Kama Grupp AS (I)
- Start of investment period05.07.2019
- Start time02.07.2019 14:45
- Asset classInvestment
- Investment typeOther
- Investment end date27.08.2019
- Remaining termOverdue 1-90 days
- Expected rate of return12.5%
- Expected cash yield%
- No of investors676
- Goal€250 000
Our new project offers investors the opportunity to finance construction and furnishing of a children's playground and entertainment center in Akropole Center in Riga. Crowdestate investors' would finance the project in amount of EUR 450,000. The Sponsor plans to open children's playground and entertainment center on 1850 m2 rental area in November 2019. The Sponsor has developed and operates 5 similar playgrounds in Saint Petersburgs under trademark Jump and Ninja Academy. All playgrounds in Russia are located in big shopping malls. Total project cost of Riga project is approximately EUR 800,000. Amount raised in the first funding round is EUR 250,000.
Investors' loan is secured by a 1st rank mortgage on Suure-Allikmäe registered immovable in Viimsi municipality (Estonia) and on Puhkeranna's registered immovable in Kuusalu municipality (Estonia), valued at a total of EUR 725,000. In addition, the loan is secured by a 2nd rank mortgage on the property of Kordoni 65 in Jõelähtme municipality (Estonia) and a guarantee from the Sponsor's Latvian subsidiary.
Interest rate is fixed 12.5% per annum, interest payments are monthly and the principal repayment would begin in January 2020. Expected internal rate of return (IRR) is 13.2% per annum.
Loan maturity is 24 months. The Sponsor will refinance Crowdestate investors' loan with a long-term bank loan after entertainment center has started operating.