Villa Astor, Jurmala
Mortgage backed loan, 37%LTV
- Fecha límite12.07.2022
- Comienzo del periodo de inversión28.07.2022
- Fecha de comienzo29.06.2022 07:00
- Clase de activosResidencial
- Tipo de inversiónPromoción urbanística
- Fecha de fin de la inversión12.07.2023
- Plazo pendiente11 meses
- Retorno esperado13% anual
- Rentabilidad de efectivo esperada%
- Número de inversores538
- Objetivo€300 000
This real estate development project available for investing is a two 3 floor-building residential apartment project with 24 units. The project is located in the beautiful resort city Jurmala 300 meters from the coast of the Baltic sea with endless white-sand beaches.
Crowdestate investors have previously helped finance the development land plot acquisition. Currently, the Sponsor of the project has completed a redesign of the project and has done all preparation works to start construction of the project.
The Sponsor is providing a 300,000 EUR cash injection which will be used to repay the largest part and interest of the existing 507,000 EUR loan. The goal of this first tranche is 300,000 EUR. The purpose of this loan is to refinance the rest of the existing loan not covered by the sponsor's cash injection.
The fixed interest rate for this funding round is 13% per annum. The loan will be returned and accrued interest will be paid from sales of the built apartment units at the end of 12 month loan period or sooner following the sales of the newly built units.
The loan will be secured by the 1st. rank mortgage on the Pumpura iela 3A property. The market value of this 4,594 m2 land plot is EUR 811,000 which means that the LTV ratio for this financing round is 37%.