Travessa da Figueirôa, Porto, Portugal (II)
Secured loan for 2 apartments building in Porto city center
- Chiusura raccolta08.04.2022
- Inizio del periodo di investimento08.04.2022
- Ora di inizio27.03.2022 06:00
- Categoria di immobileResidenziale
- Tipo di investmentoSviluppo immobiliare
- Data di fine dell'investimento08.04.2023
- Orizzonte d'investimento restante7 mesi
- Rendimento annuo11% annuo
- Rendimento in contanti atteso%
- N. di investitori107
- Obiettivo€90 000
Progetto in sintesi
The Real Estate project in Tranvessa da Figueirôa has started the renovation works, and now the Sponsor aims to raise funds to continue with it. Therefore, Crowdestate investors have the opportunity of investing with this 90 000 Euros second tranche.
The loan is secured by a 1st rank mortgage on the development project real estate. As per the attached appraisal, this collateral property, as is, has a market value of 331 922 Euros. However, despite this market value, we will consider the purchasing price for the LTV calculation since Crowdestate investors financed 85 000 Euros. Therefore, if we use only 85 000 Euros from the first tranche and the 90 000 Euros from this one, the LTV for this tranche is 63% over the purchase price. Still, because it is Crowdestate intention to finance additional 95 000 Euros for the reconstruction in future tranches, we are going to consider the maximum LTV for this opportunity as 73%.
This is a short-term investment opportunity. The principal and interest payment will be made as a bullet payment at the end of the 12-month loan period, or earlier following the sales of the apartments.
The reconstruction process is ongoing, and about 42% of the entire process is finished.
The interest rate of the loan is 11% per annum.
The loan period is 12 months, with a Sponsor's option to extend the loan period by 6 months with the obligation to increase the interest rate by 2% for the extended period.
The loan repayment will happen with the sale of the apartments or the Sponsor's operating revenues.