Funded
  • Deadline
    20.06.2022
  • Start of investment period
    21.06.2022
  • Start time
    14.06.2022 10:30
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    17.04.2023
  • Remaining term
    9 months
  • Expected rate of return
    13% p.a.
  • Expected cash yield
    %
  • No of investors
    78
  • Goal
    €30 000

Executive summary

This real estate investment project is a development project of a beautiful 9 rowhouses in one of the most active real estate micro-markets in Latvia, which is Mārupe. 7 of the 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 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 tranche is 30,000 Euros. The loan will earn 13% 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 10-month loan or earlier following the sales of the newly built row house units.

The land value of 252 000 EUR and completed construction works in value of 616 637 EUR give the current LTV ratio of 57%. The funds raised in this tranche will be released in parts following construction documentation approved by an independent construction supervisor so that the LTV ratio does not exceed 60%.

Crowdestate

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