Barona 55-18, Rīga
Mortgage backed short term loan
Pending settlement
- Deadline19.02.2021
- Start of investment period01.01.1970
- Start time12.02.2021 12:20
- Asset classOffice
- Investment typeSpeculative
- Investment end date19.02.2022
- Remaining term11 months
- Expected rate of return11% p.a.
- Expected cash yield%
- No of investors371
- Goal€185 000
Executive summary
With this project, the Sponsor aims to raise 185 500 euros in order to provide capital to one of his businesses SIA First LatCard by securing the loan by a first lien mortgage on 191,8 m2 large office spaces in Riga city center.
The aim of the loan is to provide capital for operational and investment activities of the Sponsor's company SIA First LatCard (Reg. no. 40103645767).
The recent real estate value estimation document states that the real estate value of the pledged property is 270 000 EUR
which gives Crowdestate investors a position with an LTV ratio of 68,7%.
This bridge loan offers Crowdestate investors a short-term investment opportunity with the term of 12 months at 11% annual interest rate.