• Deadline
  • Start of investment period
  • Start time
    01.09.2022 08:25
  • Asset class
  • Investment type
  • Investment end date
  • Remaining term
    7 months
  • Expected rate of return
    12% p.a.
  • Expected cash yield
  • No of investors
  • Goal
    €62 000

Executive summary

The goal of this opportunity is to finance the acquisition of a project approved to develop 6 individual luxury houses on land with 3 879m2, situated at Sítio das Amoreiras, Arco da Calheta, Madeira Island, Portugal. 

Crowdestate investors will have the opportunity to invest in a mortgaged secured loan in a total amount of 350 000 Euros, arranged in two tranches.

After gathering 288,000 Euros with the first tranche, we are now at the second tranche campaigning for the remaining 62,000 Euros to complete the 350,000 Euros.

The source of reimbursement will be the sale of the plots with a turn-key construction contract or the sale of the built houses. Another possible source of reimbursement can be refinancing from one of the commercial banks in Portugal. The houses are expected to be delivered until December 2023.

The investment tenor for this tranche is up to 12 months

The interest rate is 12% p.a., which will be paid monthly

The Sponsor has an option to extend the loan period by 3 months with the obligation to increase the interest rate by 2% for the extended period.

The interest amounts to be paid monthly will be deducted from the raised value and held in an escrow account during the 12 months.

The principal payment will be made at the end of the loan period.

The loan will be secured with a 1st rank mortgage on the land and future buildings. The land has been evaluated for 636 000 Euros, as per the attached appraisal.

The LTV for this opportunity is 55%.


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