Exited
  • Deadline
    19.02.2021
  • Start of investment period
    08.02.2021
  • Start time
    08.02.2021 07:00
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    20.04.2021
  • Remaining term
    Overdue 1-90 days
  • Expected rate of return
    10% p.a.
  • Expected cash yield
    %
  • No of investors
    292
  • Goal
    €100 000

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 100,000. Crowdestate’ investors have previously invested in this project in the amount of EUR 1,9 million. 

The source of loan repayment is sales of completed apartments.

As we publish this project, 8 apartments out of 12 are already completed and commissioned. 3 out of remaining 4 apartments are sold. Remaining 4 apartments are 95% complete.

To return the loan principal and pay out interest, Sponsor has to finish and commission 2 apartments.

The investment earns a fixed interest rate at 10% p.a. and the loan term is scheduled up to 7 months. 

The loan is secured by a 1st rank mortgage on 3 apartments and by 2nd rank mortgage on 1 apartment. One of the apartments is mortgaged to the local municipality to secure investments in infrastructure related to Paevälja Road development.

The value of the collateral is EUR 825,000. The ratio of total amount of liabilities and collateral value (LTV) is 49%. As additional security, the board member of the Sponsor has agreed to offer personal suretyship in the amount of EUR 100,000.

Crowdestate

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