Av Fernão Magalhães, Miramar (II) Portugal
Secured construction loan for luxury real estate individual house
- Start of investment period08.06.2022
- Start time31.05.2022 05:45
- Asset classResidential
- Investment typeDevelopment
- Investment end date03.06.2023
- Remaining term9 months
- Expected rate of return12% p.a.
- Expected cash yield%
- No of investors151
- Goal€45 000
With this investment opportunity, the Crowdestate investors have the opportunity of investing in a real estate secured mortgage bridge loan in the amount of 45 000 Euros.
This is the 2nd tranche for the same purpose after we have successfully funded the 1st tranche of 60 000 Euros.
The purpose of the loan is to provide the initial capital for the start of the construction works in the real estate property located in Avenida Fernão Magalhães, Miramar, Arcozelo, Vila Nova de Gaia, Portugal.
This project has 2 Luxury Villas (Villa A and B), extremely well-located meters away from the beach.
Villa B is already sold, and Villa A has recently entered the market, priced at 1 350 000 Euros.
To secure this loan of 45 000 Euros, the Sponsor is offering the first-rank mortgage over the real estate project land named Heliantia House, Vila Nova de Gaia, Portugal, a real estate development project that is currently under licensing process at the city hall. According to the attached appraisal, the estimated market value of this real estate collateral is 361 000 Euros. Therefore, considering the 1st rank mortgage of 60 000 Euros, and now this 2nd tranche of 45 000 Euros, if Crowdestate investors fund the total amount, we reach an LTV of 29%.
The interest rate of the loan is 12% per annum.
The loan period is 12 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 principal and interest payments will be made at the end of the loan period.
The loan will be repaid from the sale of the property, sale of the collateral, refinancing, or the Sponsor's operating revenues.