{"id":18538,"date":"2025-03-18T13:23:51","date_gmt":"2025-03-18T12:23:51","guid":{"rendered":"https:\/\/www.wecity.com\/oportunidades\/vizcaya-ermua\/"},"modified":"2025-03-20T18:03:02","modified_gmt":"2025-03-20T17:03:02","slug":"vizcaya-ermua","status":"publish","type":"oportunidades","link":"https:\/\/www.wecity.com\/en\/opportunities\/vizcaya-ermua\/","title":{"rendered":"Vizcaya-Ermua"},"content":{"rendered":"\n<p>WECITY complies with the provisions of Regulation (EU) 2020\/1503 of the European Parliament and of the Council of 7 October 2020 on European providers of participative financing services for companies and Title V of Law 5\/2015 on the promotion of business financing as amended by Law 18\/2022 of 28 September on the creation and growth of companies. It is authorized by the <strong>CNMV<\/strong> as a Participatory Financing Service Provider, registered in the registry under number 9, with a favorable proposal from the <strong>Bank of Spain<\/strong>.<\/p>\n\n\n\n<p>Investor, before making your investment, please read the <a href=\"https:\/\/www.wecity.com\/en\/basic-information-for-the-investing-client\/\" target=\"_blank\" rel=\"noreferrer noopener\">basic information for the investor client<\/a>, as well as the <a href=\"https:\/\/www.wecity.com\/en\/basic-information-for-the-investing-client\/#periodo_reflexi%C3%B3n\">pre-contractual cooling-off period for inexperienced investors<\/a>.<\/p>\n\n\n\n<p><strong>Skin in the game<\/strong>: <em>&#8220;In compliance with Article 8.2 of Regulation (EU) 2020\/1503 of the European Parliament and of the Council of October 7, 2020 on European providers of equity financing, it is hereby informed that in this opportunity <a href=\"https:\/\/www.wecity.com\/en\/team\/\" target=\"_blank\" rel=\"noreferrer noopener\">partners, managers and employees of wecity<\/a> may invest. These investments will be made under the same conditions as those of other investors without receiving preferential treatment or privileged access to information.&#8221; <\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">The investment<\/h2>\n\n\n\n<div class=\"wp-block-group is-style-border-radius has-background\" style=\"background-color:#f5f7f6\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<ul class=\"wp-block-list\">\n<li><strong>Purpose of the loan:<\/strong> To finance construction and technical costs.<\/li>\n\n\n\n<li><strong>Type: <\/strong>Fixed-rate loan.<\/li>\n\n\n\n<li><strong>Guarantee:<\/strong> First-rank mortgage guarantee.<\/li>\n\n\n\n<li><strong>Term:<\/strong> 9 months (+3 months possible extension).<\/li>\n\n\n\n<li><strong>Obligatory compliance:<\/strong> 6 months.<\/li>\n\n\n\n<li><strong>Interest rate:<\/strong> 11.5% per annum.<\/li>\n\n\n\n<li><strong>Interest payment:<\/strong> at maturity.<\/li>\n\n\n\n<li><strong>Current appraisal (ECO):<\/strong> 4,232,165.11\u20ac <strong>| Current LTV<\/strong>: 47.14%<\/li>\n\n\n\n<li><strong>Current<\/strong> <strong>appraisal (ECO):<\/strong> 4,232,165.11\u20ac <strong>| Current LTV: <\/strong>47.14%<\/li>\n\n\n\n<li><strong>First drawdown: <\/strong>1,720,226.70\u20ac<strong> | LTV 1st drawdown: <\/strong>40.65%<\/li>\n\n\n\n<li><strong>Rating<\/strong>: <a href=\"https:\/\/www.wecity.com\/en\/risk-assessment-model\/\" target=\"_blank\" rel=\"noreferrer noopener\">AA<\/a><\/li>\n\n\n\n<li><strong>Contributions:<\/strong><ul><li><strong>Wecity loan<\/strong>: 1,995,000\u20ac<\/li><\/ul>\n<ul class=\"wp-block-list\">\n<li><strong>Developer:<\/strong> 1,018,630\u20ac<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Minimum investment:<\/strong> 500\u20ac<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<p>The development company <strong>Residencial Etxeberrieta SL<\/strong> is seeking funding through wecity to finance the acquisition and demolition of a former industrial building located at 15 Avenida Gipuzkoa, in Ermua, <strong>Biscay<\/strong>, with the aim of developing a residential development of 64 homes.<\/p>\n\n\n\n<p>The plot has an area of 2,463.04 m\u00b2, and the demolition of the existing building will allow the land to be prepared for the subsequent real estate development.<\/p>\n\n\n\n<p>The developer has <strong>applied for the Building Permit<\/strong> and it is expected to be granted in the third quarter of 2025.<\/p>\n\n\n\n<p>For the project to go ahead, final approval from the Ermua General Urban Development Plan is required. (It was initially approved by the <strong>Town Council of Ermua<\/strong> on June 20, 2024, and provisionally at the municipal plenary session in October). The specific modification file is expected to receive its <strong>Definitive Approval<\/strong> during the month of March.<\/p>\n\n\n\n<p>The project will be financed through a mortgage <strong>loan for the amount of \u20ac1,995,000 at a fixed rate, with a first-degree mortgage guarantee<\/strong> on the asset.