Exited
  • Deadline
    24.08.2020
  • Start of investment period
    19.08.2020
  • Start time
    12.08.2020 08:30
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    26.02.2021
  • Remaining term
    Overdue 90+ days
  • Expected rate of return
    10% p.a.
  • Expected cash yield
    %
  • No of investors
    598
  • Goal
    €230 000

Executive summary

We offer the investors an opportunity to lend against a 1st mortgage on two terraced house apartments at Metsapargi St. 4. The Sponsor has completed the construction of 10-apartment terraced house at Metsapargi St. 4 in Veskimöldre 2 residential area and is seeking to release capital for the sales period to buy new plots for development. This campaign aims to raise EUR 230,000. 5 out of 10 apartments have been sold. Crowdestate investors' loan will be secured by a 1st mortgage on two apartments, investment period is 12 months, fixed interest rate is 9.5% per year and IRR of a loan with monthly interest payments is 10%.

The market value of two apartments set as collateral is EUR 378,000 (incl. VAT). Loan to value (LTV) ratio is 61%. Apartments are with separate entrance, have 5 rooms and an outdoor area. The sizes of the apartments offered as collateral are 126 m2. Apartments are ready and the Sponsor is offering them for sale for EUR 189,000 each.

Crowdestate investors have previously funded the Sponsor's Veskioja St. 1 terraced house development at the same area. The project was successful, the investors' capital and interest were repaid earlier.

Crowdestate

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