Lennuvälja tee 29, Külitse, Kambja vald (II)
Semi-detached house near Tartu, Estonia
- Start of investment period23.05.2022
- Start time04.05.2022 08:55
- Asset classResidential
- Investment typeDevelopment
- Investment end date30.04.2023
- Remaining term11 months
- Expected rate of return12% p.a.
- Expected cash yield%
- No of investors92
- Goal€49 300
Lennuvälja tee 29 twin-house development is our new project. Investors are offered an opportunity to finance the purchase of the property and the construction of a twin-house in the total amount of 284,000 euros. The amount to be raised in the current second round is 49,3000 euros. Subsequent rounds will be paid out on the basis of construction deeds.
The property is located approx. 10 km from Tartu city center. Tartu is the second largest city of Estonia. Schools, kindergartens and shops are located on the border of Tartu city and in Ülenurme and Tõrvandi centers approx. 6-7 km away.
The size of a twin-house apartment is 107.1 m2 and they have an identical layout. The planned sales price of one apartment is 210,000 euros.
Investors' loans are secured by a first-rank joint mortgage on Lennuvälja tee 29 and Lennuvälja tee 27 properties. The latter is a property with residential house offered as an additional security and it borders with the development property. Total market value of properties is 167,000 euros. Maximum LTV of the project is 78%.
Interest rate is 12% p.a. Interest is payable as a lump sum at the end of the period or on the sale of apartments. Investment period is up to 12 months.