Funded
  • Deadline
    22.08.2022
  • Start of investment period
    04.08.2022
  • Start time
    02.08.2022 13:00
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    04.05.2023
  • Remaining term
    8 months
  • Expected rate of return
    11% p.a.
  • Expected cash yield
    %
  • No of investors
    131
  • Goal
    €52 900

Executive summary

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 52 900 Euros 5th 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 of 185 000 Euros for the LTV calculation since Crowdestate investors financed 85 000 Euros for this purpose

So far, Crowdestate's investors have financed the development of this project in the amount of 175 000 Euros. 85 000 Euros have been used to co-finance the purchase of the property. A further 90 000 Euros was invested in the project reconstruction. The volume of the last two financing rounds is 95 000 Euros. After the inclusion of this financing round, the LTV of the project is 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 9-month loan period or earlier following the sales of the apartments.

The reconstruction process is ongoing, and about 64% of the process is finished.

The interest rate of the loan is 11% per annum.

The loan period is 9 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.

Crowdestate

Site is down for maintenance, please check back in 15 minutes