Crowdfunding
Wecity Launches Real Estate Crowdfunding in Portugal
Wecity has introduced real estate crowdfunding in Portugal, focusing on a logistics warehouse project on the outskirts of Lisbon. The platform acts as an intermediary, enabling retail investors to access opportunities. Wecity’s investment director, Ignacio García, highlights a key investment project involving the development of a 21,270 m2 logistics warehouse in the Lisbon metropolitan area.
Wecity launches real estate crowdfunding in Portugal. The digital crowdfunding platform is betting on a project on the outskirts of Lisbon, to carry out the development of a logistics warehouse.
Wecity acts as an intermediary between the developer and the investor, offering attractive investment opportunities for retail investors in a sector traditionally reserved for high-net-worth individuals. Wecity’s investment director, Ignacio García, gives a preview of the keys to this investment.
Read more about Wecity real estate crowdfunding for a real estate project in Portugal, and fidn the most important financial news of the day with the Born2Invest mobile app.
The investment
The sponsor owns an industrial building that will be demolished for the development of a logistics warehouse of more than 21,270 m2 located at Estrada das Ligeiras no 21-27, Cacém-Sintra, in the metropolitan area of Lisbon. In addition, last July, it signed a Promissory Purchase Agreement with one of the world’s largest real estate investment funds for the sale of the asset for an amount of €6 million.
The transaction is conditioned to the fulfillment of two real estate milestones. On the one hand, the issuance of the Final Approval of the Plotting License by the Chamber of Sintra. On the other hand, the resolution and approval of the Portuguese Environmental Agency (APA). Also, the developer has an environmental report from 2016 in which no indications of contamination were found.
In parallel, Wecity has initiated legal and urban due diligence to confirm all this information. In addition, the owner is requesting a bridging loan from Wecity in the amount of €2.3 million at a fixed rate with a 1st degree mortgage guarantee. The objective is to cancel a mortgage debt of €1.35 million and to cover the expenses associated with the management of the project until the requirements established for the purchase and sale are met.
Wecity and Lisbon Logistics Market
In recent years, the logistics market is the real estate sector that has experienced the greatest growth at the international level. The development of e-commerce has led to a continuous and growing demand for logistics space, which has resulted in an increase in rents and a contraction in yields.
In the Portuguese market, this problem is worsening. The current supply, which is almost non-existent, is unable to meet the strong demand for logistics space in the area. Nor are major developments expected to increase supply. As a result, we find ourselves in a scenario of strong growth in rents (4.5% year-on-year), and a contraction in yields. As well as an occupancy ratio of 98.4% for this asset class.
__
(Featured image by Taisia Karaseva via Unsplash)
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in radio intereconomia. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us
-
Fintech2 weeks ago
Bitpanda Introduces Over 500 Cryptocurrencies – A Milestone for the European Crypto Market
-
Crypto4 days ago
Bitcoin Surpasses $100,000: A Landmark Achievement and the Journey Behind It
-
Crowdfunding1 week ago
Bizplace and Italian Tech Alliance Publish the Report on the Performance of Equity Crowdfunding Issuers
-
Markets2 weeks ago
Cocoa Prices Soar Amid Rain Woes in West Africa and Rising Port Arrivals