Published
  • Deadline
    20.02.2023
  • Start of investment period
    01.01.1970
  • Start time
    24.01.2023 13:40
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    22.11.2023
  • Remaining term
    9 months
  • Expected rate of return
    13% p.a.
  • Expected cash yield
    %
  • No of investors
    188
  • Goal
    €252 500

Executive summary

The goal for this opportunity is to finance the acquisition of a project approved to develop 6 individual family houses on land with 4 021 sqm to be divided into 6 plots, situated at Travessa da Igreja, Aveleda, Vila do Conde, Portugal.

Crowdestate investors can invest in a mortgaged secured loan in a total amount of 252 500 Euros, arranged in a single tranche.

The source of reimbursement will be the sale of the plots with the turnkey construction contract.

All of the plots are under a pre-sale agreement. The houses are expected to be delivered until July 2024.

The investment tenure for this loan is up to 9 months. The interest rate is 13% p.a., and it will be paid monthly.

The Sponsor has the option to extend the loan period by 3 months with the obligation to increase the interest rate by 2% for the extended period.

The interest amounts to be paid monthly will be deducted from the raised value and held in an escrow account during the 9 months.

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

The loan will be secured with a 1st rank mortgage on the land and future buildings. The land has been evaluated for 402 000 Euros, as per the attached appraisal.

The LTV for this opportunity is 67% because we are considering the market value of the collateral, the purchase price of 380 000 Euros.

The withholding tax rate for all projects based in Portugal is 10% for all investors.

Crowdestate

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