Vizcaya | Mercedarios Project crowdfunding opportunity project pitch by Urbanitae

Details

Country

Spain

Type

Loan/debt

Sector

Real EstateHousing

End date

14 September 2023 (-44 days)

Duration/Maturity

25 months

investors

886

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“Click HERE to register for the Webinar “Urbanitae Up Close – Mercedarios Project” which will be held next Friday, July 28 at 1:30 PM (UTC +2) with Alfonso Intxausti, General Director of UGARENWe present a new project that consists of the development of a new residential promotion that includes 40 homes with 2 and 3 bedrooms with a garage and storage room in Lekeitio, Vizcaya. The project will also have 56 additional parking spaces and 8 additional storage rooms for sale, and two commercial premises.The promotion is located on Avenida Paskual Abaroa 1, next to the historic center of the town and a 5-minute walk from the Port of Lekeitio and Karraspio beach. It is a residential area that has all kinds of services in the vicinity of the property. Lekeitio is a municipality located in the northeast of the province of Vizcaya that has a population of over 7,000 inhabitants, although during the summer season the population of the municipality rises above 20,000 inhabitants. Lekeitio is a 55-minute drive from Bilbao, connected via the AP-8, and an hour and a quarter from San Sebastián, on the same highway.The favorable scenario is the scenario of Urbanitae and contemplates the estimates of income and expenses proposed by the promoter, verified by Urbanitae, and contrasted by the valuation report of the Appraisal Society. In this project, the total income forecast amounts to €24,315,345, while the estimate of the total costs for the execution of the promotion corresponds to €22,402,925.The total profitability of a project is the INCOME FORECAST minus the COST ESTIMATE, divided by the TOTAL EQUITY. For example, in the FAVORABLE scenario, the calculation would be INCOME FORECAST (€24,315,345) minus EXPENSE FORECAST (€22,402,925) divided by the total equity (€5,800,000). The result of this quotient multiplied by 100 will be the percentage of profitability on the capital contributed in this scenario.”

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• Source: https://www.findcrowdfunding.com/en/view/urbanitae/P000228