Exited
  • Deadline
    20.11.2020
  • Start of investment period
    10.11.2020
  • Start time
    06.11.2020 12:10
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    05.01.2021
  • Remaining term
    Overdue 1-90 days
  • Expected rate of return
    10% p.a.
  • Expected cash yield
    %
  • No of investors
    221
  • Goal
    €75 000

Executive summary

Crowdestate investors have financed in previous two rounds (EUR 175,000) the construction of Kesalille St. 7, 9 and 11 dwelling houses in Veskimöldre 2 residential area close to Tallinn city border.  With the current third campaign, the Sponsor intends to raise EUR 75,000. The Sponsor builds three single-family houses at the same time, each with an effective living area of approx. 140 m2

Construction work is in progress: foundations of three houses have been completed, geothermal heating has been built and pre-fabricated house details (walls and roof) has been installed (see pictures as at November 5th, 2020). Total construction cost to be financed by Crowdestate investors' would be EUR 300 000, which is VAT excluded construction cost of the three houses (i.e. EUR 700 per m2 of living area).  

Investors' loans are secured by a first-rank mortgage on three properties. Interest rate of a loan with monthly payments is 9.5% (IRR 10%) and investment period is up to 10 months. During construction, estimated loan-to-value (LTV) ratio is up to 57% and LTV will be 34% when house completed.

The loan will be repaid from the sale of Kesalille St. 7, 9 and 11 houses. The construction is planned to be completed by December 1, 2020. The sales price of one house is EUR 300,000.

Crowdestate's investors have financed several Sponsor's developments (Veskioja St. 1 and Metsapargi St. 4 terraced-houses and Viirpuu St. semi-detached house), which have been successful and the loans have been repaid earlier than expected. Sponsor has outstanding loan (EUR 150,000) to fund private house construction in Laagri small town at Tervise St. 11 and loan (EUR 230,000) secured by Metsapargi St. 4 terraced-house apartments for the release of equity for the sales period of aforementioned apartments.

Crowdestate

Site is down for maintenance, please check back in 15 minutes