Peterburi tee 19/21, 11415 Tallinn (II)
Secured bridge loan
- Start of investment period19.07.2019
- Start time12.07.2019 08:45
- Asset classResidential
- Investment typeSpeculative
- Investment end date14.07.2020
- Remaining termOverdue 90+ days
- Expected rate of return16% p.a.
- Expected cash yield%
- No of investors1129
- Goal€375 000
Our next investment opportunity includes funding of refinancing current liabilities of the Sponsor, Vakning OÜ. Vakning OÜ is an investment project company, holding a share of development project in Tallinn, Peterburi Road 15/17/19/21/21a. Current liabilities originate from financing acquisition of shares of Peterburi Road development.
For refinancing current liabilities, the Sponsor seeks for funding in the amount of EUR 375,000, which will be used as a bridge loan for returning previous loan by Crowdestate investors. The bridge financing is needed for the period of concluding a bond issue and for the sales period of shares of Vakning OÜ.
The underlying asset of the project are financial claims based on sales transactions of development property located at Peterburi tee 15/17/19/21/21a, Tallinn, Estonia, of which 20% is owned by Sponsor through its participation in OÜ San Miguel.
The loan is secured by the pledge of shares of Vakning OÜ in the amount of EUR 400,000. In addition, the loan is secured by the amount of claims guaranteed by Rolegur OÜ and by the sponsor's personal guarantee in the amount of 250,000 euros.
The interest rate offered by the Sponsor is 16% on an annual basis. Interest payments are made quarterly. The loan period is up to 12 months.
The internal rate of return for the project is 16.93%.