We present to you Residencial Borbón Norte III, the third phase of this fixed-rate development with first mortgage guarantee, which consists of financing the cancellation of the previous mortgage charge on the land (already cancelled), as well as the construction costs and other associated expenses for the real estate development of a development of 11 homes in, Murcia (Spain).
Since the second phase of the project was financed, the state of the work has advanced to 88.20% with 100% of the structure of the building completed and 8 of the 11 homes already sold, representing 73% of the development.
The development consists in 11 flats of 2, 3 and 4 bedrooms with terrace, garage, and storage room, distributed on the ground floor and four upper floors.
Ground floor:
First floor:
Second floor:
Penthouse:
The total built area of the development is 1,284 m2.
The building permit was granted by the Murcia City Council on 02/04/2019.
This loan of €235,000 corresponds to the third and last tranche of a project of €1,085,000. The total amount of the project has been modified by the Platform, reducing the amount of the third tranche by €15,000, as it has been established with the promoter that the typology and characteristics of the project make it advisable so that the execution deadlines are not affected, being within 90% of the target amount of financing for the Opportunity, all in accordance with Law 5/2015.
The property, which is the object of this project, situated at Calle Pintor José María Párraga 4, Churra, Murcia (Spain), will be mortgaged by the developer as security for the loan.
The investors entering this new tranche of the project will be added to the mortgage guarantee already granted by the developer to the investors of the earlier tranches, joining it as a single first-rank mortgage guarantee for all the investors of the different tranches.
According to the valuation certificate issued by Valum valuation institute on 13 March 2023, the current valuation of the mortgaged property amounts to €1,262,186.43 (one million two hundred and sixty-two thousand one hundred and eighty-six euros and forty-three cents).
Therefore, the valuation of the mortgaged property on the loan is 143.24% (Mortgage value €1,554,187.63/Loan amount €1,085,000). The LTV (Loan To Value) of the project is 69.81% (loan amount €1,085,000/current appraised value €1,554,187.63).
The appraised value of the property offered as collateral in this phase has increased from €1,262,186.43 to €1,554,187.63 (current tranche III) due to the progress made in the work as projected in the business plan. The estimated value of the property in the completed scenario according to the comparison method amounts to €2,190,255.54.
The chosen Guarantee Agent is Bondholders, a 25+-year-old professional firm providing independent corporate trust and loan agency services. Bondholders are not affiliated with any financial services group. They currently meet the requirements of several international jurisdictions including Spain, Portugal, Italy, England or New York.
They have extensive experience in financial sectors (Bankia, Santander, Deutsche Bank, ...) and in various sectors (FC Barcelona, El Corte Inglés, Vista Alegre, TAP Portugal, Telefónica...).
The developer is ALCANTIMUR S.L., a specialist in the acquisition, development and marketing of buildings and plots of land in Alicante and Murcia.
This is the third tranche of the first project of the promoter in Housers. The promoter may apply for other loans in the future through the platform to obtain financing for the completion of other projects, within the legal limits and provided that its financial situation allows it. Thus, the degree of future leverage of the company may therefore be higher.
The monitoring company PROYECTOS CIGA will carry out the monitoring of this project, having permanent control of the destination of the capital provided by the investors and delivering this capital to the developer according to an agreed schedule after delivery of justification of compliance with certifications. To this end, the developer and the monitoring company will open a escrow account where the funds financed by the investors will be transferred in such a way that each provision to the developer must be justified to the monitoring company and therefore the full amount of the loan will not be delivered to the developer at once.
The building is in Calle Pintor José María Párraga 4, Murcia. Its distance to the centre of Murcia is 3.5 kilometres and and being close to it:.
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 % 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 8% + VAT being the commission financed within the opportunity.
Housers complies with the law 5/2015 and is authorized by the CNMV as a Participatory Financing 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 provide 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 authorization 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 for 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 constitute any guarantee of future results.
Both the financing objective and the maximum term to invest in this opportunity may be extended by an additional 25% to the initially planned term, by Law 5/2015, of 27 April, on the promotion of business financing. Likewise, Housers will be able to close the financing of this opportunity/project when it has been 90% financed. These possibilities that the legislation offers to the platform will be used when the typology and characteristics of the project make it advisable so that the execution deadlines are not prejudiced. You can find more information here.
In accordance with Law 5/2015, of 27 April, on the promotion of business financing, regarding the participation of Participatory Financing Platforms or their related persons in projects published on its website, it is reported that this project is susceptible that related persons, in accordance with Housers' Internal Rules of Conduct, may acquire the status of investors and therefore lenders. The final amount and participation of these persons will be informed to all investors of the project once the financing of the project has been completed.
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 art. 61 of the Law 5/2015 on the Promotion of Entrepreneurial Financing, Housers proceeds to inform the investor of the risks that he/she will run by investing in this project:
• Risk of total or partial loss of the invested capital: the main risk associated with any type of investment is the total or partial loss of the money invested, as well as the probability that the return obtained, will be lower than expected or estimated. In general, the higher the return on an investment, the higher the risk.
• Risk of not obtaining the expected financial return: there is no such thing as a safe investment. There is always a risk of losing everything invested or of not obtaining the expected financial return. Investments are based on future expectations that may not necessarily be realized, so the expected financial return on the investment may never occur or may occur differently than expected.
• Operational risk: failures or problems in systems, people or operational flows can have a significant impact on the investment. In any activity in any market, there is always an operational risk.
• Inflation risk: the possibility of rising inflation may cause the return on investment to decline due to the inevitable loss in the value of money in such circumstances.
• Risk of Lack of liquidity: investing in this project may mean that the investor may not be able to dispose of the money invested when required, having to pay attention to the estimated timeframe for the liquidity of the investment and the obtaining of the corresponding return.
• Risk of not being able to influence the management of the developer: investors, as borrowers, like any other person outside a commercial company, have no right to influence the management of the developer or its assets unless this is provided for in the investment contract, and the investment contract may influence the developer's management of the developer.
• Fraud risk: as in any other economic operation, there is a risk of fraud due to improper use of the money obtained for the project. To minimize this risk, the drawdowns of the loan amount that are delivered to the developer will be made using a company external to Housers that will monitor the progress of the project, making the drawdowns to the developer according to a calendar of drawdowns and after administratively verifying the fulfilment of each previous milestone of the calendar. The amounts of the loan not drawn down by the developer while waiting to reach the next milestone of the drawdown calendar will always be in the Housers Account of the developer in the payment entity used by the platform ("Lemonway") until the developer requests the drawdown, which will be authorized by the monitoring company if the developer meets the requirements established by the monitoring company.
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.
