Agenskalna 24, LV-1046, Riga
Residential development in Agenskalns
- Start of investment period04.05.2017
- Start time03.05.2017 12:00
- Asset classResidential
- Investment typeDevelopment
- Investment end date30.11.2020
- Remaining term9 months
- Expected rate of return20.81% p.a.
- Expected cash yield%
- No of investors438
- Goal€500 000
The Project, located at Agenskalna street 24 in Riga, Latvia, will consist of the acquisiiton of land plot and the construction of a residential building in the highly valued Agenskalns neighborhood.
Crowdestate AGEN24 Ltd, a Special Purpose Vehicle (SPV) established for the execution of the current Project (hereinafter: Sponsor) is raising 500,000 euros as the Project's equity (53%) via Crowdestate's real estate crowdfunding platform. The remaining equity (47%) is booked for the professional developer. Project's net profit will be distributed to the investors proportionally to their equity stake in the form of Variable Interest.
The expected duration of the Project is 30 months and the expected return on invested capital (IRR) is 20,8% per annum.