Evaristo Project
Property investment in Algarve, Portugal
Funding Required
Joint venture partner required to co-invest in an excellent re-development project in a quaint upmarket area of Central-Algarve. This gated condominium in beautiful Evaristo is in walking distance to the unspoilt Praia do Castelo beach known for its crystal clear water and offers 56 x 1-bedroom apartments all with sea view.
- Gated & Privately Managed Condominium
- Spacious 1 Bed Studios (avg. size 70m2)
- 95% Finished - 3 month Refurbishment Program
- High demand for holiday rentals due to sea views, proximity to beach and several popular tourist villages
- 3 mins walk to the new W Hotel, Algarve
Investment Summary
| Senior Debt | Equity | |
|---|---|---|
| Investment | € 4 500 000 | € 1 600 000 |
| Term | 18 months with call option after 12 months | 6 months bridge finance |
| Security | First lien | Equity pledge SPV |
| Exit | In line with sales of units | On securing project finance |
| Sales Cycle | Estimate 40% of units sold within 6 months | |
