Funded
  • Deadline
    17.10.2019
  • Start of investment period
    18.10.2019
  • Start time
    11.10.2019 12:20
  • Asset class
    Retail
  • Investment type
    Development
  • Investment end date
    30.09.2020
  • Remaining term
    10 months
  • Expected rate of return
    11.2%
  • Expected cash yield
    %
  • No of investors
    901
  • Goal
    €340 000

Executive summary

As part of our new investment opportunity, investors will be able to finance the construction of a shopping center in Tallinn, Laagri on Instituudi tee 132 property. Total loan amount is up to EUR 1.3 million and it will be funded through 4 rounds. The amount to be raised in current first round is EUR 340,000. The loan is secured by a second-rank mortgage on Instituudi tee 132 property. Interest rate of the loan is 11.2% on an annual basis and it is paid in a lump sum at the end of the loan period or when the property will be sold. Loan period is up to 12 months.

IMPORTANT: The construction loan is secured by a 2nd rank mortgage and after the existing mortgage is removed, the Crowdestate investors' loan will be secured by a 1st rank mortgage on Institute tee 132 (see Project Description section).

Crowdestate investors contributed equity investment in the same project in October 2018.

The sponsor will build a 2,408 m2 shopping center for a leading retail chain Coop. The total space leased by the anchor tenant is 1,260 m2. The construction loan borrowed from Crowdestate investors and interest will be repaid by selling the income generating property to a financial investor. Construction loan and accrued interest will be repaid first. After that, equity investors' investment, preferred interest and profit share.

The shopping center is under construction - the building's frame and roof have been installed, sandwitch panels, external networks and access roads are being constructed. The shopping center is being built by Nordlin Ehitus and the construction deadline is December 15, 2019. The Sponsor has so far financed the construction and preparatory work of the building from the equity capital.

Crowdestate

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