Koru põik 9, Saue vald, Alliku küla (I)
6-apartment row house in Laagri, Estonia
- Start of investment period21.06.2019
- Start time14.06.2019 08:00
- Asset classResidential
- Investment typeDevelopment
- Investment end date17.06.2020
- Remaining termOverdue 90+ days
- Expected rate of return11% p.a.
- Expected cash yield%
- No of investors622
- Goal€300 000
The new investment opportunity offered to Crowdestate investors is financing of first phase of Koru poik 9 row-house construction in amount of EUR 300,000. Total cost of construction is EUR 812,000 and construction has already begun. The development is financed in tranches according to the invoices submitted by the main contractor Soome Maja OÜ. With each new funding round, the value of the underlying asset will increase until the row house is finished.
Loan is secured by a first rank mortgage, fixed interest rate is 11% p.a and interest payments are monthly. IRR of the project is 11.55%. Investment time horizon is 15 months.
Apartment sizes are 130 m2 (4 apartments) and 115 m2 (2 apartments). Prices are EUR 249,000 and EUR 224,000 respectively.
Koru poik 9 property is located in Veskimöldre-2 residential area - new and developing area between Nõmme Pääsküla, Laagri small town and Harku forest, about 20 minutes drive from the center of Tallinn. Crowdestate investors have financed Sponsor's similar row-house developments at Koru poik 3 (exited) and Koru poik 1 (construction is at completion stage). Sale of row-house apartments has been succesfull. Two apartments have already been sold at Koru poik 9.