Kreutzwaldi 59c, 65610 Võru (X)
Mortgage-backed residential construction loan
- Start of investment period08.10.2019
- Start time27.09.2019 13:00
- Asset classResidential
- Investment typeDevelopment
- Investment end date30.09.2020
- Remaining term11 months
- Expected rate of return15%
- Expected cash yield%
- No of investors1271
- Goal€790 000
Hereby we present 10th. funding round for apartment building development at Kreutzwaldi 59c, in Võru, Estonia.
In this current tranche the Sponsor, Tamula Kodu OÜ targets funding of EUR 790,000. Including previous investments, the loan balance in this project is EUR 2,157,000.
The objective of this investment opportunity is to refinance current loans.
There are 68 apartments in this project. As of the date of this round of financing, 37 apartments have been sold under a notarial contract.
The sale of 33 apartments will be sufficient to return all the loans.
The project is currently in the phase of obtaining use permit.
The fixed interest rate for the funding round is 15% on an annual basis.
The loan period is 12 months, i.e. the deadline is 30.09.2020. The sponsor considers it possible to repay the loan significantly earlier.
The loan is secured by a 1st. rank mortgage in favor of Crowdestate Collateral Agent for a total amount of EUR 3,000,000.