Soinaste 8d - 8, Tartu
- Start of investment period08.02.2019
- Start time30.01.2019 10:00
- Asset classResidential
- Investment typeDevelopment
- Investment end date30.10.2019
- Remaining termOverdue 1-90 days
- Expected rate of return11%
- Expected cash yield%
- No of investors485
- Goal€70 000
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 m2) by 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.