Company / Bus for sale. Owns15 Beach F. Condos, S.Spain
Real Estate :: Commercial
Company / Bus for sale. Owns15 Beach F. Condos, S.SpainAPPRAISAL: € 6.2 M , EXIST. LOAN: €2.75M, INV:$2.5 MIL
AREA LOCATION: SOUTH OF SPAIN - EUROPE (ESTEPONA PORT AND SOTOGRANDE PORT AND MARINA), 50 MINUTES FROM MALAGA INTERNATIONAL AIRPORT, 30 MINUTES SOUTH OF MARBELLA, 20 MINUTES NORTH OF GIBRALTAR AND 35 MINUTES NORTH OF AFRICA (TANGIER IN MOROCCO). 330 SUNNY DAYS IN SOUTH OF SPAIN. ESTEPONA PORT AND PORT OF SOTOGRANDE ARE VERY EXCLUSIVE AREAS OF ANDALUCIA IN SOUTH OF SPAIN - EUROPE. 64,000,000 MILLION TOURIST AND VISITORS, VISIT SPAIN ANNUALLY. SIZE AND SPECIFIC LOCATION: BEACH FRONT 13 TWO BEDROOMS AND TWO BATH AND 2 ONE BEDROOMS AND ONE BATH CONDOS 700 TO 1100 FEET(70 TO 110 METER), FURNISHED, FOR INVESTMENTS. WALK TO THE MEDITERRANIAN SEA AND THE RESTAURANTS. TOTAL OF 104 UNITS IN THE ESTEPONA PORT COMPLEX AND 30 UNITS IN SOTO GRANDE MARINA COMPLEX. 7 FLOOR U SHAPE BUILDING AND RIGHT ON THE PORT WITH UNDERGROUND PARKING AND TWO SWIMMING POOLS (KIDS AND ADULTS). PLEASE SEE PICTURES. ASSETS FOR SALE: THE COMPANY HAS 15 FRONT BEACH CONDOMINIUMS (12 IN ESTEPONA PORT AND 3 IN SOTOGRANDE PORT AND MARINA) ALONG WITH THE EXISTING RENTAL & MANAGEMENT BUSINESS WITH DATA BASE OF NEARLY 5,000 TENANTS AND THE WEB SITE WWW.ENTERGLOBE.COM . THE COMPANY ALSO HAS € 600,000 Euros IN NET OPERATING LOSSES THAT CAN BE OFFSET AGAINST THE FUTURE INCOME OF THE COMPANY. IN FEBRUARY OF 2008, THE ASSETS (WITHOUT THE BUSINESS) WAS EVALUATED BY TINSA (ONE OF THE TOP 3 BANK APPROVED APPRAISAL COMPANY IN SPAIN) FOR €6.2 MILLION Euros (Documents available for your inspection) EXISTING FINANCING: MY SPANISH COMPANY, REGISTERED IN SPAIN HAS A TOTAL LOAN AMOUNT OF € 2,750,000 Euros (3 banks) in existing loans at approximately less than 5% interest rate due in the year 2025 with annual payments of € 180,000 Euros per month. PRICE & METHOD OF PURCHASE: THE PRICE IS €4,250,000 (PRINCIPALS ONLY) INCLUDING THE €600,000 NET OPERATING LOSS. IT IS 32% DISCOUNT FROM THE RECENT APPRAISAL of €6.2 Million. THE SHARES OF THE COMPANY COULD BE TRANSFERRED TO THE NEW BUYER THROUGH THE COMPANY ATTORNEYS IN EUROPE TO COMPLETE THE SALE AFTER A DUE DILIGINCE PERIOD.THE DOWN PAYMENT €1,500,000.00 Euros OR $2,500,000 USD COULD BE PAID PART IN EUROPE AND PART IN STATES. EXISTING INCOME AND EXPENSES: TOTAL ANNUAL INCOME (LONG AND SHORT TERM RENTALS): €252,000 TOTAL ESXPENSES AFTER ALL MORTGAGE PAYMENTS, COMMUNITY FEES AND UTILITIES: €194,000 THE ANNUAL INCOME IS INCREASING. FREE INSPECTION TRIP: I AM OFFERING 7 DAYS ACCOMODATIONS WITH NO OBLIGATIONS FOR A SERIOUSE PURCHASER FOR THE MONTH OF APRIL, MAY AND JUNE 2008. YOU PAY FOR YOUR AIRLINE TICKET AND WE PICK YOU UP AT MALAGE AIRPORT, YOU CAN THEN LOOK AT THE ASSETS AND SEE THE DOCUMENTS AND COMPARABLE SALES AND MEET WITH THE COMPANY ATTORNEYS. MOTIVATION TO SELL: I HAVE PURCHASED OVER 25 CONDOS SEVERAL YEARS AGO AND LIVED IN SPAIN SINCE EARLY 2000. I HAVE SOLD ALMOST HALF OF THEM. MY PRIORITIES HAVE CHANGED AND I HAVE MOVED TO STATES. IF YOU ARE A BROKER: PLEASE REGISTER YOUR CLIENT THROUGH EMAIL OR FAX AND I WILL SEND YOU A COMMISSION AGREEMENT. CONTACT: YOU CAN EMAIL ME JESSIE@ENTERGLOBE.COM OR YOU CAN CALL ME IN US AT 1-310-569-1808 FAX IN US 1 - 310 465 - 0031, IN SPAIN OFFICE: 34 951 318 250 AND MOBILE: 34 639 790 160 AND ALSO VISIT WWW.ENTERGLOBE.COM ONCE I RECEIVE YOUR EMAIL, I WILL SEND YOU COMPLETE PACKAGE OF CONDO AVAILABILITY AND MORE PICTURES. DATED: APRIL 20TH 2008 | ||||||||||||
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