Funded
  • Deadline
    18.05.2022
  • Start of investment period
    20.05.2022
  • Start time
    10.05.2022 11:40
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    31.12.2022
  • Remaining term
    7 months
  • Expected rate of return
    12% p.a.
  • Expected cash yield
    %
  • No of investors
    91
  • Goal
    €51 400

Executive summary

This investment opportunity is a development project of a 15-row house compact village in one of the most active real estate micro-markets in Latvia - Mārupe. The sponsor has designed a village of 15-row houses and with this project, Sponsor aims to raise funds for the development process of the 15-row house units with a gross building area of 2767,33 m2 and an average unit size of 184 m2 (including terrace and roofed parking place). The construction is in progress and in the attached images of the current progress of construction works can be viewed (construction of walls from aerated concrete blocks is completed, windows are installed, the construction team is starting work on the facades and internal construction works), the completed construction works value now exceeds 1 050 000 EUR, which means that the joint LTV ratio of the four tranches will be 33%. 

The goal of this tranche is 51 400 Euros. The loan will be secured by a 1st rank mortgage on the development land plot. Crowdestate investors will have the possibility to fund a total loan amount of up to 700 000 Euros in several tranches during the construction period from which 298 000 EUR have been financed in previous tranches. The estimated total costs of the project are 1,88 million Euros and the projected base scenario revenues of the project are 3,1 million Euros. Almost all units currently are presold, 13 from 15 have reservation agreements.
The principal and interest payment will be done as a bullet payment at the end of the 7-month loan or earlier following the sales of the newly built row house units.

Crowdestate

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