Our new funding offer is a residential development project in Tartu at Võru St. 108. Investors have funded the acquisition of the property and construction in total amount of 293,800 euros. Amount to be raised in the current 12. tranche is 13,400 euros, which corresponds to construction works performed as at February 22nd, 2024.Võru St. 108 is a residential building with eight apartments in need of reconstruction. The project owner (Estonian company Soinaste Arendus OÜ) has acquired the property and plans to renovate the apartment building and then sell apartments. After the renovation, the building has a total of 287.4 m2 of saleable area. There will be six 2-room and two 3-room apartments.  Investors' loans will be secured by a 1st mortgage on Võru St. 108 property. 1st rank joint mortgage has been established on eight apartments of Võru St. 108. The assessed market value and purchase price of the property is 225,000 euros. LTV of the project is 69% after the current 12. round and will not exceed 70% during the construction. The loan period is ~8 months (until 31.10.24), plus a one-time extension option of up to 2 months. Fixed interest rate is 13% p.a. from the loan balance. There will be no periodic interest payments, and the accrued interest is paid either at the end of the loan period or at a signing of apartments’ real right sales contracts. The loan will be repaid from the apartment sales revenue. Investors have previously funded the construction of project owner’s Rattasepa 33 semi-detached house in Tartu. The cooperation went smoothly, construction and loan repayment took place on time.

Real estate investment opportunity in Estonia for property development offering 13% annual interest rate

Real estate investment | Võru St. 108

Our new funding offer is a residential development project in Tartu at Võru St. 108. Investors have funded the acquisition of the property and construction in total amount of 293,800 euros. Amount to be raised in the current 12. tranche is 13,400 euros, which corresponds to construction works performed as at February 22nd, 2024.Võru St. 108 is a residential building with eight apartments in need of reconstruction. The project owner (Estonian company Soinaste Arendus OÜ) has acquired the property and plans to renovate the apartment building and then sell apartments. After the renovation, the building has a total of 287.4 m2 of saleable area. There will be six 2-room and two 3-room apartments.  Investors' loans will be secured by a 1st mortgage on Võru St. 108 property. 1st rank joint mortgage has been established on eight apartments of Võru St. 108. The assessed market value and purchase price of the property is 225,000 euros. LTV of the project is 69% after the current 12. round and will not exceed 70% during the construction. The loan period is ~8 months (until 31.10.24), plus a one-time extension option of up to 2 months. Fixed interest rate is 13% p.a. from the loan balance. There will be no periodic interest payments, and the accrued interest is paid either at the end of the loan period or at a signing of apartments’ real right sales contracts. The loan will be repaid from the apartment sales revenue. Investors have previously funded the construction of project owner’s Rattasepa 33 semi-detached house in Tartu. The cooperation went smoothly, construction and loan repayment took place on time.

Pakume rahastamiseks uut elamuarenduse projekti asukohaga Võru tn 108, Tartu. Investorid on varasemate voorude raames rahastanud kinnistu ostu ja ehitust kokku summas 293 800 eurot. Praeguse 12. vooruga rahastatakse hoone ümberehitustöid mahus 13 400 eurot, mis vastab akteeritd ehitustöödele seisuga 22.02.24.Võru 108 kinnistul asub renoveerimist vajav kaheksa korteriga elamu. Projekti omanik (Soinaste Arendus OÜ) on soetanud kinnistu ja plaanib kortermaja renoveerida ning seejärel korterid müüa. Majas on peale ümberehitust kokku 287,4 m2 müüdavat pinda. Kuus korterit on 2-toalised ja kaks korterit 3-toalised. Investorite laenud on tagatud 1. järjekoha ühishüpoteegiga Võru 108 korteriomanditele. Vara hinnatud turuväärtus ja soetushind on 225 000 eurot. Praeguse 12. rahastamisvooru järgselt on projekti LTV 69%. Ehituse rahastamise käigus ei ületa projekti LTV 70%. Laenuperiood on u. 8 kuud (kuni 31.10.24), millele lisandub ühekordne pikendamise võimalus kuni 2 kuud. Laenult makstakse fikseeritud intressi 13% laenu jäägilt aasta baasil. Perioodilisi intressimakseid ei tehta ja kogunenud intress makstakse kas laenuperioodi lõpus või korteriomandite asjaõiguslike müügilepingute sõlmimisel. Laenusumma tagasimaksmine toimub renoveeritud korteriomandite müügitulust. Investorid on varasemalt rahastanud projektiomaniku Rattasepa tee 33 paarismaja arendust Tartus. Koostöö sujus tõrgeteta, projekti ehitus ja investorite laenu tagasimakse toimusid tähtaegselt.

Kortermaja renoveerimise finantseerimine, Tartu linnas, laenuintress 13% aasta baasil

Rahastuseesmärk:	€ 13400
Oodatav tootlus:	13.2 % aastas
Investeerimisperiood:	8 kuud
Riskikategooria:	C Riskihindamise mudel
LTV:	Madal risk 69%
Capital stack:	Tagatud laen

Võru tn 108, Tartu (XII)

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