Pending settlement
  • Deadline
    30.07.2021
  • Start of investment period
    01.01.1970
  • Start time
    19.07.2021 13:00
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    29.07.2022
  • Remaining term
    11 months
  • Expected rate of return
    13% p.a.
  • Expected cash yield
    %
  • No of investors
    429
  • Goal
    €271 400

Executive summary

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 271 400 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).

Since the recent real estate value estimation document states that the real estate value of the pledged property is 1 025 000 Euros, it gives Crowdestate investors a position with LTV ratio of 57%.

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.

Crowdestate

Site is down for maintenance, please check back in 15 minutes