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lent to this project, means…
paid back in total
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Building & public Works
AFC Promotion is the holding company set up in 1997 of the AFC Promotion group active in the real estate development sector. The AFC Promotion group, managed by Alexandra François-Cuxac, has 37 employees and is based in Biarritz. AFC Promotion is a key promoter in the South West of France and is present in 4 major cities :. Bordeaux, Biarritz, Toulouse and recently with its development in Paris and in the genevan region.
The group’s main activity is the creation of residences or grouped houses divided into three categories :
The group works with customers and institutional for the sale in bloc.
AFC stands out from its competitors by the abitability of its housing, each apartment is designed and furnished with taste.
Alexandra FRANCOIS-CUXAC has more than 25 years of experience in promotion and is also President of the National Federation of Real Estate Developers (FPI).
The company requests 600 000 € with 2 months of deferred repayment to finance the developement of the group in historical and new regions. This project will be realised in the next few months.
As a reminder, the October lending community supported AFC Promtion in 2016, 2017 and February 2019 with a total of 2 950 000 € to finance hirings, communication and development in Paris and Genevan regions.
This project is a Flexible Bridge Loan, an amortizable loan with a standard commitment for the first 9 months and the possibility of early repayment at no cost for the remainder of the loan term, even in the event of refinancing by other financial institutions.
This project is a medium-term loan with a capital amortisation deferment and as such presents a different method of capital repayment than standard projects. The first 2 months, the lenders will only receive interest; the following 34 months, the lenders will receive interest and principal amortization. This principal repayment profile matches the borrower’s financing needs while allowing lenders to earn a higher amount of interest.
As part of their future investment plan, the borrower may come back to the October platform within the coming quarter, up to a maximum exposure of 940 000 €. Our analysis takes this into account; the rating of the borrower would not be affected, while the FCCR would become 1,2.
The amount offered on the platform is limited to 294000€, which is in line with the regulatory limits.