<\/p>\n\n\n\n<p>The <strong>developer will contribute its own funds<\/strong> in the amount of <strong>\u20ac1,018,630<\/strong>, which will be used to acquire the asset.<\/p>\n\n\n\n<p>The <strong>repayment of the loan<\/strong> to investors will occur with the entry of bank financing.<\/p>\n\n\n\n<p>Through wecity you can participate in a <strong>fixed-rate loan operation with an<\/strong> annual <strong>interest rate of 11.5% in an estimated term of 9 months<\/strong> (6 mandatory) with the possibility<strong> of an<\/strong> extension of 3 additional months.<\/p>\n\n\n\n<p>The payment of interest plus the return of the invested capital will be made<strong> at maturity<\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Location and surroundings<\/h2>\n\n\n\n<iframe src=\"https:\/\/www.google.com\/maps\/embed?pb=!1m18!1m12!1m3!1d2909.3798093681808!2d-2.5007512266163174!3d43.18054087112849!2m3!1f0!2f0!3f0!3m2!1i1024!2i768!4f13.1!3m3!1m2!1s0xd4e2afdcf1d70f5%3A0xbd1a1ed3bf1e545!2sAv.%20Gipuzkoa%2C%2015%2C%2048260%20Ermua%2C%20Vizcaya!5e0!3m2!1ses!2ses!4v1742299072844!5m2!1ses!2ses\" width=\"800\" height=\"600\" style=\"border:0;\" allowfullscreen=\"\" loading=\"lazy\" referrerpolicy=\"no-referrer-when-downgrade\"><\/iframe>\n\n\n\n<p><strong>The town of Ermua<\/strong> is located in the heart of the Basque Country and is known for its peaceful atmosphere and its easy access to nearby large cities such as Eibar and Bilbao. The real estate market in this area is characterized by a mixture of traditionally built homes and more modern buildings, offering options for different buyer and investor profiles.<\/p>\n\n\n\n<p>In addition to its excellent transport links, Ermua has a wide range of services, such as schools, health centers, local shops and restaurants. The church of Santiago Ap\u00f3stol and the palace of Valdespina are some of its points of historical and cultural interest.<\/p>\n\n\n\n<p>The area is ideal both for those looking for a quiet place to live and for those who wish to invest in an area with constant growth and good opportunities.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Collateral and appraisal<\/h2>\n\n\n\n<p>The loan will be secured by a first<sup>-rank<\/sup> mortgage on the asset located at Avenida Gipuzkoa 15, Vizcaya.<\/p>\n\n\n\n<p>According to the appraisal report carried out by <strong>RISC VALOR<\/strong>, the current appraisal amounts to 4,232,165.11\u20ac. The loan to be made to the developer is <span style=\"font-size: revert; color: initial; font-family: -apple-system, BlinkMacSystemFont, &quot;Segoe UI&quot;, Roboto, Oxygen-Sans, Ubuntu, Cantarell, &quot;Helvetica Neue&quot;, sans-serif;\">1.995.000\u20ac<\/span>, which represents a Loan to Value (LTV) on the current valuation of 47.14%.<\/p>\n\n\n\n<p>Finally, the first drawdown of the loan is 1,720,226.70\u20ac, which represents an LTV of 1st drawdown of 40.65%.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Collateral agent<\/h2>\n\n\n\n<p>The constitution, conservation, management, administration and, if applicable, enforcement of the pledge on behalf of wecity&#8217;s investors shall be carried out by an entity external to wecity.<\/p>\n\n\n\n<p>In this case, the designated Collateral Agent will be the one indicated in the Fundamental Data Sheet of the investment.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" style=\"font-size:24px\">Rating<\/h2>\n\n\n\n<p>wecity, as a provider of equity financing services and in compliance with Delegated Regulation (EU) 2024\/358 supplementing Regulation (EU) 2020\/1503 of the European Parliament and of the Council, provides a <a href=\"https:\/\/www.wecity.com\/en\/risk-assessment-model\/\" target=\"_blank\" rel=\"noreferrer noopener\">description of the credit rating method<\/a><br> of the projects used to calculate the ratings. If the calculation is based on accounts that have not been audited, this shall be clearly stated in the description of the method. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Monitoring<\/h2>\n\n\n\n<p>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 a company external to wecity.<\/p>\n","protected":false},"featured_media":18519,"template":"","class_list":["post-18538","oportunidades","type-oportunidades","status-publish","has-post-thumbnail","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.wecity.com\/en\/wp-json\/wp\/v2\/oportunidades\/18538","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.wecity.com\/en\/wp-json\/wp\/v2\/oportunidades"}],"about":[{"href":"https:\/\/www.wecity.com\/en\/wp-json\/wp\/v2\/types\/oportunidades"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.wecity.com\/en\/wp-json\/wp\/v2\/media\/18519"}],"wp:attachment":[{"href":"https:\/\/www.wecity.com\/en\/wp-json\/wp\/v2\/media?parent=18538"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}