Ausekļa iela 4 – 9
Mortgage-backed 12 month loan
- Start of investment period19.05.2021
- Start time13.04.2021 13:15
- Asset classResidential
- Investment typeDevelopment
- Investment end date27.04.2022
- Remaining term10 months
- Expected rate of return11% p.a.
- Expected cash yield%
- No of investors698
- Goal€290 000
With this project, the Sponsor aims to raise 290 000 Euros of secured loan to refinance existing loans with Bulkestate.
The loan will be secured by a 1st rank mortgage on the real estate with 580 000 Euros market value, this is an apartment located at a prestigious location - Ausekļa iela 4, Rīga, in the Art Nouveau district of Riga.
Since the recent real estate value estimation document from one of the largest and respectable real estate companies in Latvia - LATIO states that the real estate value of the pledged property is 580 000 Euros, it gives Crowdestate investors of this tranche a position with an LTV ratio of 50%.
This is a short-term investment opportunity, the principal and interest payment will be done as a bullet payment at the end of the 12 month loan period.