Koru põik 7 (V), Saue vald, Alliku küla
6-apartment row house near Tallinn, Estonia
- Start of investment period19.04.2021
- Start time08.04.2021 07:00
- Asset classResidential
- Investment typeDevelopment
- Investment end date28.09.2021
- Remaining termOverdue 1-90 days
- Expected rate of return10% p.a.
- Expected cash yield%
- No of investors306
- Goal€120 000
Koru põik 7 row-house is the Sponsor's fifth 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 fifth round is EUR 120,000. Construction is in progress - installation of house elements is done (first and second floor), roof has been installed and facade installation is underway. The construction deadline is October 2021. With each new funding round, the value of the underlying asset will increase until the row house is finished.
Three apartments have been pre-sold.
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 up to 10 months.
Apartment sizes are 130 m2 (4 apartments) and 115 m2 (2 apartments). Prices are EUR 265,000 and EUR 238,000 respectively.
Koru poik 7 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.