Published
  • Deadline
    13.12.2022
  • Start of investment period
    01.01.1970
  • Start time
    22.11.2022 09:00
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    14.06.2024
  • Remaining term
    18 months
  • Expected rate of return
    14% p.a.
  • Expected cash yield
    %
  • No of investors
    92
  • Goal
    €258 000

Executive summary

With this investment opportunity, Crowdestate investors have the opportunity of investing in a real estate secured mortgage construction loan in
the amount of 258 000 Euros
.

In previous tranches, a total of 215 000 Euros was raised, but the collateral used was a different property.

For this financing opportunity the Sponsor is offering the first rank mortgage over the plot of land and the existing construction works done at this
target project. All next tranches will also be secured with this project mortgage.

The purpose of the loan is to provide capital for the continuation 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 pre-sold, and Villa A is still available.

According to the attached appraisal, the estimated market value of this real estate collateral as is, is 431 000 Euros. Therefore, considering this tranche of 258 000 Euros, if Crowdestate investors fund the total amount, we reach an LTV of 60%.

The interest rate of the loan is 14% per annum. Interests to be paid quarterly.

The loan period is 18 months, with a Sponsor's option to extend the loan period by 3 months with the obligation to increase the interest rate by 2% for the extended period.

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

Almah_Miramar_Video

Crowdestate

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