Funded
  • Deadline
    14.07.2022
  • Start of investment period
    22.07.2022
  • Start time
    30.06.2022 09:55
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    31.07.2023
  • Remaining term
    11 months
  • Expected rate of return
    12% p.a.
  • Expected cash yield
    %
  • No of investors
    241
  • Goal
    €85 000

Executive summary

The goal for this opportunity is to finance the completion of the construction works for 3 houses on a total land of 447 sqm situated at 1 Mai street, T29, P 346/1, 346/2, Lot 2, Otopeni, Ilfov County, Romania. This will be Phase 1 of a total 6 houses project. Phase 2 will be represented by the further development of the remaining 3 houses on a second land plot of 449 sqm.

Crowdestate investors will have the opportunity to invest in a mortgaged secured senior construction loan in a total amount of EUR 200,000, arranged in 3 tranches.This is the 1st tranche of the investment opportunity for EUR 85,000. 

The source of reimbursement will be the sale of the houses when finalized. The first 3 houses are expected to be delivered by the end of December 2022. The second possible source of reimbursement can be refinancing from one of the banks operating in Romania.  

The investment tenor for this tranche is up to 12 months. The interest rate is 12% p.a. and it will be paid upon the selling of the objective, partially or in whole, together with the principal, but no later than the loan’s maturity. The loan will be secured with a 1st rank mortgage on the land and future houses. The land & existing structures of the first 3 houses, that are in the same stage of construction at the present moment, have been evaluated by SVN Research & Evaluation Advisors for EUR 168,400, out of which EUR 93,400 for the land and the 3 houses under construction for EUR 75,000. Therefore, the LTV for the 1st tranche is ~50%.

Crowdestate

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