wecity.io complies with Law 5/2015 and with Regulation (EU) 2020/1503 of the European Parliament and of the Council of 7 October 2020 on European providers of crowdfunding services for companies.
It is authorized by the CNMV as a Participatory Financing Platform registered under number 30, with a favorable proposal from the Bank of Spain.
Desarrollos Ilex Alcobendas SL is requesting financing from wecity for this investment opportunity, which consists of a bridge loan with a 1st degree mortgage guarantee to finance 50% of the purchase of land located at Camino Viejo de Burgos 25 B, Valdebebas (Madrid).
Investor, before making your investment read the basic information for the investor client. Past benefits does not guarantee future benefits.
Desarrollos Ilex Alcobendas SL presents an opportunity for a Fixed Rate Loan with 1st Degree Mortgage Guarantee.
The land has a total surface area of approximately 1,289 sqm and is currently in the process of obtaining a subdivision license for the division of the plot into 4 independent units, and the subsequent processing of the building license by ECU (Entidades Colaboradoras Urbanísticas).
The promoter’s future business plan is the construction of 4 semi-detached villas with private garden and swimming pool. As this is a bridge loan, it will not be necessary to wait for construction or sales, since the exit for wecity investors is foreseen by obtaining bank financing or with the promoter’s own funds.
The promoter contributes approximately 50% of its own funds (€ 686,887) on the total purchase transaction (€ 1,386,887), in addition to 100% of the documented reserves, which demonstrates its high commitment with the project.
The promoter requests a € 700,000 fixed-rate loan from wecity for the purchase of the land. This loan has a 1st degree mortgage guarantee on the plot.
Through wecity you can participate in a fixed rate loan opportunity with an annual interest rate of 9% for an estimated term of 12 months. The total estimated return is 9%. The interest payment + the return of the invested capital will be made at maturity (month 12).
With a minimum investment of € 500 and no maximum investment limit, you can participate in this opportunity with an excellent profitability and with the maximum guarantees.
It is expressly stated that the formalization of the loan deed may be delayed, due to the need for approval by the seller of the controls on prevention of money laundering and financing of terrorism (PBCFT), so that the accrual of interest will begin, either in the usual 15 days, or in compliance with the PBCFT.
“If I invest € 100.000 i will have an estimated total profit of € 9.000 ”
Appraisal and Rating
The current appraisal for mortgage guarantee purposes (ECO Order 805/2003) amounts to € 2,297,577.76. This represents a Loan to Value (LTV) over the current appraisal of 30.47%.
An external rating of the project has been requested from JLL, which gave it an AA rating.
The future project involves the construction of 4 semi-detached villas, with private garden and swimming pool.
Environment and Location
The project is located in Valdebebas, Hortaleza-Barajas district (Madrid).
Valdebebas is the major urban development project in the north of the city of Madrid. More than 11,000 people already live in the area, and new residents are constantly being added to the existing housing developments. The identity and character of the apartments in Valdebebas in its successive stages is to be part of the creation of a new urban quality area with economic activity, quality housing, state-of-the-art facilities, green spaces, and perfect communication with the rest of the city and its surroundings.
The loan will be secured by a 1st degree mortgage on the land located at Camino Viejo de Burgos 25 B, Valdebebas (Madrid).
The independent appraisal company in charge of identifying the value of the plot is KRATA, whose corporate name is KRATA SA SOCIEDAD DE TASACIÓN and is registered as an approved appraisal company by the Bank of Spain under number 4323.
According to the appraisal reported by KRATA, the current appraisal amounts to € 2,297,557.76.
The loan to be made to the promoter is € 700,000, corresponding to the 50% of the total purchase price, which amounts to € 1,386,887. This represents a Loan to Value over current appraisal of 30,47%.
The constitution, preservation, management, administration and, if applicable, enforcement of the real estate mortgage rights on behalf of the investors will be carried out by an entity external to wecity.
In this case the designated Collateral Agent is BONDHOLDERS.
Bondholders, is a professional company specialized mainly in providing independent commission agent and escrow services over different asset classes and under numerous international jurisdictions.
In recent years Bondholders has been mandated as agent and arranger in more than 400 transactions representing a total of nearly 200 billion euros in debt.
Its main clients include, among others, financial institutions, institutional clients, asset managers, sovereign government agencies.
Currently one of the leaders in Europe in providing independent fiduciary services.
The promoter must justify the use of the funds in each of the applications.
The use of the funds by the promoter will be monitored by an external company.
· Investment Typology: Fixed Rate Loan.
· Interest Payment: at maturity (month 12)
· Guarantee: First degree mortgage
· Loan Object:
Financing the expenses of the purchase-sale of the Property nº 34.122 of Madrid, registered in the Property Registry nº 12, located in Camino Viejo de Burgos nº 25, C.P. 28050, CRU: 28098000248573 and Cadastral Reference: 6717214VK4861F0001HR.
· Promoter and wecity investors contribution:
· Desarrollos Ilex Alcobendas SL: 50% of own funds (€ 686.887) for the purchase of the land (€ 1.386.887), as well as documented reserves of 100% (4 houses of 4)
· wecity investors: € 700,000
· Typology: Residential
· Annual Fixed Rate: 9%
· Total Estimated Profit: 9%
· LTV current appraisal: 30,47%
· Estimated loan term: 12 months
· Minimum investment: € 500