Funded
  • Deadline
    05.10.2021
  • Start of investment period
    21.10.2021
  • Start time
    27.09.2021 12:30
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    05.10.2022
  • Remaining term
    11 months
  • Expected rate of return
    10% p.a.
  • Expected cash yield
    %
  • No of investors
    359
  • Goal
    €125 000

Executive summary

Our next development project from Latvia is a beautiful 9 rowhouse development project in one of the most active real estate micro-markets in Latvia, which is Mārupe. The Sponsor has designed almost zero energy homes that classify for 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 processor  9 rowhouse development project with a gross building area of 1225 m2 plus partially roofed terraces& closed car parking places plus sheds with a total area of 679 m2.

The goal of this first tranche is 125 000 Euros. The loan 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 during an 8-month construction period. The estimated total costs of project are 2,3 million Euros and 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 12-month loan or earlier following the sales of the newly built row house units.

Crowdestate

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