Secured loan to build luxury mixed commercial residential housing

Dreamhouse Plaza, Kutaisi consists in the construction of a luxurious XX-unit apartment complex including shops, gardens, garages and a supermarket. The project is developed over an area of 25 000 m2. As of today, XX apartments have already been sold (over 50%). 

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The Sponsor is partnering with Paradiso in order to raise a portion of the capital to develop and construct the property. The total cost of the project is USD XX XXX 000 and the Sponsor contributes with an equity stake equal to USD X XXX 000. The rest of the development costs are funded by presales and a bank loan of X 000 000 USD.

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The return for investors is 1X.00% per annum and the completion date is expected to be in November 2020. This investment opportunity is secured by owners personal guarantee and Paradiso's X% ownership of Sponsor's company shares. 

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Interest payments are made every 6 months, principal at the end of the loan term, and the Sponsor has the opportunity to pay investors back earlier, after 6 months (at least).