Funded
  • Deadline
    10.07.2020
  • Start of investment period
    01.07.2020
  • Start time
    29.06.2020 07:30
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    30.06.2021
  • Remaining term
    11 months
  • Expected rate of return
    11.57% p.a.
  • Expected cash yield
    %
  • No of investors
    448
  • Goal
    €75 000

Executive summary

The Sponsor is building a private house on Tervise St. 11 property in Laagri borough (20 minutes from Tallinn city center) and offers investors an opportunity to finance the construction in the amount of EUR 150,000. The amount to be raised in the first round is EUR 75,000. Construction is underway: frame and exterior walls are built, windows have been installed and the facade work has begun. Cost of construction is EUR 248,000 (incl. VAT) and the deadline for the works is September 2020. There will be two funding rounds. The house's net living area is 202.5 m2, plus garage and terraces. 

Investors' loans are secured by a first-rank mortgage on Tervise St. 11 property. Fixed interest rate is 11% p.a., investment period is 12 months and the internal rate of return (IRR) of the loan with monthly interest payments is 11.57%. The market value of the private house is estimated at EUR 427,000. The loan-to-value ratio (LTV) is 35%

The requested loan will be repaid by refinancing with a long-term bank loan or from revenues of the Sponsor's other projects (eg. from sales revenue of Metsapargi St. 4 row-house apartments). 

Crowdestate investors have financed the Sponsor's row-house projects at Veskioja St. 1 and Metsapargi St. 4 and the semi-detached house at Viirpuu tn 12. All projects have been successful and investors' capital and interest have been repaid earlier.

Crowdestate

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