Funded
  • Deadline
    31.08.2020
  • Start of investment period
    25.08.2020
  • Start time
    21.08.2020 10:00
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    31.08.2021
  • Remaining term
    10 months
  • Expected rate of return
    11% p.a.
  • Expected cash yield
    %
  • No of investors
    509
  • Goal
    €230 000

Executive summary

The purpose of current investment opportunity is to finance construction of terraced house project with 12 apartments in 3 separate buildings at Paevälja Road 6, Paevälja Road 8 and Paevälja Road 10, Viimsi, Estonia. 

The amount of this funding round is EUR 230,000. Crowdestate’ investors have previously invested in this project in the amount of EUR 1,558,400. 

The source of loan repayment is sales of completed apartments.

As we publish this project, the construction, according to the valuation document is 85% completed and  apartments are sold. To return the loan principal and pay out interest, Sponsor has to sell 9 apartments.

The investment earns a fixed interest rate at 11% p.a. and the loan term is scheduled up to 12 months

The loan is secured by a 1st rank mortgage on 11 apartments of Paevälja Road 6, Paevälja Road 8 and Paevälja Road 10 properties. One of the apartments is mortgaged to local municipality to secure investments in infrastructure related to Paevälja Road development.

The value of the collateral is EUR 2,47 million. Accordingly, the ratio of total amount of liabilities and collateral value (LTV) is 80%.

Crowdestate

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