Mortgage - backed 12- month loan
- Start of investment period08.06.2021
- Start time28.05.2021 08:45
- Asset classResidential
- Investment typeDevelopment
- Investment end date04.06.2022
- Remaining term10 months
- Expected rate of return10% p.a.
- Expected cash yield%
- No of investors236
- Goal€50 000
With this project, the Sponsor aims to raise funds to start the development process of a 33,5 ha land plot with the aim of creating a residential village. The goal of this tranche is 50 000 Euros. The loan is raised for the purposes of partly refinancing existing liabilities and the next tranches will attract funds needed for development stages.
The loan will be secured by a 1st rank mortgage with a total area of 33,5 ha with an estimated market value of 361 000 Euros. Property is located 20 km from Riga city centre in are that is known for small, quiet residential villages mainly selected as the place of residence by families who work in Riga but prefer to live outside the city in peaceful, green locations with quick access to recreational areas like a lake, river, forest, jogging - cycling tracks etc.
Since the recent real estate value estimation document states that the real estate value of the pledged property is 361 000 Euros, it gives Crowdestate investors of this tranche a position with an LTV ratio of 14%.
This is a short-term investment opportunity. The principal and interest payment will be done as a bullet payment at the end of the 12-month loan period.