Funded
  • Deadline
    23.09.2022
  • Start of investment period
    23.09.2022
  • Start time
    03.09.2022 12:00
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    24.03.2023
  • Remaining term
    6 months
  • Expected rate of return
    12% p.a.
  • Expected cash yield
    %
  • No of investors
    174
  • Goal
    €80 000

Executive summary

With this investment opportunity, the Crowdestate investors have the opportunity of investing in a real estate secured mortgage bridge loan in the amount of 80,000 Euros.

The purpose of the loan is to provide the additional capital for the construction works in the real estate property located in Rua da Estrada Principal (EN306) - Lote 1C, 4485-176 Gião, Vila do Conde, Portugal.

The purpose of the loan is to provide capital for constructing one individual house in Gião, Vila do Conde, Portugal.

The house was sold in the pre-sale stage.

To secure this loan of 80,000 Euros, the Project Owner is offering the first-rank mortgage over 3 other real estate projects named Sazes da Beira, São Romão, and Valezim 2, all located in Seia, Portugal. All 3 developments have an architecture project under licensing at Seia City Hall. According to the attached appraisals, the estimated market value of the 3 real estate collateral is 129,700 Euros. Therefore, considering the 1st rank mortgage of 80 000 Euros proportionally spread over the 3 collateral projects, if Crowdestate investors fund the total amount, we reach an LTV of 62%.

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

The loan period is 6 months, with the Project Owner’s right to extend the loan period by 3 months with the obligation to increase the interest rate by 2% for the extended period.

The principal and interest payments will be made at the end of the loan period.

The loan will be repaid with the bank loan obtained by the end client of the target project.

The first rank mortgage over the 3 other real estate projects named São Romão, Sazes da Beira and Valezim 2, all located in Seia, Portugal, will be established under the Crowdestate name.

Crowdestate

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