The platform’s investors will provide a 1 million euro financing to Grupo Otero, a company with more than 60 years of experience in the Costa del Sol area, for the development of a housing project in Malaga’s municipality of Estepona, which contemplates the construction of an eight building complex with 96 dwellings for a total cost of 31 million euro. The rest of the project will be financed by other entities.
This is the second project in which Housers, through its investors, will offer financing to this company, after the success of the first project developed at the end of last year with the construction of 17 luxury villas in the municipality of Manilva.
According to Housers, the operation stands out as a fixed rate opportunity, where the investors won’t have to wait for the houses to be sold, but will rather start earning revenue from the first month of the project until the developer pays back the entire loan. The total non-guaranteed expected return is of 22.5% in 30 months at an annual interest of 9%.