This project provides Crowdestate investors with an opportunity to invest in mortgage secured loan which the Sponsor of the project - EEA Majad OÜ will use as working capital in development project located in Pargi Street 10, Tartu. The funds will be used to refinance current liabilities and to finance sales period of already completed apartments.Loan amount in this opportunity is EUR 230,000 with 16 months loan period.Development of Pargi Street 10 property involves two buildings with 50 units in total and two development phases. In the first phase a historical building (originally used as a public sauna) was reconstructed into apartment/commercial building with 42 units, 1670 m2 of total NLA. This phase is completed, use permit for completed units is obtained and ca. 70% of units are sold.The second phase includes new building to be constructed to the same property - an apartment house with 8 residential units with NLA 785 m2 in total. The second phase is 50% completed and 1 apartment is already booked. Value of this construction as is is valued to EUR 650,000 or EUR 827 per m2.The loan is secured with 1st. lien mortgage on 6 apartments (NLA 515 m2 in total) in the second phase of the development project. Accordingly, current value of the collateral is EUR 426,000 excluding VAT. As according to included valuation document, the expected value of apartments after completion will be EUR 1,800 per square meter (excluding VAT), the value of collateral after completion will be EUR 945,000 (excluding VAT).Gert Roosaar, board member of EEA Majad OÜ has offered his personal assurance in the loan amount to secure the loan further.Loan period is set to 16 months.Interest rate for the loan is 11% per annum. The loan will be returned at the end of the loan period or according to sales of collateral units. The Sponsor has committed to quarterly interest payments.Calculated internal rate of return (IRR) would be 11,44%.Loan-to-value (LTV) ratio for this opportunity  is 54%.

Invest in a real estate development in Estonia and earn 11% p.a.

Mortgage secured real estate investment opportunity

This project provides Crowdestate investors with an opportunity to invest in mortgage secured loan which the Sponsor of the project - EEA Majad OÜ will use as working capital in development project located in Pargi Street 10, Tartu. The funds will be used to refinance current liabilities and to finance sales period of already completed apartments.Loan amount in this opportunity is EUR 230,000 with 16 months loan period.Development of Pargi Street 10 property involves two buildings with 50 units in total and two development phases. In the first phase a historical building (originally used as a public sauna) was reconstructed into apartment/commercial building with 42 units, 1670 m2 of total NLA. This phase is completed, use permit for completed units is obtained and ca. 70% of units are sold.The second phase includes new building to be constructed to the same property - an apartment house with 8 residential units with NLA 785 m2 in total. The second phase is 50% completed and 1 apartment is already booked. Value of this construction as is is valued to EUR 650,000 or EUR 827 per m2.The loan is secured with 1st. lien mortgage on 6 apartments (NLA 515 m2 in total) in the second phase of the development project. Accordingly, current value of the collateral is EUR 426,000 excluding VAT. As according to included valuation document, the expected value of apartments after completion will be EUR 1,800 per square meter (excluding VAT), the value of collateral after completion will be EUR 945,000 (excluding VAT).Gert Roosaar, board member of EEA Majad OÜ has offered his personal assurance in the loan amount to secure the loan further.Loan period is set to 16 months.Interest rate for the loan is 11% per annum. The loan will be returned at the end of the loan period or according to sales of collateral units. The Sponsor has committed to quarterly interest payments.Calculated internal rate of return (IRR) would be 11,44%.Loan-to-value (LTV) ratio for this opportunity  is 54%.

Käesoleva rahastusprojekti raames pakume võimalust investeerida tagatud laenu, millega suurendatakse projekti Sponsori - EEA Majad OÜ käibekapitali. Sponsor soovib kaasata 230,000 eurot kuni 16 kuu pikkuseks perioodiks. Kaasatud vahendid suunatakse Tartus, Pargi tn. 10 asuva arendusprojekti olemasolevate kohustuste refinantseerimiseks ja praeguseks juba valminud korterite  müügipeioodi rahastamiseks. Pargi tn. 10 arendus hõlmab endas kahte hoonet, milles kokku 50 elamis- ja büroopinda ja on jaotatud kahte arendusetappi. Esimeses etapis rekonstrueeriti ajalooline hoone 42 korteri ja bürooga, kokku 1670 m2 müüdavat netopinda. See etapp on valmis, kasutusluba valminud ühikutele on väljastatud ja ca. 70% ühikutest on müüdud. Teine arendusetapp seisneb kinnistule uue hoonemahu ehitamises kokku 785 m2 müüdava netopinna (8 korterit) ulatuses. Antud etapp on 50% ulatuses valmis, 1 korter on broneeritud. Poolelioleva hoone väärtuseks on 650,000 eurot e. 827 EUR/m2.Sponsor kasutab kaasatud kapitali olemasolevate kohustuste refinantseerimiseks ja teise arendusetapi rahastamiseks.Laen on tagatud 1. järjekoha hüpoteekidega teises arendusetapis valmivatele korteritele 6 ühiku e. 515 m2 ulatuses. Tagatisvara hetkeväärtuseks on seega 426,000 eurot käibemaksuta summas. Tagatisvara väärtuseks peale korterite valmimist on vastavalt lisatud hindamisaktile 1800 EUR/m2 (käibemaksuta summas), mis teeb kokku 945,000 eurot käibemaksuta summas.Sponsori esindaja, Hr Gert Roosaar on nõustunud tagama laenu ka isikliku käendusega laenusumma ulatuses.Laenuperioodi pikkuseks on 16 kuud.Laenu intressimääraks on 11% aastas. Laenusumma tagastatakse laenu tähtajal või korterite müümisel. Intressimakseid tehakse kvartaalselt.Investeeringu arvutuslik sisemine tasuvusmäär (IRR) on 11,44% aastas. Laenusumma ja tagatisvara suhteks (LTV) on 54%.

Rahastuseesmärk:	€ 230000
Oodatav tootlus:	11.44 % aastas
Investeerimisperiood:	11 kuud
Riskikategooria:	B Riskihindamise mudel
LTV:	Madal risk %
Capital stack:	Tagatud laen

Pargi 10, Tartu (I)

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