Heliantia House, Vila Nova de Gaia, Portugal
1st rank mortgage loan in Portugal
- Start of investment period14.01.2022
- Start time24.12.2021 18:00
- Asset classResidential
- Investment typeDevelopment
- Investment end date14.07.2023
- Remaining term17 months
- Expected rate of return10% p.a.
- Expected cash yield%
- No of investors212
- Goal€100 000
With this investment opportunity, the Crowdestate investors have the opportunity to invest in a secured mortgage loan in the amount of 100 000 Euros.
The purpose of the loan is to provide capital for the project licensing and for the start of the infrastructure construction works of a luxury house in the property located at Rua Heliantia, Valadares, Vila Nova de Gaia, Portugal.
This property is in the licensing process to obtain a construction permit.
To secure this loan of 100 000 Euros, the Sponsor is offering the first-rank mortgage over the existing land located at Campo da Cova da Fonte, Lugar das Ameixoeiras, Gulpilhares, Vila Nova de Gaia, Portugal. The same land described in the Arana BioVillas, Gulpilhares, Vila Nova de Gaia, Portugal. According to the attached appraisal, the estimated market value of this collateral is 330 000 Euros. Therefore, considering the 1st rank mortgage of 100 000 Euros together with the mortgage of the Arana BioVillas, if Crowdestate investors fund the total amount, we reach an LTV of 62%.
The interest rate of the loan is 10% per annum, paid semiannually.
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.
The loan will be repaid from the sale of the property, sale of the collateral, refinancing, or the Sponsor's operating revenues.