• Deadline
  • Start of investment period
  • Start time
    16.03.2023 09:30
  • Asset class
  • Investment type
  • Investment end date
  • Remaining term
    4 months
  • Expected rate of return
    14% p.a.
  • Expected cash yield
  • No of investors
  • Goal
    €70 000

Executive summary

This real estate investment project is a development project of a beautiful 9 rowhouse apartments in one of the most active real estate micro-markets in Latvia, which is Mārupe. All 9 units are already presold. The Sponsor has designed almost zero energy homes that classify as energy class A++. Units are designed according to the most advanced passive house standards and will be equipped with solar batteries, collectors, and smart home functions.

With this project, the Sponsor aims to raise funds for the development of 9 row house units with a gross building area of 1,225 m2 plus partially roofed terraces and closed car parking places plus sheds with a total area of 679 m2.

The goal of this tranche is 70,000 Euros. The loan will earn 14% p.a. and will be secured by a 1st rank mortgage on the development land plot. Crowdestate investors will have the possibility to fund a total loan amount of 1.4 million Euros in several tranches. The estimated total costs of the project are 2.3 million Euros and the projected base scenario revenues of the project are 2.6 million Euros.

The principal and interest payment will be done as a bullet payment at the end of the 4-month loan or earlier following the sales of the newly built row house units.

The total value of the project is currently ca. EUR 1,76 million: land value EUR 252 000 EUR to which we add the value of completed construction works in amount of ca. EUR 1,51 million. Thus the LTV for the loan is 75%. At the end of February 2023, the completion rate of the development was 85%.


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