27 Lebedei str., Avantgarden3, B62, Brasov (II)
Senior construction loan
- Start of investment period28.01.2020
- Start time17.01.2020 13:00
- Asset classResidential
- Investment typeDevelopment
- Investment end date16.02.2021
- Remaining termOverdue 90+ days
- Expected rate of return14.7% p.a.
- Expected cash yield%
- No of investors1061
- Goal€500 000
The goal for this opportunity is to finance the completion of an apartment building with 73 apartments, located at Lebedei 27, Avantgarden3, B62, Brasov. The building is part of Phase 4 of the Avantgarden3 development; a large scale development project by Maurer Imobiliare SA, one of the leading developers in Romania.
The objective of this current funding round is to raise EUR 500,000, the second and the final tranche for the completion of the apartment building. The first tranche loan was EUR 620,000.
The funds will be used to finance the construction costs until the finalization of the building. Construction is now approx. 70% completed. 72 out of the 73 apartments are already sold with a significant amount prepaid — Sponsor has collected already 50% of total sales revenues as prepayments.
The investment term for this current funding round is up to 10 months. The fixed interest rate for this opportunity is 13.80% annually and the expected rate of return is 14.7% per annum. The Sponsor will make monthly interest payments.
This second round will be secured by 2nd rank mortgage on the property under development (the 1st rank mortgage is in favor of the first tranche loan).