Published
  • Deadline
    29.09.2022
  • Start of investment period
    01.01.1970
  • Start time
    07.09.2022 09:30
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    10.11.2023
  • Remaining term
    13 months
  • Expected rate of return
    12% p.a.
  • Expected cash yield
    %
  • No of investors
    197
  • Goal
    €400 000

Executive summary

Our new project offers an opportunity to fund the purchase and reconstruction of Õitse St. 42 property in Tallinn, Pääsküla district. The project owner is planning to renovate a historical and unique Schneider Villa and rent it out as a residential space. The art nouveau Schneider Villa is located in Tallinn Nõmme district Pääsküla urban region. It is a quiet area of mostly private houses 11 km (or 20 minutes by car) from Tallinn city center. 

In the ongoing first funding campaign, investors grant a loan in the amount of 400,000 euros for the purchase of Õitse St. 42 property. In the following campaigns, investors will finance the construction in a total amount of 430,000 euros. Loans will be secured by a 1st mortgage on Õitse St. 42 property

There is 576.2 m2 of net area on five floors. The size of the plot is 4282 m2. The construction permit for the reconstruction of the building has been issued. 

Loan interest is fixed 12% p.a. and the interest is payable as a lump sum in 12 months from the loan disbursement. The loan period is up to 14 months, with an extension opportunity of 4 months. 

Market value of the property is 665,000 euros and the LTV of the project after the current campaign is 60%. 

Loans will be repaid by refinancing with a long-term bank loan when the building is ready and the permit of use has been issued, or in the case of selling apartments separately one by one.

Crowdestate

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