Exited
  • Deadline
    18.12.2020
  • Start of investment period
    10.12.2020
  • Start time
    08.12.2020 12:15
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    05.01.2021
  • Remaining term
    Overdue 90+ days
  • Expected rate of return
    10% p.a.
  • Expected cash yield
    %
  • No of investors
    159
  • Goal
    €50 000

Executive summary

Crowdestate investors have financed in previous three rounds (EUR 250,000) the construction of Kesalille St. 7, 9 and 11 dwelling houses in Veskimöldre 2 residential area close to Tallinn city border.  With the current fourth campaign, the Sponsor intends to raise EUR 50,000. The Sponsor builds three single-family houses at the same time, each with an effective living area of approx. 140 m2

The Sponsor has entered into a notarized contract under the law of obligations for the sale of one house and reservation agreements have been concluded for two houses!

On the outside all three houses have been built and interior work is underway  (see pictures as at December 7th, 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 9 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 20, 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

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