- Unique location: The project is being developed in a central and prestigious location in León, in a historic square with significant tourist flows. As much as 70–80% of all overnight stays in the city are tourism-related.
- Construction progress: The project’s construction completion has increased from 79.20% to 89.30% since the previous financing stage. Construction works are progressing smoothly, with interior fit-out and finishing works continuing as the project approaches completion.
- Additional security: The company’s shareholders additionally provide personal guarantees for the full loan amount.
Interest rates based on the investment amount:
– From 100 EUR to 299 EUR – 9.20%
– From 300 EUR to 699 EUR – 9.50%
– From 700 EUR to 1 999 EUR – 9.80%
– From 2 000 EUR to 4 999 EUR – 10.20%
– From 5 000 EUR to 9 999 EUR – 10.60%
– From 10 000 EUR – 11.00%
Important: Separate investments are not aggregated and cannot be combined.
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 being developed at Plaza Puerta Obispo, No. 15 D, in the central part of the city, in a prestigious square with significant tourist flows, considered one of the most attractive locations for short-term rental activities in the city.
Construction works are continuing, with the overall construction completion increasing from 79.2 % to 89.3 % since the previous financing stage. Interior fit-out and finishing works are ongoing – a significant part of the main construction works has already been completed, and the project is approaching completion. During the implementation of the project, actual construction costs have increased, and therefore the construction works have not yet been fully completed.
The investments raised at this stage will be used for the continued financing of the project, providing the developer with additional time to complete the remaining interior fit-out works and successfully complete the project.
Once the project is completed and short-term rental operations commence, it is planned to generate 173 002 EUR in net rental income during the first 18 months. The project’s attractiveness is further strengthened by its location – León is a city with a strong historical and cultural identity, where 70–80 % of all hotel overnight stays are generated by domestic Spanish tourists. Due to strict heritage protection requirements, opportunities for new developments in the city centre are highly limited, resulting in a limited supply of high-quality properties suitable for short-term rentals.
Loan information:
The loan will be repaid through refinancing with another credit institution. Interest to investors will be paid from the company’s working capital. The scheduled end date of the project loan agreement is 2028.06.26. Funds for the project may be raised in stages, and the duration of this financing stage is 6 months. Upon expiry of this stage, if necessary, continued financing of the project may be carried out, i.e. funds for the project may be raised through a new financing stage without exceeding the final term of the project loan agreement.
Maximum planned project financing amount: 850 000 EUR (Active portfolio after continued financing – 849 900 EUR). The project is financed based on the existing valuation of the mortgaged property until the established maximum loan-to-value (LTV) ratio is reached. Once the maximum LTV is reached, a new property valuation will be required, and subsequent Project financing stages will be announced and funds raised only if the established maximum LTV is not exceeded.
We plan to raise the target amount within 7 days, with the possibility of extending the fundraising period up to 30 days if the funds are not fully raised.
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.
