Funded
  • Deadline
    17.01.2020
  • Start of investment period
    13.01.2020
  • Start time
    10.01.2020 10:40
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    31.12.2020
  • Remaining term
    11 months
  • Expected rate of return
    15% p.a.
  • Expected cash yield
    %
  • No of investors
    746
  • Goal
    €330 000

Executive summary

Our new project offers an opportunity to invest in the development of Metsapargi Kodud apartment buildings. The Sponsor will build 4 apartment buildings with a total of 60 apartments on Metsa tee 30, 32, 37 and 41 properties in Iru village, close to Tallinn border. In the first phase, Crowdestate investors will be offered the opportunity to co-finance the construction of apartment buildings in the form of unsecured loans in an amount of EUR 330,000. If necessary, the Sponsor will raise additional capital of up to EUR 320,000 in the second phase. The maximum total exposure of subordinated loan would be EUR 650,000. 

Loan term is up to 11 months and the fixed interest rate is 15% on an annual basis

Construction is in the process of being completed and 2/3 of the apartments have been sold (to date 40 apartments have been sold)

Four apartment buildings have total sellable area of 3,030 m2. Apartments range in size from 33 to 76 m2 (average 50 m2) and prices from EUR 64,000 to 129,000 (average price EUR 96, 000 or EUR 1,905 per m2). Signing of real right contracts will start in March 2020. 

Crowdestate investors also funded Sponsor's previous development project at Sooja 2 in Saue (88 apartments). The project was successful and the investors' capital and accrued interest was repaid on time. 


The current Metsa tee development project and Sponsor are not related to the Metsa tee 31/33/35 project previously funded by Crowdestate investors!

Crowdestate

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