Koru põik 9 (II), Saue vald, Alliku küla
6-apartment row house in Laagri, Estonia
- Start of investment period29.11.2019
- Start time27.11.2019 15:00
- Asset classResidential
- Investment typeDevelopment
- Investment end date25.06.2020
- Remaining termOverdue 1-90 days
- Expected rate of return11% p.a.
- Expected cash yield%
- No of investors632
- Goal€150 000
The new investment opportunity offered to Crowdestate investors includes financing of second phase of Koru poik 9 row-house construction in amount of EUR 150,000. 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 10.5% p.a and interest payments are monthly. IRR of the project is 11%. Investment time horizon is 11 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.