Mortgage backed 12 month loan
- Start of investment period06.05.2021
- Start time03.05.2021 11:00
- Asset classHealthcare
- Investment typeDevelopment
- Investment end date10.05.2022
- Remaining term11 months
- Expected rate of return9.5% p.a.
- Expected cash yield%
- No of investors147
- Goal€40 000
This investment opportunity is a secured development loan for a real estate development project, located at Jelgavas street 24 in Riga, Latvia.
The Sponsor of this opportunity aims to raise approximately EUR 110,000 in total. The goal of this first tranche is EUR 40,000. The purpose of this loan is to partly finance the acquisition of the above-mentioned development property.
The loan will be secured by 1st rank mortgage on two real estate properties in Priekuli parish. The total value of the properties with a total building area of 6,384.7 m2 is EUR 230,000 according to the valuation document.
The LTV (loan to value ratio) for this first financing round is 17%.
The fixed interest rate for this funding round is 9,5% per annum. There are no periodical payments. The loan will be returned and accrued interest will be paid from sales of the Jelgavas property or from refinancing. The loan period is 12 months.