Barona 55, Rīga
Mortgage backed short term loan
- Start of investment period03.03.2021
- Start time28.01.2021 07:45
- Asset classResidential
- Investment typeSpeculative
- Investment end date03.02.2022
- Remaining termOverdue 90+ days
- Expected rate of return10.7% p.a.
- Expected cash yield%
- No of investors883
- Goal€310 000
With this project, the Sponsor aims to raise 310,000 euros in order to provide capital to one of his businesses SIA First LatCard by securing the loan by a first lien mortgage on a spacious 326,2 square meter large 7 room apartment in Riga city centre.
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 477 000 EUR which gives Crowdestate investors a position with an LTV ratio of 64,9%.
This bridge loan offers Crowdestate investors a short-term investment opportunity with the term of 12 months at 10,7% annual interest rate.