Kaiju iela 12/14, Liepaja (V)
Mortgage backed 12 month loan
- Start of investment period08.04.2022
- Start time29.03.2022 09:40
- Asset classResidential
- Investment typeDevelopment
- Investment end date28.02.2023
- Remaining termOverdue 1-90 days
- Expected rate of return12% p.a.
- Expected cash yield%
- No of investors107
- Goal€27 500
This is the second real estate investment project on the Crowdestate crowdfunding platform from Liepaja city in Latvia. With this project, Sponsor aims to raise funds to complete a multi-apartment building development process. The building has a 972 m2 net saleable area. The goal of this final tranche is 27 500 Euros and the interest rate will be 12% p.a. The loan is raised for the purpose to complete the construction process and one of the strengths of this project is that the Sponsor’s equity is fully invested, renovation works are close to being finished and building commissioned so that sales deals of the apartments can be carried out and apartments handed over to buyers.
The loan will be secured by a 1st rank mortgage on the development project real estate. Real estate company Latio has estimated that after full completion of construction, the value and sales price of 1m2 would be 1125 EUR, which estimates projected revenues in the amount of at least 1 090 000 EUR.
This is a short-term investment opportunity. The principal and interest payment will be done as a bullet payment at the end of the 9-month loan period or earlier following the sales of the apartments. 4 apartments have reservation agreements, sale of 5 apartments provides a full exit for Crowdestate investors.