{"id":14959,"date":"2024-07-01T10:53:19","date_gmt":"2024-07-01T08:53:19","guid":{"rendered":"https:\/\/www.wecity.com\/oportunidades\/malaga-catedral\/"},"modified":"2025-03-13T17:15:56","modified_gmt":"2025-03-13T16:15:56","slug":"malaga-catedral","status":"publish","type":"oportunidades","link":"https:\/\/www.wecity.com\/en\/opportunities\/malaga-catedral\/","title":{"rendered":"M\u00e1laga-Catedral"},"content":{"rendered":"\n

WECITY complies with Law 5\/2015 and with Regulation<\/strong> (EU) 2020\/1503 of the European Parliament and of the Council<\/strong> of 7 October 2020 on European providers of crowdfunding services for companies. It is authorized by the CNMV<\/strong> as a Participatory Financing Platform registered under number 30<\/strong>, with a favorable proposal from the Bank of Spain<\/strong>.<\/p>\n\n\n\n

ILITUR HOMES SL<\/strong><\/strong><\/strong>,<\/strong> requests financing from wecity for this investment opportunity. Investor, before making your investment please read the basic information for the investor client<\/a>.<\/p>\n\n\n\n

Skin in the game: <\/strong>“In compliance with Article 8.2 of Regulation (EU) 2020\/1503 of the European Parliament and of the Council of 7 October 2020 on European providers of equity financing, we hereby inform you that partners, managers and employees of wecity may invest in this opportunity.<\/a> These investments will be made under the same conditions as those of other investors without receiving preferential treatment or privileged access to information.”<\/em><\/p>\n\n\n\n

<\/div>\n\n\n\n

The investment<\/strong><\/h2>\n\n\n\n

The investment opportunity<\/strong> consists of financing the construction costs<\/strong> for the refurbishment of 4 luxury homes in C\/ Santa Mar\u00eda 23, M\u00e1laga, a few meters from the Cathedral, <\/strong>as well as the cancellation<\/strong> of the mortgage charges<\/strong> that encumber the 4 homes in C\/ Santa Mar\u00eda 23 and the buildings in C\/ Zanca 1-3 and C\/ G\u00f3mez Salazar 14<\/strong> for a total amount of 577,389 \u20ac.<\/strong><\/p>\n\n\n\n

The homes, with a built surface area of 170m2<\/sup>(680m2 <\/sup>total surface area), have been designed with great attention to detail, including a penthouse with a terrace with excellent views of the Cathedral. The commercialization of the properties has started in June 2024. The project has a building permit, granted in October 2023.<\/p>\n\n\n\n

The financing will be provided through a mortgage loan of 1,250,000 \u20ac at a fixed rate with a 1st degree mortgage guarantee<\/strong> corresponding to PHASE I of a total loan that can reach a maximum of 2,450,000 \u20ac in III PHASES.<\/p>\n\n\n\n

The developer<\/strong> (Ilitur Homes) has contributed its own funds in the amount of \u20ac1,162,368<\/strong> (VAT included), which represents 47.44%<\/strong> of the funds required for the project. Phases II and III may be activated until the funds necessary for the execution of the project are reached.<\/p>\n\n\n\n

The wecity loan will have additional guarantees by mortgaging in 1st degree the following buildings owned by the developer:<\/p>\n\n\n\n

    \n
  • C\/ Lagunillas 41<\/li>\n\n\n\n
  • C\/ Lagunillas 43<\/li>\n\n\n\n
  • 34 G\u00f3mez Salazar St.<\/li>\n\n\n\n
  • C\/ Carrasco 14.<\/li>\n<\/ul>\n\n\n\n

    The repayment of the loan and the exit of the investors<\/strong> from wecity<\/strong> takes place with the sale and delivery of the 4 houses of C\/ Santa Mar\u00eda 23.<\/p>\n\n\n\n

