- Significant Equity Contribution: The pledged property is already being developed using the developer's own funds. To date, 8 184 883,85 EUR has been invested in the project, including land acquisition and construction works.
- Strong Collateral Package: The loan will be secured by the residential development project "Residencial Seaview 6", located in Finestrat, Alicante region. According to an independent valuation, the current market value of the pledged project amounts to 12 million EUR, providing substantial collateral coverage for the planned financing amount.
- Experienced Developer: "ESPHOUSES" has been operating in residential construction and development since 2002. Over 24 years of operation, the group has developed 839 real estate units, completed projects with a total construction area of 80 412 m², and delivered developments with a combined value exceeding 114 million EUR. More than two decades of experience have provided the developer with extensive knowledge of the Costa Blanca residential property market and the ability to consistently manage large-scale development projects.
Interest Rates Based on Investment Amount:
– From 100 EUR to 299 EUR – 8.00%
– From 300 EUR to 699 EUR – 8.25%
– From 700 EUR to 1 999 EUR – 8.50%
– From 2 000 EUR to 6 999 EUR – 8.75%
– From 7 000 EUR to 24 999 EUR – 9.00%
– From 25 000 EUR to 49 999 EUR – 9.30%
– From 50 000 EUR to 99 999 EUR – 9.60%
– From 100 000 EUR – 10.00%
Important: Individual investments are not added together and cannot be combined.
Project Overview:
The project owner is pledging the actively developing residential project "Residencial Seaview 6", located in Finestrat, Alicante region. The project consists of 39 residential units – 28 villas and 11 townhouses, and the total area of the property pledged as collateral at this stage amounts 4,745 m². According to the valuation report, the current value of the pledged project amounts to 12 million EUR. To date, the developer has invested 8 184 883,85 EUR of its own funds in the project. Development continues to be financed by the project owner's own resources. The requested bridge loan will be used to acquire two land plots in Alicante. Neither plot currently has building permits. The first plot is located at Calle Colombia 5, with a purchase price of 3 300 000 EUR, of which 800 000 EUR has already been paid using the project owner's own funds. The second plot is located at Calle Teulada 78, with a purchase price of 2 000 000 EUR. The combined acquisition price of both plots amounts to 5 300 000 EUR.
Financing Structure:
The loan will be disbursed in stages. The first disbursement amounted to 1 250 000 EUR, while the total approved financing limit for the entire loan term is up to 5 000 000 EUR. Subsequent loan disbursements will be allocated according to the acquisition progress of the respective land plots. This is a bridge financing transaction: the loan is provided to enable the project owner to acquire the land plots before obtaining building permits and securing long-term project financing. Once the permits have been obtained, the loan is expected to be refinanced through financing from a bank or another credit institution intended for the development of future projects. Importantly, the loan collateral is not based solely on the newly acquired land plots, which do not yet have building permits. Instead, the loan is secured by the already developing "Residencial Seaview 6" project, in which the project owner has invested a significant amount of its own funds.
Market and Developer's Activities:
"ESPHOUSES" has been operating in the Costa Blanca residential real estate market since 2002. The company has offices in Guardamar del Segura, Alicante, Benidorm–Finestrat, and Altea. Its long-standing presence in the region provides the developer with extensive local market knowledge, an established sales infrastructure, and access to an international buyer base. The pledged project "Residencial Seaview 6" is being developed in Finestrat, Alicante region. Residential unit reservations have already been recorded within the project.
Loan Information:
The loan is expected to be repaid through refinancing, using financing obtained from a bank or another financial institution. An alternative source of loan repayment is proceeds from the sale of other real estate projects being developed and sold by the project owner. Interest payments will be covered by the company's operating income.
The scheduled loan agreement maturity date is 2028-08-02. Funds for the project may be raised in stages, and the duration of this financing stage is 12 months. Upon expiry of this stage, if necessary, continued project financing may be arranged, meaning that additional funds may be raised through a new financing stage without exceeding the final maturity date of the project loan agreement.
Maximum financing amount: 5 000 000 EUR (1 250 000 EUR already raised). The amount may be raised in stages. Please note that the loan amount will be transferred to the notary's escrow account before the mortgage agreement is signed. The notary will release the loan funds after the mortgage agreement has been signed and mortgage priority has been established. Mortgage registration may take up to several weeks following the disbursement of funds. Interest for investors will begin accruing from the date of signing the mortgage agreement, in accordance with standard Spanish market practice.
We plan to raise the target amount within 7 days, with the possibility of extending the fundraising period to 30 days if the target amount 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.
