• Deadline
  • Start of investment period
  • Start time
    16.05.2019 06:45
  • Asset class
  • Investment type
  • Investment end date
  • Remaining term
    Overdue 90+ days
  • Expected rate of return
    19% p.a.
  • Expected cash yield
  • No of investors
  • Goal
    €1 500 000

Executive summary

This opportunity consists of providing an unsecured loan to Estera Development Holding OÜ (Estonia), a holding company owning land plots in three attractive locations in Riga and its metro area (Latvia). 

The aim of this Project is to allow the Sponsor to partly restructure its current capital structure and to provide financing for preparing its Latvian development land holdings for construction of apartments.

The Sponsor, Estera Development Holding OÜ operates through wholly owned Latvian subsidiary companies, which are owners and developers of formentioned land portfolio. 

The same team has previously successfully concluded three funding campaigns through Crowdestate: Briezu 7a development project (funds returned to investors with early redemption), Mezkalna 4 development project (currently ongoing), Estera Development Makonkalns (currently ongoing).

The repayment of the current loan is envisioned through sales of prepared land areas for development to new investors attracted by Estera Development before the start of construction.

The Sponsor is planning to raise subordinated unsecured loans in total amount of EUR 750,000 to EUR 1,500,000 in one or several tranches. Shareholders of the Sponsor undertake to subscribe at least EUR 357,000 and up to EUR 750,000 of the total campaign amount. 

The duration of this investment opportunity is 30 months with maturity date set on 31.12.2021. The Sponsor is entitled for an early partial or full redemption option after 12 months after settlement of the loan agreement. 

Interest rate is fixed on 19% per annum, the Sponsor has committed to yearly interest payments with 12 months payment interval.

The calculated internal rate of return (IRR) for this opportunity is 19,0%.


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