Funded
  • Deadline
    17.08.2021
  • Start of investment period
    23.08.2021
  • Start time
    28.07.2021 08:30
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    31.03.2023
  • Remaining term
    17 months
  • Expected rate of return
    14% p.a.
  • Expected cash yield
    %
  • No of investors
    598
  • Goal
    €1 000 000

Executive summary

The goal for this opportunity is to finance the acquisition of a land plot, in a total amount of EUR 1,000,000. The loan will be structured as a mortgage secured loan. The land plot is located at 1A, Calea Fagarasului, Brasov, Brasov County, Romania. This land will be used for the development of a future residential project of ~380  apartments and a total of ~770 underground and aboveground parking space. The loan will be used as a bridge financing, until zoning & permitting is completed and construction financing secured. 

The main source of reimbursement will be the sale of other land plots situated in Brasov City and owned by the Sponsor (Tribeach group). Alternative sources of reimbursement can be:

- refinancing from one of the local banks operating in Romania;
- the sale of ongoing residential projects developed by the Sponsor (Tribeach group) in Poland (2 ongoing projects in Krakow) and the United States (1 project in New York).

The investment tenor for this tranche is up to 18 months. The interest rate is 14% p.a. and it will be paid in monthly instalments. The Sponsor undertakes to repay the principal of the loan before the end of the loan period. The loan will be secured with a 1st rank mortgage on the land. The land has been evaluated for EUR 3,183,200 by Colliers International, therefore the LTV for the 1st and only tranche is 32%.

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