Exited
  • Deadline
    07.02.2019
  • Start of investment period
    08.02.2019
  • Start time
    30.01.2019 10:00
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    30.10.2019
  • Remaining term
    Overdue 1-90 days
  • Expected rate of return
    11%
  • Expected cash yield
    %
  • No of investors
    485
  • Goal
    €70 000

Executive summary

The purpose of the current investment opportunity is to refinance a renovation loan for an apartment located at Soinaste 8d-8, Tartu for its sales period.

The source of repayment of the loan is either sale of the property or refinancing of the loan (in case of the rental model) at the end of the loan period. The loan is secured with a first lien mortgage set on the property.

Reconstruction of the apartment involved changing apartment plan. Net area of the apartment was increased by 45% (from 69 m2 to 99,9 m2by creating a partial mezzanine level. 

The project is approved by the Tartu Municipality.

Currently, the apartment is as "white box", meaning that the apartment is ready for finishing works. Sponsor intends to start the finishing works in February 2019 by installing floors, doors, tiles, sanitary equipment etc.

The Sponsor has identified a potential buyer for the apartment and is planning to schedule the notarized sales transaction to take place in March - April 2019. 

This project has a high potential of an early exit.

Crowdestate

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