Exited
  • Deadline
    05.02.2020
  • Start of investment period
    29.01.2020
  • Start time
    23.01.2020 08:30
  • Asset class
    Healthcare
  • Investment type
    Development
  • Investment end date
    27.07.2020
  • Remaining term
    Overdue 90+ days
  • Expected rate of return
    11.55% p.a.
  • Expected cash yield
    %
  • No of investors
    554
  • Goal
    €250 000

Executive summary

Our new campaign offers an opportunity to fund the construction of the first special care “village” in Estonia, “Liikva Päikeseküla” (Liikva Sun Village). When completed the special village will provide living, working and therapy opportunities for people with autism spectrum disorder. The village will be established approximately 20 km from Tallinn in Harku municipality. 

The project will include the construction of three family houses (30 rooms in total) and a therapy house (total 1600 m2 gross buildable area). According to the contract construction cost is EUR 2.76 million + VAT. Construction has started and the deadline is in October 2020.

The project Sponsor SA Liikva Päikesekodu (Foundation Liikva Päikesekodu) has received a grant from the European Regional Development Fund (ERDF) in the amount of EUR 1,020,000

Crowdestate investors are offered the opportunity to grant a mortgage secured loan in current first investment round in amount of EUR 250,000. After that EUR 1.74 million construction financing will be raised in subsequent rounds. First rank joint mortgage will be established upon a private house at Kajaka Street 12d in Tallinn with a market value of EUR 388,000, upon Suure-Pärna 7.07 ha property and the right of superficies upon Suure-Pärna 7.07 ha property in Harku municipality. 

Investment period is 18 months (until June 30th, 2021), with an interest rate of 11% p.a. (12% after a 6-month extension) and internal rate of return (IRR) of a loan with monthly interest payments is 11.55%

Crowdestate investors’ loan will be refinanced with a bank loan after Liikva Päikeseküla has shown operating cash flow. An additional source of refund is proceeds from the sale of shares to those who enter the service. 

Liikva Päikeseküla will provide following special care services: daily and weekly care for 30 people, daily care for 10 people and therapy services. The opening of the village is planned for the beginning of 2021.

Crowdestate

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