Description
wecity complies with Law 5/2015, is authorized by the CNMV as a Participatory Financing Platform registered under number 30, with a favorable proposal from the Bank of Spain.
Grupo Re-aviva, through the vehicle company Shiva Desarrollo SL, requests financing from wecity for this investment opportunity.
Investor, before making your investment, please read the basic information for the investor client. Past returns do not guarantee future returns.
Project Summary
Investment consists of financing, through a first-grade fixed-rate mortgage loan, the acquisition and renovation of two commercial premises into 4 tourist apartments, along with 3 parking spaces. These premises are located in a building at 263 Arturo Soria Street, Madrid, and currently have a total constructed area of 163 m2.
The apartments will be loft-style and will have 3 parking spaces each, with independent access from within the property. The license is being processed through ECU (Collaborating Urban Entities).
The developer is requesting a loan from wecity in the amount of €600,000, with a first-grade fixed-rate mortgage guarantee.
Through wecity, you can participate in a fixed-rate loan operation with an annual interest rate of 10% and an estimated duration of 12 months (6 months of mandatory compliance) with a possibility of a 3-month extension. The total estimated return is 10% over 12 months or 12.50% if the final term includes the 3-month extension. The payment of interest + the return of the invested capital will be made at maturity.
The payment of interest + the return of the invested capital will be made at maturity.
With a minimum investment of €500 and no investment limit, you can participate in this opportunity with excellent profitability and maximum guarantees.
“If I invest €100,000, I will have an estimated total profit of €10,000.”
Valuation
The current appraisal value of the plot for mortgage guarantee purposes (according to Order ECO 805/2003) amounts to €512,216.
The Loan to Value (LTV) based on the current appraisal value is 117.14%.
The Loan to Value (LTV) based on the first disbursement is 57.88%
Project
Transform two commercial premises into 4 tourist apartments. These premises are located on the ground floor of a building at 263 Arturo Soria Street, Madrid, and currently have a total constructed area of 163 m².Transformar dos locales comerciales en 4 apartamentos para uso turístico.
Distribution plan for 4 apartments
Facade of the Arturo Soria 263 building
Photographs of other similar projects carried out by Re-aviva.
Photographs of other similar projects carried out by Re-aviva.
Location and Areas
Arturo Soria Street, Madrid.
Arturo Soria Street is the main thoroughfare in the Ciudad Lineal district and one of the most pleasant and sought-after residential areas to live in Madrid.
Areas such as Parque Conde Orgaz, Canillas, Pinar del Rey (in the Hortaleza district), the Colina neighborhood, Atalaya, and ending in Pinar de Chamartín (among many other neighborhoods) contribute to the unique charm of these areas. They offer a perfect combination of green spaces, excellent transportation connections, with the heart of the Salamanca district just 15 minutes away. These neighborhoods also feature gated communities with swimming pools and gardens, as well as a variety of chalets in different sizes and styles.
Collateral
The loan will have a first-grade mortgage guarantee on the two premises located in the semi-basement of the building at Arturo Soria Street 263.
The independent valuation company responsible for determining the value is TASVALOR, whose official name is GRUPO TASVALOR SA, and it is registered as an Approved Valuation Company by the Bank of Spain with number 4,631.
According to the appraisal report conducted by TASVALOR, the current appraisal value of the plot amounts to €512,216.
The loan to be provided to the cooperative is €600,000, which represents a Loan to Value ratio of 117.14% based on the current appraisal value.
Security Agent
The establishment, maintenance, management, administration, and, if necessary, execution of real estate mortgage rights on behalf of investors will be handled by an external entity to wecity.
In this case, the designated Guarantors Agent is BONDHOLDERS.
BONDHOLDERS is a specialized professional company primarily providing trustee and independent agent services for various asset classes under numerous international jurisdictions.
In recent years, BONDHOLDERS has been appointed as an agent and trustee in over 400 transactions representing a total of approximately €200 billion in debt.
Among its main clients are financial institutions, institutional clients, asset managers, and sovereign government agencies, among others.
Currently, BONDHOLDERS is one of the leading providers of independent fiduciary services in Europe.
Monitoring
The developer must provide justification for the use of funds in each disbursement they request. The utilization of funds by the developer will be monitored by an external company separate from wecity.
Bullet Points:
- Investment Type: Fixed-rate loan.
- Interest Payment: At maturity.
- Primary Guarantee: First-grade mortgage.
- Additional Guarantee: REAVIVAL REBUILDING SL acts as a guarantor for the loan as a solidary guarantor.
- Loan Object:
- Property No. 2488, Volume 1,100, Book 57, Page 105, CRU 28094000195787.
- Property No. 2603, Volume 1,111, Book 60, Page 72, CRU 2809400019661.
- Property No. 2890, Volume 1,123, Book 65, Page 179, CRU 28094000199273.
- Property No. 2891, Volume 1,123, Book 65, Page 182, CRU 28094000199280.
- Property No. 2892, Volume 1,123, Book 65, Page 185, CRU 28094000199297.
- Promoter’s Contribution and wecity Investors:
- Shiva Desarrollo SL: €200,000 of own funds.
- wecity Investors: €600,000.
- Property Type: Multi-family residential.
- Interest Rate: 10% annually.
- Estimated Total Return: 10%.
- LTV based on Current Appraisal: 117.14%.
- Loan Term: 12 months.
- Minimum Investment: €500.
