Alppikylänkatu 21, Helsinki (IV)

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. Loan amount raised in first three rounds was 120,000 euros.  Amount to be raised in the current third round is 132,000 euros, which corresponds to construction works performed during December 1, 2022 - February 22, 2023.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 10 months  + 3 months extension option.

Interest rate is 13% 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 14.5% p.a.

Loans are secured by a 1st mortgage on Alppikylänkatu 21 buildig right (maavuokra). Mortgage has been registered in the name of the mortgagee - Crowdestate Collateral Agent. Market value of the property was 680,000 euros at the start of the funding. Cost based LTV of the project is 31% after the current round and will be up to 73% during the project.