Lennuvälja tee 29, Kambja vald, Tartumaa

In May 2022, investors financed the acquisition of Lennuvälja tee 29 property and the release of capital against an additional mortgage in the total amount of 95,000 euros. To date, Lennuvälja tee 29 twin-house building permit has been issued, and the project owner intends to refinance the previous loan and receive an additional 25,000 euros to start construction. Therefore, the amount to be raised in the current round is 120,000 euros. The total construction cost of the twin-house is 200,000 euros, and investors' loans will be up to 284,000 euros. Funding of subsequent rounds will be based on 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 105.8 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 10 months.