Funded
  • Deadline
    21.11.2022
  • Start of investment period
    16.11.2022
  • Start time
    16.11.2022 10:45
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    31.10.2023
  • Remaining term
    10 months
  • Expected rate of return
    13.5% p.a.
  • Expected cash yield
    %
  • No of investors
    128
  • Goal
    €20 300

Executive summary

Our new project offers an opportunity to grant a mortgage secured loan to the project owner (Estonian company Memorest OÜ) for the construction of a single-family house at Mõisaküla St. 16, Kiili municipality. Total amount to be raised will be 190,000 euros and amount to be raised in the current second round is 20,300 euros. Next round fundings will be based on construction deeds.

Mõisaküla St. 16 property is located in Kiili municipality, ~17 km from Tallinn city center (25 minutes by car).

Construction is underway: foundation with utility connections and exterior stone block walls have been built and roof structure is to be installed in coming days. Construction complition is approx. 30% and construction deadline is March-April 2023.  

The loan will be secured by a first mortgage on Mõisaküla St. 16 property. LTV of the project is after the first round will be 57% and it will be less than 70% during the whole project. 

Current market value of the property is 175,000 euros. The loan will be repaid from the sales revenue of Mõisaküla St. 16 property after the construction will be completed. Estimated future value of the house, when the construction work is completed, is 363,000 euros.

Loan interest rate is 13.5% p.a. and the investment period is up to 12 months. Interest and loan principal will be paid at the end of the loan period or by signing Mõisaküla St. 16 property sales contract.

Crowdestate

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