- Prime Location: The project is located in the central and prestigious part of León, in the historic Plaza Puerta Obispo, an area attracting significant tourist traffic. The city benefits from strong domestic tourism, with Spanish tourists accounting for 70–80% of all hotel overnight stays.
- Construction Completed: The project has reached 100% construction completion. The building comprises 6 apartments intended for short-term rental. Since the previous financing stage, when construction completion stood at 89.30%, the project has reached full construction completion.
- Projected Rental Income: According to the approved internal income assessment, the short-term rental operation is expected to generate approximately EUR 115,000 in annual income.
- Additional Security: The company's shareholders provide additional guarantees covering the entire loan amount.
About the Project:
The project owner continues the development of a short-term rental apartment project in one of Spain's most historically significant cities, León. The project is located at Plaza Puerta Obispo, No. 15 D, in the central part of the city, in a prestigious square frequently visited by tourists and considered one of the most attractive locations for short-term rental activities in León.
The project comprises 6 apartments intended for short-term rental. Since the previous financing stage, construction completion has increased from 89.30% to 100%. The main construction works have been completed. During project implementation, actual construction costs exceeded initial estimates, resulting in an additional financing requirement for the project owner.
There is a possibility of raising an additional EUR 200,000 to cover the increased project implementation costs. This financing is planned to be structured as a separate loan secured by a second-ranking mortgage. According to the approved internal income assessment, the short-term rental operation is expected to generate approximately EUR 115,000 in annual income once operations commence. These figures are projections and will depend on actual apartment occupancy rates, rental prices, and operating expenses.
The project's attractiveness is further supported by its location. León is a city with a strong historical and cultural identity, where domestic Spanish tourists account for 70–80% of all hotel overnight stays. Due to strict heritage protection requirements, opportunities for new developments in the city centre are highly limited, restricting the supply of quality properties suitable for short-term rental.
Loan Information:
The loan is expected to be repaid through refinancing with another credit institution, while interest payments to investors will be made from the company's working capital. The planned loan term is 18 months. Funds may be raised in stages, and the duration of this financing stage is 18 months.
Maximum planned project financing amount: EUR 1,050,000. Please note that the financing will be secured by both first-ranking and second-ranking mortgages. The project will be financed based on the existing valuation of the mortgaged property until the maximum permitted loan-to-value (LTV) ratio is reached. Once the maximum LTV is reached, a new property valuation will be required, and subsequent financing stages will only be launched and funded if the established maximum LTV ratio is not exceeded.
We plan to raise the target amount within 7 days, with the possibility of extending the fundraising period to 30 days if the target is not reached.
About the Profitus
Profitus is a crowdfunding and investment platform with a minimum investment of 100 euros. Profitus investments are secured by real estate mortgages, Your investment is secured by a first or second mortgage on the property, as well as by other collateral (e.g. a surety or guarantee). Transactions are managed through Lemonway, a regulated payment service provider.
Profitus is a crowdfunding and investment platform whose main goal is to make investment available to everyone. Investments start at 100 euros, and the platform is open 24/7. Investments are secured by pledging real estate and other collateral (e.g., indemnity or warranty). Different projects have different security tools that users can access in self-service for each project.
Profitus consults with the Bank of Lithuania in order to ensure perfect compliance with the law. Profitus operates with Lemonway, a regulated payment service provider.
