Funded
  • Deadline
    19.02.2021
  • Start of investment period
    01.07.2021
  • Start time
    10.02.2021 12:00
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    28.02.2023
  • Remaining term
    17 months
  • Expected rate of return
    16% p.a.
  • Expected cash yield
    %
  • No of investors
    516
  • Goal
    €250 000

Executive summary

The goal for this opportunity is to finance the construction of an apartment building, with 110 apartments, situated at 103A, Timisoara Blvd., Bucharest, district 6, Romania. This will be Phase 2 of a larger 230 apartment development on a land of 5,000 sqm. Phase 1 including 69 apartments was completed and sold completely in 2019.

Crowdestate investors will have the opportunity to invest in a mortgaged secured senior construction loan in a total amount of up to EUR 3,000,000, arranged in 6-12 tranches, based on the progression of works and the presales. This is the 1st tranche of the investment opportunity for EUR 250,000.

The source of reimbursement will be the sale of the units when finalized.

The investment tenor for this tranche is up to 24 months. The interest rate is 16% p.a. and it will be paid in semiannual instalments of 8% p.a. interest, with the remaining difference at the end of the loan period or at principal reimbursement, whichever comes first. The loan will be secured with a 1st rank mortgage on the land and future buildings. The land & existing structure (underground) at this moment has been evaluated for EUR 1.3 million by Colliers International, using the residual income method.

Crowdestate

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