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Interactive feasibility model for NOVA CENTRAL ATE — adjust assumptions and see real-time impact on IRR, NPV, DSCR and margin.
Interactive feasibility model for NOVA CENTRAL ATE — adjust assumptions and see real-time impact on IRR, NPV, DSCR and margin.
Move the sliders to stress-test the model. All metrics update instantly.
| Year | Revenue | CAPEX Hard | Soft | Sales & GA | Net CF | Cum. CF | DSCR |
|---|
Net profit (US$ M) impact of residential price and hard construction cost variations from base case. Green = viable, Yellow = marginal, Red = loss.
Net margin (%) impact of sales velocity and parking space count variations. Higher velocity = faster cash, fewer parking = lower CAPEX.
Indicative bank term sheet for Base Case scenario. Actual terms subject to due diligence and lender approval.
Indicative · Base Case · Pre-tax Unlevered
| Borrower | NOVA CENTRAL ATE SPV (to be constituted, Peru) |
| Land Owner / Sponsor | SAVAR AGENTES DE ADUANA S.A. · Lote 119-A/B + Sub-lote B · 53,179 m² |
| Facility Type | Real Estate Development Loan (Crédito Promotor) |
| Total Facility | US$ 266.4 M (Base) · US$ 261.2 M (Conservative) · US$ 263.6 M (Aggressive) |
| LTC Ratio | 60% of eligible hard + soft costs (Base) |
| Equity First | 10% of eligible costs prior to first drawdown |
| Interest Rate | 10.5% p.a. (Base) · 11.5% (Conservative) · 9.75% (Aggressive) · Fixed |
| Arrangement Fee | 1.5% of facility · payable on first drawdown |
| Amortisation Start | Month 46 (Base) · linked to first delivery and revenue |
| Tenor | 73 months (6 years + 1 month) |
| IDC Treatment | Capitalized to loan balance during construction pre-amort |
| Pre-payment | Permitted after Year 5 with 30-day notice |
Base Case · Tested quarterly
| Financial Covenant — DSCR | Minimum 1.10× annual (Base) · 1.15× (Conservative) · 1.05× (Aggressive). Actual minimum: 1.31× (Base) |
| Financial Covenant — LTC | Max 60% on principal outstanding vs. eligible costs (Base). Actual max: 62.6%* |
| Pre-sales Covenant | 30% of next-phase units under reservation/promise-to-sell contracts before each phase drawdown |
| Equity Reserve Account | 6 months debt service held in escrow at amortisation start |
| Cash Sweep | 75% of surplus CFADS above debt service swept to principal pre-amortisation |
| Zoning Condition | Written CZ certificate with 20-floor height confirmation required before Phase 2 drawdown |
| Traffic Impact Study | Required per Municipal Ate regulations for commercial > 500 m² |
| Insurance | CAR (Contractor's All Risk) · PI · Public Liability · Decennial |
| Phase 2 Gate | Phase 1 ≥70% sold and zoning confirmed |
| Phase 3 Gate | Phase 2 ≥65% sold |
| Force Majeure | 12-month extension on covenant testing; full restructuring rights if >18 months |
| USES | ||
|---|---|---|
| Item | US$ M | % |
| Hard Costs (Construction) | 380.5 | 72.3% |
| Soft Costs | 63.4 | 12.0% |
| Land | 30.0 | 5.7% |
| Pre-development | 4.0 | 0.8% |
| Sales & G&A | 33.8 | 6.4% |
| Interest & Fees | 14.5 | 2.8% |
| TOTAL | 526.3 | 100% |
| SOURCES | ||
|---|---|---|
| Item | US$ M | % |
| Equity (Land Owner + Partners) | 211.6 | 40.2% |
| Senior Debt Facility | 266.4 | 50.6% |
| Arrangement Fee (capitalised) | 4.0 | 0.8% |
| Capitalized Interest | 10.5 | 2.0% |
| Sales Proceeds (revolving) | 34.0 | 6.5% |
| TOTAL | 526.3 | 100% |