Kotzebue 14, 10412 Tallinn
Multifamily development in Kalamaja
- Start of investment period14.10.2015
- Start time07.10.2015 10:00
- Asset classResidential
- Investment typeDevelopment
- Investment end date31.03.2020
- Remaining termOverdue 90+ days
- Expected rate of return20% p.a.
- Expected cash yield%
- No of investors145
- Goal€370 400
The Sponsor of this project will reconstruct the currently unoccupied office building into a multi-family residential building with commercial spaces on the ground floor. The construction contract is in the final negotiation phase and the building permit being processed since April 2015.
The permit is expected to be issued in late 2015 and construction works starting in the beginning of 2016. Duration of this project is about 18 months and the last vacant units are expected to be sold by March 2017.
The 3 main shareholders wish to release some of their investments from this project and invest them into the preparation of a new one. Crowdestate members can co-invest 365.000 euros into this project’s equity and and earn an estimated 20% p.a. returns from this investment.