Pumpuru iela, Jūrmala (III)
Mortgage backed 12 month loan
- Start of investment period01.01.1970
- Start time09.06.2021 12:05
- Asset classResidential
- Investment typeDevelopment
- Investment end date11.06.2022
- Remaining term11 months
- Expected rate of return14% p.a.
- Expected cash yield%
- No of investors171
- Goal€40 000
This investment opportunity is a secured development loan for a real estate development project, located at Pumpuru iela 3A, Jūrmala, Latvia.
The Sponsor of this opportunity aims to raise EUR 507,000 in total, arranged in several. The goal of this third and closing tranche is EUR 40 000.
The purpose of this loan is to finance the acquisition of the above-mentioned development property and to fund the first stage of the development (redesign of an existing project, construction permit).
The land plot is free of buildings. According to local zoning, it is allowed to build an apartment house up to 21 apartments on the property.
The fixed interest rate for this funding round is 14% per annum.
There are no periodical payments. The loan will be returned and accrued interest will be paid from sales of the property or from refinancing.
The loan period is 12 months.
The loan will be secured by 2nd rank mortgage on the Pumpuru iela 3A property. The value of this 4,594 m2 land plot according to the valuation document is EUR 811,000.
Total LTV (loan to value ratio) is 62,5%.