Carrer Naranjo de Bulnes 8, Cambrils, Tarragona

We are glad to bring you our first project in Spain and offering an opportunity to grant a mortgage loan secured by a residential property at Tarragona, Cambrils, Carrer Naranjo de Bulnes, number 8. 

The project owner intends to release capital in the total amount of up to 320,000 euros. By releasing the capital the owner aims to strengthen the capital base of her Estonian companies (among other things, paying back Crowdestate investors’ Liikva loan). 

The property with a residential building is located in the north-eastern part of Spain in Tarragona province in a small coastal town Cambrils. Barcelona is located approx. 100 km away. Within a 20 km radius there are Tarragona city (135 000 inhabitants) and Reus city (105 000 inhabitants). There are about 35 000 inhabitants in Cambrils. 

The property is approx. 1,500 meters from the Mediterranean Sea and there is a 254 m² residential building. The building is rented out for short-term accommodation. 

Loan will be secured by a 1st mortgage on the property, the market value of which is 485,000 euros according to the attached valuation report. The property has been appraised by the leading real estate appraiser Tinsa. LTV of the project is 65%. 

Loan interest is 13% p.a. and interest is payable as a bullet at the end of the loan period. Loan period is 12 months, plus a one-time extension of up to 6 months. Interest rate is 15% p.a. during the extension period. 

Loan repayment source will be refinancing or income from the project owner’s other businesses.