• Deadline
  • Start of investment period
  • Start time
    16.06.2022 05:45
  • Asset class
  • Investment type
  • Investment end date
  • Remaining term
    7 months
  • Expected rate of return
    14% p.a.
  • Expected cash yield
  • No of investors
  • Goal
    €50 000

Executive summary

The goal for this opportunity is to finance the construction of 4 houses (2 duplexes) on a total land of 1212 sqm, situated at 39 Privighetorilor street, Balotesti, Ilfov county, Romania. 

Crowdestate investors will have the opportunity to invest in a mortgaged secured senior construction loan (for more information regarding senior debt, please check out this blog post - in a total amount of EUR 320,000, arranged in 7 tranches, based on the progression of works and the presales. The 1st tranche of EUR 40,000 was raised in March-April 2022. This will be the 2nd tranche of the investment opportunity in the amount of EUR 50,000. 

The source of reimbursement will be the pre-sales collected from their clients or the sale of the houses when finalized. At this moment, 1  house out of the total 4 houses is pre-contracted. The houses are expected to be delivered until March 2023. The second possible source of reimbursement can be refinancing from one of the banks operating in Romania.  

The investment tenor for this tranche is up to 16 months. The interest rate is 14% p.a. and it will be paid in quarterly instalments. The loan will be secured with a 2nd rank mortgage on the land and future buildings. The land has been evaluated for EUR 79,000 by Neoval Consulting. Other investments related to project such as: authorisation & other soft costs in the amount of ~EUR 19,000 plus acquisition of metallic structures for the first 2 houses in the amount of ~EUR 100,000 were made from Sponsor’s own equity. Thus,  the LTV after the 2nd tranche will be ~45%.


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