3 Maja 53-55, Myslowice, Poland (II)

Our next investment opportunity is a second tranche of a development loan for a residential development project, located at 3 Maja St. 53-55, Myslowice, Poland.
The development consists of four semi detached and two detached residential buildings. The project is located in the very heart of Gorny Śląsk, one of the most developed areas of Poland.
The project has construction works already well on the way. It is expected to soon reach 50% of the plan.
Crowdestate's investors have an opportunity to invest up to EUR 400,000 in several funding rounds and according to the progress of the construction works.
The amount for this, the second funding round is EUR 100,000.
Investors will be secured with a 1st. rank mortgage.
Loan period is 12 months. The sponsor has a unilateral right to extend the loan agreement for one occasion for 4 months, paying 2% additional interest for the extended loan period.
Investors earn 11% per annum.
The current value of the property is € 263 340 according to that, LTV of this second tranche is 67.12%.