Campaign Close | BDKapital completes the €400,000 raise (second phase) for a 10-home building in San Bartolomé de Tirajana (Gran Canaria)

– ⏱ 3 min

This article is for informational purposes only and does not, under any circumstances, constitute investment advice or a recommendation.

The crowdfunding platform BDKapital, authorized by the CNMV and registered as a Crowdfunding Service Provider under number 23, has issued the closing report for the fundraising round corresponding to the second financing phase of the construction of a building of 10 homes, 6 parking spaces and one commercial unit in San Bartolomé de Tirajana (Gran Canaria), promoted by Proyectos y Estructuras Nedet, S.L. The subscription process has concluded, consolidating an amount raised of €400,000. Investors should keep in mind that any reference to return is inseparable from the corresponding risk, which is described below.

Subscription Pace

The campaign completed its €400,000 target in a period of 1 day. The analysis of the flow of contributions during that interval records an average subscription ratio of approximately €278 per minute.

Investor Base and Capital Distribution

The campaign concluded after registering the participation of 109 investors, who covered the entire amount assigned to the operation. The distribution of the funds raised among that number of contributors yields an average investment ticket of approximately €3,670 per participant.

Financial Terms of the Operation

The loan amounts to €400,000, with a fixed annual interest rate of 9.5%, an APR of 9.925% and a term of 14 months, with repayment of principal and interest at maturity. The total return of the opportunity, which takes into account the 14-month term and the agreed fixed interest, is 11.67%, and could increase in the event of early repayment; this estimate is subject to investment risk and is not guaranteed. The financing is allocated to the completion of the building under construction. In compliance with the European regulatory framework, non-experienced investors have a four-calendar-day pre-contractual reflection period during which they may revoke their commitment at no cost and without justification.

Mortgage Collateral and Asset Status

Repayment of the loan is secured by a mortgage over the plots being built on, registered at Land Registry No. 1 of San Bartolomé de Tirajana. The appraisal of the collateral under the completed-building hypothesis amounts to €2,640,971.52. In this second phase, with 34.13% of the works executed, the current appraisal of the property is €1,369,804.08, placing the Loan to Value (LTV) at 69.35% of the current appraisal value. The asset is a four-floor building with homes of approximately 60 m² located in the south of Gran Canaria; the developer owns the land and the permit, with the earthworks and structure already executed, and at the close it had sold 8 of the homes. It should be borne in mind that repayment depends on the execution of the works and the sale of the homes according to the planned schedule.

Finally, in compliance with the regulations governing crowdfunding platforms, investors are reminded that this is a participatory financing product and not a deposit or a guaranteed savings product, and that real estate investments carry specific risks, such as illiquidity, the risk of not obtaining the expected return, or the partial or total loss of the invested capital. The published projects are not supervised by the CNMV or the Bank of Spain beyond the platform's own authorization, and the information provided by the developer has not been reviewed by these institutions. Likewise, the invested capital is not covered by the deposit guarantee fund or the investor compensation scheme.

Realty Investor

Our calendar brings together crowdfunding opportunities from across Europe in one place, so you can plan and follow each issue.

Realty Investor

Your real estate crowdfunding, in one app.

Discover new opportunities. Invest through leading platforms. Manage your whole property portfolio from a single place.

The Realty Investor beta is now available. Explore the market, discover new projects and get to know the platform with simulated money, without putting in any capital.

Download the beta and start discovering a new way to manage your real estate investments.

Available for iOS and Android · beta with simulated money

All news