Civislend, the largest crowdlending platform in Spain, just announce the launch of a new and enticing investment opportunity in Spain – Stiges La Plana. This latest venture opens up a unique avenue for investors seeking potential returns in the real estate sector.
Crowdlending investment Stiges La Plana key factors
- Investment starting day February 8th at 16:00 CEST
- Total return: 15,75%
- Nominal Interest Rate: 10,50%
- Project execution: 18 months
- Total investment: 1.800.000€
The project
First-ranking mortgage loan to finance part of the purchase of a plot with granted license and the development of an independent villa with sea views in Sitges, Barcelona.
Civislend projects
Located specifically in La Plana, an exclusive area of Sitges with high demand for both primary and secondary residences. Situated just over 30 minutes by car or train from Barcelona and only 20 minutes from the airport. It is a municipality with high purchasing power, both nationally and internationally, thanks to its beaches, architecture, and entertainment offerings. According to Idealista, Sitges is the 6th municipality with the highest average housing price in Spain.
The current appraisal value of the asset, appraised as land, is €779,408.30. The Loan to Value (LTV) for the initial drawdown is 47.60%. The value of the Hypothetical Finished Building (HET) is €2,531,959.50, representing a total loan-to-value ratio on HET of 47.39%.
The promoter’s equity contribution to the project is €547,770.
Potential and non-experienced investors have the right to a «pre-contractual reflection period» of four days to revoke their investment at no cost.
The maximum investment per investor will be €20,000 during the first 24 hours from its opening.
Interest will start accruing from the formalization date, which will be within a maximum of 30 days from the fundraising.
Loan guarantees
First-ranking mortgage guarantee on the asset with an appraisal value of €2.5M HET, representing an LTV of 47.60% at the first drawdown and 47.39% at the end of the loan term.
Corporate guarantee on a first-demand basis from the parent company.
Project amortization
While the total loan duration is 18 months, the developer can make a complete repayment without penalties starting from the end of month 6.
The developer has the right to extend the loan by 3 months.
In the event of early repayment or extension of the loan, the interest will be calculated based on the final drawdown period of the loan and will be calculated at the annual interest rate.
Real State Project Promoter
GLOBAL SERVICES 2005 SL is a family-run development company specializing in Barcelona and its surroundings. The group boasts over 50 years of experience, spanning four generations within the family.
They have successfully delivered over 3,000 homes and currently have a portfolio of 7 ongoing developments. This marks the seventh project by the developer in Sitges since 2017, with two projects in the final construction phase, fully commercialized, and the rest already delivered. The promoter will commence marketing alongside construction in the upcoming weeks.
This is the second project that the developer is financing through Civislend, with the first project being 100% commercialized and awaiting the construction license for loan settlement.
