Funded
  • Deadline
    19.05.2017
  • Start of investment period
    04.05.2017
  • Start time
    03.05.2017 12:00
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    30.11.2020
  • Remaining term
    9 months
  • Expected rate of return
    20.81% p.a.
  • Expected cash yield
    %
  • No of investors
    438
  • Goal
    €500 000

Executive summary

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.

Crowdestate has partnered up with Hepsor OÜ as an advisor, and Mitt & Perlebach OÜ as a potential main contractor, to ensure the successful execution of the Project.

The expected duration of the Project is 30 months and the expected return on invested capital (IRR) is 20,8% per annum.

Crowdestate

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