- Start of investment period17.11.2022
- Start time07.11.2022 13:00
- Asset classResidential
- Investment typeDevelopment
- Investment end date31.10.2023
- Remaining term10 months
- Expected rate of return12% p.a.
- Expected cash yield%
- No of investors189
- Goal€48 000
Our new investment project offers an opportunity to grant a mortgage loan in the amount of 48,000 euros secured by a land plot near Tartu city. The project owner intends to finance his other developments and offers a 2.46 ha property in Pihva village, Tartu as a collateral. Market value of the property is 96,000 euros and LTV is 50%.
Tartu is the second-largest city in Estonia. In 2021, the population of the city was 91,407 inhabitants. It is 186 km southeast of Tallinn and 245 km northeast of Riga, Latvia. The property (collateral) is located 3-4 km from Tartu city border and Lõunakeskus the biggest shopping center of South-Estonia.
According to the valid general plan, the future intended use of the Krollenurme property is residential land. Detailed planning of the property has been initiated and the property will be divided into five residential land plots.
Loan interest rate is 12% p.a. and the loan period is up to 12 months. Interest is paid as a lump sum at the end of the period.
The loan is secured by a 1st mortgage on the Krollenurme property, Pihva village, Tartu city.
The loan will be repaid from the sales revenue of the project owner's other projects or by refinancing.