SPV1
- Fund acquisition of 10% stake in the company in Dec 2019
- The Fund provided €3,000,000 shareholder loan with 7.5% interest until Dec 2020 and 5% until 2022
- Company successfully repaid €225,000 to the fund by end of 2021, showing operational success
- In 2021, sales reached €4,283,000; company purchased 15 properties and sold 13, and refurbished 8 properties with sales expected in H2 2022
SPV2
- Fund acquisition of a 10% stake in the company in Mar 2021. Purchase of real estate proprieties for remodelling and resale
- The Fund provided a shareholder loan of €1.5 million with a 5% interest rate
- The company had revenues of €2.5 million in 2021
- In 2022, the company purchased 11 properties worth €2 million and sold 12 properties. It remained with 2 properties being refurbished, with sales expected to conclude in Q3 2022
SPV3
- Fund acquisition of 10% stake in the company owner of “Beja Residences”. The project consists of 29 flats in Beja, requiring light refurbishment, for a total cost of €5,010,000
- Company issued bonds worth €4,700,000 with a fixed 12% interest rate over 24 months
- Average acquisition price per unit, including refurbishment, is €119/m²
- Median sale price per square meter expected to be €1250-1600/m² (average €1450/m²)
SPV4
- Fund acquisition of 10% stake in the company in Dec 2021
- Fund financed Project Madeira with €1.5 million for acquiring and refurbishing 80 tourist accommodations, 2-year duration
- Project located in prime Funchal area, World’s Leading Island Destination, with swimming pool and restaurant
- Convertible loan with 10% interest rate expected to last approximately 1 year, converting to equity if €1.8 million not repaid in 2 years