La Quince, S. de R.L.
Category B projects have potential environmental and/or social impacts and risks that are less adverse than those of a Category A and which are generally limited to the project site, largely reversible and can be mitigated via measures that are readily available and feasible to implement in the context of the operation.
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
Promotor: Conservatorio, S.A. (“Conservatorio”)
Fonseca, Juan Reyes
USD $ 7,500,000
Project scope and objective
Conservatorio, S.A. ("Conservatorio" or "the Company") is a real estate development company and the sponsor of La Quince ("La Quince" or "the Project") through its subsidiary La Quince, S. de R.L., a special purpose vehicle (“SPV”) incorporated for such purpose. The Project site is centrally located in the historic neighborhood of Santa Ana, within the Historic Monumental Complex of the Historic Center of Panama City, recognized as a United Nations Educational, Scientific and Cultural Organization (“UNESCO”) World Heritage Site. The Project consists of five buildings between Calle B, Calle C, and Calle Quince, each with its own characteristics for mixed-income and mixed-use, totaling 145 apartments and 40 commercial spaces.
The operation consists of a corporate loan for up to US$7.5 million (seven million five hundred thousand dollars), with two tranches: (i) A committed tranche for a five year term loan to finance the construction and sale period of the residential units (the "Project"); and (ii) an uncommitted tranche for a four year term loan, if needed, to promote the set-up of the commercial spaces to be occupied by Micro, Small and Medium Enterprises (MSMEs) and other organizations which shall also include an innovation hub and cultural spaces.
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