Investment Committee Criteria

• Location: Spain, Portugal, and Andorra.

• Minimum investment amount: 750,000 €.

• Maximum investment amount: 2,500,000 €.

• Project size / Entrepreneurial experience: 

  • Minimum of approximately 50 deliveries per year.

  • Track record of over 15 years.

  • In-house abilities within the company (staff over 10).

• The maximum proportion of fund investment in overall project costs: 

  • 33% or 55% as senior debt.

• Required conditions for actual entry of funds:

  • Building permits.

  • 30% of sales.

  • All funding sources are secured.

  • Not the first capital to enter a project.

  • Signed contractor agreement or completed tender with matching business plan proposals.

  • The entrepreneur is not the contractor.

• Interest: 

  • Preferably Quarterly payments

  • At least 14% annually.

  • Fund exposure ratio to the entrepreneur: 

  • Up to 5,000,000 euros.

  • Not more than 30% of the total fund volume.

  • Collateral:

  • Liens on the property

  • Liens on the developer's shares or significant equity.

  • Priority over all creditors except the bank.

  • Personal guarantee from developer /holding company with liquidable assets.

  • Takeover clause in case of deviation from business plan.

  • Interest burden on the fund compared to entrepreneurial profit: Maximum of 25%.

  • Minimum equity of the entrepreneur:

  • Equivalent to the fund's investment.

  • Except for senior debt - 20% of total costs.

  • Environmental responsibility: Compliance with strict environmental regulations.

  • Social responsibility: Developer following European guidelines.