    Through wecity you can participate in a fixed rate loan operation with an annual interest rate of 11% for an estimated term of 15 months<\/strong> (6 months of obligatory compliance) with the possibility of an extension of 6 additional months<\/strong>. The total estimated return is 13.75% for 15 months or 19.25% if the final term is 21 months with the extension. The payment of interest + the return of the invested capital will be made at maturity.<\/p>\n\n\n\n

    With a minimum investment of 500 \u20ac<\/strong>, you can participate in this opportunity with an excellent profitability and with maximum guarantees.<\/p>\n\n\n\n

    <\/div>\n\n\n\n
    \n

    Investment keys<\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/p>\n\n\n\n

      \n
    • Purpose of the loan:<\/strong> To finance the construction costs for the refurbishment of 4 houses in C\/ Santa Mar\u00eda 23 and to cancel the mortgage charges on the following assets: 4 houses in C\/ Santa Mar\u00eda 23, building in C\/ Zanca 1-3 and building in C\/ G\u00f3mez Salazar 34.<\/li>\n\n\n\n
    • Guarantee:<\/strong>1st<\/sup> degree mortgage on the assets.<\/li>\n\n\n\n
    • Additional guarantee: <\/strong>1st<\/sup> degree mortgage on the buildings at C\/ Lagunillas 41 and 43, C\/ G\u00f3mez Salazar 34 and C\/ Carrasco 14.<\/li>\n\n\n\n
    • Additional guarantee:<\/strong> irrevocable power of sale<\/li>\n\n\n\n
    • Term:<\/strong> 15 months<\/li>\n\n\n\n
    • Optional extension: <\/strong>6 months<\/li>\n\n\n\n
    • Annual interest rate:<\/strong> 11%.<\/li>\n\n\n\n
    • Estimated total return:<\/strong> 13.75%.<\/li>\n\n\n\n
    • Interest payment:<\/strong> at maturity.<\/li>\n\n\n\n
    • Marketing<\/strong>: 0%(0 of 4 uds.)<\/li>\n\n\n\n
    • Current ECO appraisal<\/strong> (Calle Santa Maria 23): 2,349,831 \u20ac.<\/li>\n\n\n\n
    • HET<\/strong> ECO appraisal <\/strong>( 23 Santa Maria St.): 5,397,791 \u20ac.<\/li>\n\n\n\n
    • Current ECO appraisal<\/strong> (total guarantees): 5.076.876 \u20ac | LTV:<\/strong> 24,62%<\/li>\n\n\n\n
    • HET ECO appraisal<\/strong> (total guarantees): 8.124.838 \u20ac <\/strong>| LTV: <\/strong>30,14%<\/li>\n\n\n\n
    • First drawdown:<\/strong> 794,265 \u20ac | LTV: <\/strong>15,64%<\/li>\n\n\n\n
    • Contributions:<\/strong>\n
        \n
      • Developer:<\/strong> \u20ac1,162,368 (47.44%)<\/li>\n\n\n\n
      • Wecity loan PHASE I:<\/strong> 1.250.000 \u20ac.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
      • Minimum investment:<\/strong> 500 \u20ac.<\/li>\n\n\n\n
      • Maximum investment<\/strong>: No limits<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n
        <\/div>\n\n\n\n

        ECO Appraisal and Mortgage Guarantee<\/h2>\n\n\n\n

        The current appraisal<\/strong> for mortgage guarantee purposes, (Order ECO 805\/2003) of the 4 dwellings at C\/ Santa Mar\u00eda 23, amounts to 2,349,831 \u20ac. The appraisal <\/strong>(HET) on the assumption <\/strong>of a completed building <\/strong>amounts to \u20ac5,397,790<\/strong>. The independent appraisal company in charge of identifying the value is GESVALT, <\/strong>whose corporate name is GESVALT Sociedad de Tasaci\u00f3n SA, and is registered<\/strong> as an approved appraisal company by the Bank of Spain <\/strong>under number 4455.<\/p>\n\n\n\n

