Saules aleja 2A, LV-1002, Riga
Residential development in Agenskalns
- Start of investment period20.03.2017
- Start time09.03.2017 13:00
- Asset classResidential
- Investment typeDevelopment
- Investment end date20.11.2021
- Remaining term21 months
- Expected rate of return20.46% p.a.
- Expected cash yield%
- No of investors678
- Goal€950 000
The Project, located at Saules Aleja 2A in Riga, Latvia will include the purchase of a land plot and the construction of a residential building next to a park and a beautiful pond in the highly sought after Agenskalns neighborhood.
Crowdestate SA2 Ltd, a company founded specifically for the execution of the current Project (hereinafter: Sponsor) will raise 950,000 Euros as the Project equity (50%) via Crowdestate platform. The remaining equity will be reserved for the professional developer. Project's full net profit will be distributed between the investors in the form of Variable Interest.
To ensure the successful execution of the Project, Crowdestate has partnered up with Hepsor OÜ, a development company, part of Mitt & Perlebach OÜ, an Estonian main contractor company with vast experience in residential development and construction in Estonia.
The expected duration of the Project is 30 months and the expected return on invested capital (IRR) is 20.46% per annum.