Exited
  • Deadline
    13.04.2020
  • Start of investment period
    13.04.2020
  • Start time
    01.04.2020 09:00
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    01.06.2020
  • Remaining term
    Overdue 90+ days
  • Expected rate of return
    13% p.a.
  • Expected cash yield
    %
  • No of investors
    471
  • Goal
    €200 000

Executive summary

The purpose of current investment opportunity is to finance the construction of 10-apartment row-house (semi-detached house) at Metsapargi St. 4 plot in Veskimöldre-2 residential area near Tallinn. The construction is in the final stage (interior works are in progress) and the Sponsor is planning to raise EUR 200,000. The Sponsor has invested EUR 800,000 own equity (acquisition of the property and financing of the construction). Crowdestate investors' loan will be secured by a 1st mortgage, investment period is 6 months and fixed interest rate is 13% per year and interest is payable at the end of the period.

The Sponsor has signed three preliminary sales contracts (for three apartments offered as collateral) to the total value of EUR 575,000 (incl. VAT). Loan to value (LTV) ratio would be 42% (ratio of the loan principal to the price of apartments, excluding VAT). Construction completion date is May 15th, 2020 and apartment ownership must be transferred to buyers by June 30th, 2020 latest.

Crowdestate investors have previously funded the Sponsor's Veskioja St. 1 row-house development at the same area. The project was a successful, the investors' capital and interest were repaid earlier.

Sales prices of Metsapargi 4 are between EUR 185,000 and 195,000 per apartment and size of each apartment is 126 m2.

Crowdestate

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