        In addition, the following assets are mortgaged in 1st rank in this project:<\/p>\n\n\n\n

        1) The current appraisal<\/strong> for mortgage guarantee purposes, (Order ECO 805\/2003) of the building at C\/ Lagunillas 41, amounts to 198,801 \u20ac. The independent appraisal company in charge of identifying the value is GESVALT, <\/strong>whose corporate name is GESVALT Sociedad de Tasaci\u00f3n SA, and which is registered<\/strong> as an Approved Appraisal Company by the Bank of Spain <\/strong>under number 4455.<\/p>\n\n\n\n

        2) The current appraisal<\/strong> for mortgage guarantee purposes, (Order ECO 805\/2003) of the building at C\/ Lagunillas 43, amounts to 1,301,057 euros. The independent appraisal company in charge of identifying the value is GESVALT, <\/strong>whose corporate name is GESVALT Sociedad de Tasaci\u00f3n SA, and which is registered<\/strong> as an Approved Appraisal Company by the Bank of Spain <\/strong>under number 4455.<\/p>\n\n\n\n

        3) The current appraisal<\/strong> for mortgage guarantee purposes, (Order ECO 805\/2003) of the building at C\/ G\u00f3mez Salazar, 34, amounts to 590,935 \u20ac. The independent appraisal company in charge of identifying the value is GESVALT, <\/strong>whose corporate name is GESVALT Sociedad de Tasaci\u00f3n SA, and which is registered<\/strong> as an Approved Appraisal Company by the Bank of Spain <\/strong>under number 4455.<\/p>\n\n\n\n

        4) The current appraisal<\/strong> for mortgage guarantee purposes, (Order ECO 805\/2003) of the building at C\/ Carrasco, 14, amounts to 636,255 \u20ac. The independent appraisal company in charge of identifying the value is GESVALT, <\/strong>whose corporate name is GESVALT Sociedad de Tasaci\u00f3n SA, and which is registered<\/strong> as an Approved Appraisal Company by the Bank of Spain <\/strong>under number 4455.<\/p>\n\n\n\n

        The total value of the current ECO appraisals <\/strong>of the mortgaged assets amounts to \u20ac 5,076,879<\/strong>. This represents a Loan to Value<\/strong> (LTV) over the current appraisal of 24.62%<\/strong>.<\/p>\n\n\n\n

        The total value of the ECO HET appraisals<\/strong> of the mortgaged assets amounts to \u20ac8,124,838<\/strong>. This represents a Loan to Value<\/strong> (LTV) over current appraisal of 30.15%<\/strong>.<\/p>\n\n\n\n

        The Loan to Value<\/strong> (LTV) on first drawdown <\/strong>is 15.64%<\/strong>.<\/p>\n\n\n\n

        <\/div>\n\n\n\n

        The project<\/h2>\n\n\n\n
        \"\"<\/figure>\n\n\n\n
        \"\"<\/figure>\n\n\n\n
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        <\/div>\n\n\n\n

        Location<\/h2>\n\n\n\n

        Malaga<\/strong>, located on the Costa del Sol, has a varied real estate offer, ranging from elegant apartments in the historic center to modern villas and exclusive penthouses overlooking the Mediterranean.<\/p>\n\n\n\n

        The city has a first class infrastructure, including prestigious educational institutions such as St. George’s International School<\/strong> and medical services such as the Vithas Xanit International Hospital<\/strong>. Malaga is a renowned cultural center, with numerous museums such as the Picasso Museum and the Pompidou Center,<\/strong> as well as a wide range of gastronomic and leisure options.<\/p>\n\n\n\n

        For sports enthusiasts, Malaga offers a variety of options, from high quality golf courses to modern water sports facilities and hiking in the nearby Montes de Malaga Natural Park<\/strong>. Its year-round sunny climate, together with its excellent connectivity, thanks to its proximity to Malaga International Airport and the public transport network, make Malaga an attractive place to live and invest.<\/p>\n\n\n\n