{"id":5577,"date":"2023-05-31T18:18:08","date_gmt":"2023-05-31T16:18:08","guid":{"rendered":"https:\/\/www.wecity.com\/oportunidades\/tarragona-costa-dorada\/"},"modified":"2023-07-17T12:28:56","modified_gmt":"2023-07-17T10:28:56","slug":"tarragona-costa-dorada","status":"publish","type":"oportunidades","link":"https:\/\/www.wecity.com\/en\/opportunities\/tarragona-costa-dorada\/","title":{"rendered":"Tarragona-Costa Dorada"},"content":{"rendered":"\n

wecity is in compliance with Law 5\/2015 and Regulation (EU) 2020\/1503 of the European Parliament and the Council of 7 October 2020 concerning European providers of participatory financing services for businesses. It is authorized by the CNMV<\/strong> (National Securities Market Commission) as a Participatory Financing Platform registered under number 30, with a favorable recommendation from the Bank of Spain.<\/p>\n\n\n\n

Sotabento, through BLM Invest & Development SL, is seeking financing from weCity for this investment opportunity, which involves a first-ranking mortgage-backed loan<\/strong> aimed at funding the construction of 2 semi-detached single-family homes located at Calle Victoria del Angels, 6, Roda de Bar\u00e1 (Tarragona).<\/strong><\/p>\n\n\n\n

Investor, before proceeding with your investment, please read the essential information for the investing client. Past returns do not guarantee future returns.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Project Summary<\/h2>\n\n\n\n

We introduce you with an opportunity for a Fixed Rate Loan<\/strong> with a First-Rank Mortgage Guarantee.<\/strong><\/p>\n\n\n\n

The plot of land has an approximate total area of 810 m2<\/strong> and has been granted a building permit for the construction of 2 semi-detached single-family homes.<\/p>\n\n\n\n

The developer contributes the unencumbered land (\u20ac124,867 of own funds).<\/p>\n\n\n\n

The developer is requesting a fixed rate loan of \u20ac450,000<\/strong> from wecity for the execution of the construction. This loan has a First-Rank Mortgage Guarantee.<\/p>\n\n\n\n

Through wecity, you can participate in a fixed rate loan with an annual interest rate of 10% over an estimated period of 12 months (6 months mandatory compliance). The total estimated profit is 10%.<\/strong> Interest payments plus the return of the invested capital will be made at maturity (month 12).<\/p>\n\n\n\n

With a minimum investment of \u20ac500<\/strong> and no investment limit, you can participate in this opportunity with excellent profitability and maximum guarantees.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Valuation and Rating<\/h2>\n\n\n\n

The current appraisal for mortgage guarantee purposes (Order ECO 805\/2003) amounts to \u20ac228,875.96<\/strong> (land).<\/p>\n\n\n\n

The appraisal based on the assumption of a completed building amounts to \u20ac660,674.88 (2 houses). This represents a Loan to Value<\/strong> (LTV) ratio based on the HET appraisal of 68.11%.<\/strong><\/p>\n\n\n\n

The Loan to Value (LTV) ratio for the first disbursement is 65.81%.<\/strong><\/p>\n\n\n\n

<\/p>\n\n\n\n

\"Rating<\/figure>\n\n\n\n

An external rating for the project has been requested from the consulting firm JLL<\/strong> which has assigned a rating of AA <\/strong>to the project.<\/p>\n\n\n\n

Project<\/h2>\n\n\n\n

The project involves the construction of 2 semi-detached single-family homes with a private garden and swimming pool.<\/p>\n\n\n\n

\"wecity_inversi\u00f3n<\/figure>\n\n\n\n
\"wecity_inversi\u00f3n<\/figure>\n\n\n\n
\"wecity_inversi\u00f3n<\/figure>\n\n\n\n
\"wecity_inversi\u00f3n<\/figure>\n\n\n\n
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Areas and Location <\/h2>\n\n\n\n

The project is located in the municipality of Roda de Bar\u00e1, Tarragona<\/strong>. It is only an 8-minute drive from the coast and 20 minutes from the city of Tarragona<\/strong>.<\/p>\n\n\n\n

Roda de Bar\u00e1 is one of the best-preserved towns in the area and, apart from its historical essence as a passage along the Via Augusta, it has become a prominent tourist and residential hub on the Costa Dorada<\/strong>. It boasts beautiful golden sandy beaches such as Playa Larga and Playa Pelliseta, as well as modern nautical facilities.<\/p>\n\n\n\n

