Funded
  • Deadline
    22.01.2020
  • Start of investment period
    13.01.2020
  • Start time
    08.01.2020 11:00
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    31.12.2020
  • Remaining term
    11 months
  • Expected rate of return
    11% p.a.
  • Expected cash yield
    %
  • No of investors
    719
  • Goal
    €400 000

Executive summary

The purpose of current investment opportunity is to finance construction of terraced house project with 12 apartments in 3 separate buildings at Paevälja Road 6, Paevälja Road 8 and Paevälja Road 10, Viimsi, Estonia. 

The amount of this funding round is EUR 400,000. Crowdestate’ investors have previously invested in this project in the amount of EUR 400,000. 

The source of loan repayment is refinancing through a bank loan or by sales of completed apartments. Sponsor plans to complete the construction by Summer 2020.

As we publish this project, the construction is 45% completed and 4 apartments are sold. As apartments will be completed, this current sales rate is sufficient to return the loan principal and pay out interest.

The investment earns a fixed interest rate at 11% p.a. and the loan term is scheduled up to 12 months

The loan is secured by a 1st rank mortgage on 11 apartments of Paevälja Road 6, Paevälja Road 8 and Paevälja Road 10 properties. One of the apartments is mortgaged to local municipality to secure investments in infrastructure related to Paevälja Road development.

The value of the collateral is EUR 1,377 million. Accordinglyt, the ratio of total amount of liabilities and collateral value (LTV) is 64%.

Crowdestate

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