Soseaua Bucuresti-Magurele 82W, Bucharest, Romania
135 apartments in Rahova, Bucharest, district 5
- Start of investment period11.03.2022
- Start time24.12.2021 08:00
- Asset classResidential
- Investment typeDevelopment
- Investment end date31.07.2023
- Remaining term12 months
- Expected rate of return13.8% p.a.
- Expected cash yield%
- No of investors663
- Goal€500 000
The goal for this opportunity is to finance the construction of 5 apartment buildings, with a total of 135 apartments, developed on a land of 5,278 sqm, situated at 82W Bucuresti-Magurele road, Bucharest, District 5, 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 - https://blog.crowdestate.eu/en/2020/secured-loan-definition/) in a total amount of EUR 3,200,000, arranged in ~10 tranches, based on the progression of works and the presales. This is the 1st tranche in the amount of EUR 500,000, with a minimum goal of EUR 350,000.
The source of reimbursement will be the sale of the units when finalized.
The investment tenor for this tranche is up to 18 months. The interest rate is 13,8% p.a. and it will be paid in quarterly installments. The loan will be secured with a 1st rank mortgage on the land and existing constructions, evaluated for EUR 1,103,700 (out of which the land is EUR 627,000 and existing constructions EUR 476,700). Therefore, the maximum LTV for the 1st tranche is 45%.