Funded
  • Deadline
    27.01.2023
  • Start of investment period
    30.01.2023
  • Start time
    09.01.2023 16:00
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    31.12.2023
  • Remaining term
    10 months
  • Expected rate of return
    12% p.a.
  • Expected cash yield
    %
  • No of investors
    89
  • Goal
    €71 000

Executive summary

We bring you a new investment opportunity in Finland Helsinki Alppikylänkatu St. 21. The project owner has started the construction of the apartment house and intends to finance further construction with a loan in total amount of 1,350,000 euros secured by 1st mortgage. Amount to be raised in the current first round is 120,000 euros. Together with the sum raised in the first round the loan amount will be 120,000 euros. Further funding will be based on construction deeds. The loan will be repaid from the apartments' sales revenue. 

The project is located between Helsinki city center and Vantaa, approx. 15 km from Kalasatama (city center) or 25 minutes drive and 12 km from Vantaa airport.

It is a 10-apartment building with a total sellable area of 467 m2. There will be eight 2-room apartments and two 3-room apartments. Estimated sales prices will be between 210,000 - 288,000 euros (4880 eur/m2 as an average).

Loan term is 12 months  + 3 months extension option.

Interest rate is 12% p.a. and it is payable as a lump sum at the end of the loan period or when apartment will be sold. Interest rate during the extension period will be 13.5% p.a.

Loans will be secured by a 1st mortgage on Alppikylänkatu 21 buildig right (maavuokra). Current market value of the property is 680,000 euros, LTV of the project is 18% after the first funding round and will be up to 70% during the project.

Crowdestate

Site is down for maintenance, please check back in 15 minutes