Published
  • Deadline
    12.12.2022
  • Start of investment period
    01.01.1970
  • Start time
    10.11.2022 08:10
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    13.12.2023
  • Remaining term
    12 months
  • Expected rate of return
    12% p.a.
  • Expected cash yield
    %
  • No of investors
    163
  • Goal
    €65 000

Executive summary

Rua de Currais, Avessadas in Marco de Canaveses municipality is our new project from Portugal.

Investors are offered an opportunity to finance 65 000 Euros for the renovation of a property in Rua de Currais, Avessadas, Marco de Canaveses, by one of the Tâmega’s riverside, including 2 private houses with a total of 279,20 m2 and the agricultural land with 6,9ha over the next 12 months.

To secure this loan of 65 000 Euros, the Project Owner is offering the first rank mortgage on a different property located at Estrada da Barragem near the Torrão Dam, in Alpendorada e Matos, Marco de Canaveses, a plot of land with 40.966 m2 with a residential construction capacity of 300 m2 in accordance with the zoning in place.

According to the attached appraisal, the estimated market value of this real estate collateral is 145 000 Euros. Therefore, considering this 1st rank mortgage of 65 000 Euros, if Crowdestate investors fund the total amount, we reach an LTV of 45%.

The interest rate of this tranche is 12% per annum.

The loan period is 12 months, with a Project Owner’s option to extend the loan period by 3 months with the obligation to increase the interest rate by 2% for the extended period.

The interests and principal payment will be made at the end of the loan term. 

The loan will be repaid from the sale of the property, sale of the collateral, refinancing, or the Project Owner’s operating revenues.

Crowdestate

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