<\/p>\n\n\n\n

\"wecity_inversi\u00f3n<\/figure>\n\n\n\n

Collateral<\/h2>\n\n\n\n

The loan will have a first-range mortgage<\/strong> guarantee on the land and the construction located at Calle del Angels, 6, Rod\u00e1 de Bar\u00e1 (Tarragona).<\/p>\n\n\n\n

The independent appraisal entity responsible for determining the value is KRATA, whose corporate name is KRATA SA SOCIEDAD DE TASACI\u00d3N, and it is registered as an Approved Appraisal Company by the Bank of Spain with the number 4,323.<\/p>\n\n\n\n

According to the appraisal report carried out by KRATA, the current appraisal value of the land amounts to \u20ac228,875.96.<\/p>\n\n\n\n

The loan to be granted to the development company is \u20ac450,000<\/strong>, which represents a Loan to Value<\/strong> ratio on the initial disbursement of 65.81%.<\/strong><\/p>\n\n\n\n

<\/p>\n\n\n\n

Security Agent<\/h2>\n\n\n\n

The establishment, maintenance, management, administration, and, if necessary, execution of real estate mortgage rights on behalf of the investors will be handled by an external entity to Wecity.<\/p>\n\n\n\n

In this case, the designated Guarantors Agent is Bondholders<\/strong>.<\/p>\n\n\n\n

Bondholders is a professional company specialized primarily in providing trustee services and independent agent services for various asset classes and under numerous international jurisdictions.<\/p>\n\n\n\n

In recent years, Bondholders<\/strong> has been appointed as an agent and trustee in over 400 transactions<\/strong> representing a total of nearly \u20ac200 billion in debt.<\/strong><\/p>\n\n\n\n

Among its key clients are financial institutions, institutional clients, asset managers, and sovereign government agencies, among others.<\/p>\n\n\n\n

At present, it is one of the leading providers of independent fiduciary services in Europe<\/strong>.  <\/strong><\/p>\n\n\n\n

Monitoring<\/h2>\n\n\n\n

The developer must provide justification for the use of funds in each of the requested disbursements.<\/strong><\/p>\n\n\n\n

The utilization of funds by the developer will be monitored by an external company to Wecity.<\/strong><\/p>\n\n\n\n

<\/p>\n\n\n\n

Bulletpoints:<\/h2>\n\n\n\n

<\/p>\n\n\n\n

\u00b7 Investment Type:<\/strong> Fixed Interest Loan.<\/p>\n\n\n\n

\u00b7 Interest Payment:<\/strong> At maturity (month 12).<\/p>\n\n\n\n

\u00b7 Guarantee:<\/strong> First-range Mortgage.<\/p>\n\n\n\n

\u00b7 Additional Guarantee:<\/strong> Benso Construcciones y Obras SL acts as a guarantor of the loan in the capacity of joint surety.<\/p>\n\n\n\n

\u00b7 Purpose of the loan:<\/strong><\/p>\n\n\n\n

Construction expenses and development of real estate projects. The property details are as follows: Property No. 11,796 in Roda de Bar\u00e1, Vendrell-2 Property Registry, CRU 43028000128628. The cadastral reference of the plot is: 2500310CF7620B0001HJ.<\/p>\n\n\n\n

\u00b7 Contribution from Promoter and Wecity Investors:<\/strong><\/p>\n\n\n\n

\u00b7 BLM Invest & Development SL:<\/strong> Owned land without encumbrances (\u20ac124,867 of own funds).<\/p>\n\n\n\n

\u00b7 Wecity Investors:<\/strong> \u20ac450,000.<\/p>\n\n\n\n

\u00b7 Property Type:<\/strong> New Construction – Residential.<\/p>\n\n\n\n

\u00b7 Interest Rate: <\/strong>10% per annum.<\/p>\n\n\n\n

\u00b7 Estimated Total Return:<\/strong> 10%.<\/p>\n\n\n\n

\u00b7 Loan-to-Value (LTV) based on Appraisal:<\/strong> 68.11%.<\/p>\n\n\n\n

\u00b7 Loan-to-Value (LTV) based on initial disbursement:<\/strong> 65.81%.<\/p>\n\n\n\n

\u00b7 Loan Term:<\/strong> 12 months.<\/p>\n\n\n\n

\u00b7 Minimum Investment:<\/strong> \u20ac500.<\/p>\n\n\n\n

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