Funded
  • Deadline
    17.11.2020
  • Start of investment period
    16.11.2020
  • Start time
    03.11.2020 10:15
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    28.02.2022
  • Remaining term
    15 months
  • Expected rate of return
    10% p.a.
  • Expected cash yield
    %
  • No of investors
    343
  • Goal
    €150 000

Executive summary

Koru põik 5 row-house is the Sponsor's fourth house of the same type. Investors will be offered an opportunity to finance the construction of 6-apartment row-house in total amount of EUR 816,000. Amount of the first round is EUR 150,000. Construction has already started - earthworks and utility networks have been done. The construction deadline is December 2021. With each new funding round, the value of the underlying asset will increase until the row house is finished.

Loan is secured by a first rank mortgage, fixed interest rate is 9.5% p.a and interest is paid monthly. IRR of the project is 10%. Investment period is 16 months. 

Apartment sizes are 130 m2 (4 apartments) and 115 m2 (2 apartments). Prices are EUR 249,000 and EUR 224,000 respectively. Total project revenue is EUR 1.44 million (including VAT).

Koru poik 5 property is located in Veskimöldre-2 residential area - new and developing area between Nõmme Pääsküla, Laagri small town and Harku forest, about 20 minutes drive from the center of Tallinn. Crowdestate investors have financed Sponsor's similar row-house developments at Koru poik 1, 3 and 9. Sale of all previous projects has been succesfull and investors' loans returned. 

The Sponsor is building two row-houses at the same time (Koru põik 5 and 7) and Crowdestate investors are financing the construction of both houses in parallel.

Crowdestate

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