Funded
  • Deadline
    23.01.2023
  • Start of investment period
    24.01.2023
  • Start time
    03.01.2023 10:00
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    24.10.2023
  • Remaining term
    8 months
  • Expected rate of return
    14% p.a.
  • Expected cash yield
    %
  • No of investors
    86
  • Goal
    €206 800

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 206,800 Euros.

In previous tranches, a total of 215,000 Euros was raised, but the collateral used was a different property. 51,200 Euros were raised in the last tranche using this same collateral.

For this financing opportunity the Project owner is offering the first rank mortgage over the land plot and the existing construction. All next tranches will also be secured by this project's mortgage.

The purpose of the loan is to provide capital for the continuation of the construction of Avenida Fernão Magalhães, Miramar, Arcozelo, Vila Nova de Gaia, Portugal.

This project has 2 Luxury Villas (Villa A and B), extremely well-located few 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 the collateral as is 431,000 euros. Therefore, considering the previous tranche of 51,200 euros and this tranche of 206,800 euros we reach a LTV of 60%.

The interest rate of the loan is 14% per annum. Interest is ayable on the quarterly basis.

The loan period is 9 months and the Project owner has an opportunity to extend it by maximum of 3 months with the obligation to increase the interest rate by 2% for the extension period.

Loan principal will be paid at the end of the loan period.

The withholding tax rate for all projects based in Portugal is 10% for all investors.

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Crowdestate

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