Published
  • Deadline
    15.06.2022
  • Start of investment period
    01.01.1970
  • Start time
    28.04.2022 14:00
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    16.12.2023
  • Remaining term
    18 months
  • Expected rate of return
    12% p.a.
  • Expected cash yield
    %
  • No of investors
    232
  • Goal
    €160 000

Executive summary

The Sponsor offers an investment opportunity and grants a 160 000 Euros loan secured by a 1st rank mortgage on Travessa Figueira de Mato Real Estate land.

The Sponsor aims to raise a total of 1 600 000 Euros. The purpose of the loan is to provide capital for constructing 14 townhouses in Serzedo, Vila Nova de Gaia, Portugal.

All units were sold in the pre-sales stage.

To secure the 160 000 Euros loan, the Sponsor is offering the first-rank mortgage over this entire Real Estate project.

According to the attached appraisal, the estimated market value of this collateral is 406 000 Euros. Therefore, because 551 800 Euros were already collected from down payments, and the 1st rank mortgage of 1 600 000 Euros, if Crowdestate investors fund the total amount, we reach an LTV of 63%.

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

The loan period is 18 months, with a Sponsor's option to extend the loan period by 6 months with the obligation to increase the interest rate by 2% for the extended period.

The principal payment will be made at the end of the loan period.

The first 12 months' interest will be paid at the end of the first 12 months. The remaining 6 months' interests, and, in case of using the contract extension period, the interest relating to this period and the extension period will be paid at the end of the 6 months extension.

The loan will be repaid from the sale of the townhouses or the collateral property, refinancing, or the Sponsor's operating revenues.

The first rank mortgage over the Travessa Figueira de Mato, Serzedo property will be established under the Crowdestate name.

Crowdestate

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