other national or foreign regulator. The information provided by the developer has not been reviewed by the CNMV and does not constitute a prospectus approved by the CNMV.
The developer of the project is responsible to investors for the information it has provided to the crowdfunding platform for publication within the project on the website. The information shown has been prepared by Housers based on available information provided by the developer. Neither Housers nor its collaborating companies or suppliers accept responsibility or liability concerning the accuracy or sufficiency of the information referred to in the project. The statements or declarations with future projections refer exclusively to the date on which they were expressed, they do not form any guarantee of future results.
Before investing in this project, the investor must know the risks of his investment: Housers recommends carefully reading the Basic Information for the Investor.
In compliance with Article 2.1 of Regulation (EU) 2020/1503 of the European Parliament and of the Council of 7 October 2020 on European providers of equity crowdfunding services for businesses, and amending Regulation (EU) 2017/1129 and Directive (EU) 2019/1937, Housers hereby informs investors of the risks they will run when investing in this project:
The invested capital is not guaranteed by the investment guarantee fund or the deposit guarantee fund.
Investment in real estate should be conducted as a diversification strategy of a larger portfolio, and investment in projects published on the Housers platform is not recommended for people who do not have sufficient knowledge to understand the risks of investing in projects published by the crowdfunding platform.
