• Deadline
  • Start of investment period
  • Start time
    05.11.2019 12:35
  • Asset class
  • Investment type
  • Investment end date
  • Remaining term
    25 months
  • Expected rate of return
  • Expected cash yield
  • No of investors
  • Goal
    €500 000

Executive summary

With our new project, investors will have the opportunity to participate in equity investment of the residential development project around upper Tallinn lighthouse in Pae district.

1Partner Advisory, together with financial investors (Sponsor), offers Crowdestate investors the opportunity to finance the Lighthouse Development Project with equity in amount of EUR 500,000. The entire amount will be raised in one ongoing campaign. The project has a total equity need of EUR 1,000,000 and Crowdestate investors have a 50% stake in the project. The Sponsor participates in the project's equity with a cash payment in the amount of EUR 500,000. 1Partner Advisory participates in the project both as an investor and a project manager.

The Project will include the construction of a comprehensive and gated residential area - 5 new small apartment buildings (30 apartments) and historic buildings surrounding the lighthouse will be renovated into private and semi-detached houses (7 apartments). The project covers a total sellable area of 2,578.5 m2 (incl. 1,883.3 m2 of new apartment buildings and 695.2 m2 of houses being renovated). Construction permits for 5 new apartment buildings are in place and construction is scheduled to begin in December 2019 or January 2020. Building permit for renovation is expected in February 2020 and renovation works are expected to begin in autumn 2020.

The Sponsor has entered into a preliminary contract for acquisition of the lighthouse property. Seller's responsibility is to obtain building permits and to complete all the technical and architectural design.

Investors’ capital and profit share will be paid from the apartments sale after the mortgage loan and potential subordinated loan. Expected exit time will be in 26 months and base-scenario return rate (IRR) is 20.2%.


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