Quartiers Properties is refinancing part of its current loan with Frux Capital and establishing a EUR 1.5 million line of credit
Quartiers Properties AB (publ) (‘Quartiers Properties’ or ‘the company’) has chosen to refinance EUR 1.5 million of its previous loan with Frux Capital, and has established a EUR 1.5 million line of credit. The loan is for 30 months with an optional extension of a further six months.
The loan carries fixed annual interest of 12.5 percent on the capital received over the period and 5.0 percent on capital made available under the line of credit. The company intends to use the capital for planned investments and as a working capital reserve relating to the opening of the Boho Club hotel, which is planned for autumn 2019.
The CFS Residential property has been pledged as collateral for the loan, together with shares in the subsidiary that owns the property, CFS Residential Property SL. The subsidiary Flexshare España SL has also pledged a company guarantee for the loan. No other assets exist in CFS Residential Property SL besides the property that has been pledged as collateral.
For further questions, please contact:
Quartiers Properties
Marcus Johansson Prakt, Acting Chief Executive Officer
Email: marcus.prakt@quartiersproperties.se
Phone: +46 72 018 59 98
The company in brief
Quartiers Properties is a Swedish property development company with operations on the Spanish Costa del Sol. The company was founded in 2014 and has since built up a property portfolio of investment properties and project properties. The company develops, sells and leases property.
Mangold is the company’s certified adviser. Mangold can be contacted on +46 (0)8-503 015 50 or by emailing ca@mangold.se.
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Quartiers Properties AB (publ) is required to disclose this information under the EU Market Abuse Regulation. This information was provided for publication through the agency of the contact person above on 16 July 2019 at 1.30 p.m.