Mailisu iela (II)
Mortgage backed 12 month loan
- Start of investment period04.08.2021
- Start time07.07.2021 13:00
- Asset classResidential
- Investment typeDevelopment
- Investment end date15.07.2022
- Remaining term8 months
- Expected rate of return11.2% p.a.
- Expected cash yield%
- No of investors370
- Goal€376 600
With this project the Sponsor aims to raise funds to start the development process of a multi-apartment building complex on a waterfront (lakeside) area of 17,835 m2. The goal of this tranche is 376 600 Euros. The loan is raised for the purposes of partly financing purchase of the land and next tranches will attract funds needed for development stages.
The loan will be secured by a 1st rank mortgage, estimated market value of collateral is 1 025 000 Euros. The property is located near the Mežaparks urban forest in Riga, in a block between Mailīšu street and and Lake Ķīšezers. One side of the property is adjacent to Lake Ķīšezers, enabling unobstructed access to the lake, and creating conditions for setting up recreational infrastructure (boat pier, exercise and fitness equipment).
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.