Metsapargi tn 6, Alliku küla, Saue vald (V)
Row house with 10 apartments
- Start of investment period10.06.2019
- Start time05.06.2019 08:00
- Asset classResidential
- Investment typeDevelopment
- Investment end date29.11.2019
- Remaining termOverdue 1-90 days
- Expected rate of return11% p.a.
- Expected cash yield%
- No of investors761
- Goal€250 000
The purpose of current investment opportunity is to finance the construction of 10 apartments (row house) in a Veskimöldre-2 residential area at Metsapargi St. 6, in the total amount of EUR 1,110,000. Current campaign is fifth and last in amount of EUR 250,000. The loan is secured by a first rank mortgage on Metsapargi St. 6 property. Fixed interest rate is 11% pa and the loan agreement is scheduled for 6 months (term of the agreement November 30th, 2019).
The construction works of Metsapargi 6 are in final stage - interior works and landscaping are on completion. The same developer owns immovables next to Metsapargi St. 6: Metsapargi St. 4, Taevasilma St. 3 and Taevasilma St. 5. All registered immovables have construction rights for the construction of 10-apartment buildings.
The Sponsor has signed three real right contracts of sale and first round investors have fully received their loan with interest, and second round investors have received ~140,000 euros loan principal repayment. Currently there are 2 apartments unsold out of 10.
The sales prices for apartments are between 199,000 and 214,000 euros. The size of each apartments is 115.1 m2.