Funded
  • Deadline
    30.11.2021
  • Start of investment period
    24.11.2021
  • Start time
    15.11.2021 08:00
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    30.11.2022
  • Remaining term
    12 months
  • Expected rate of return
    8.8% p.a.
  • Expected cash yield
    %
  • No of investors
    233
  • Goal
    €120 000

Executive summary

Crowdestate investors have financed the acquisition of Oksa St. 6a property. The Sponsor is currently applying for a new 12-month loan to refinance the earlier loan in amount of EUR 110,000 and release equity in amount of EUR 10,000. Thus, with the current campaign the Sponsor intends to raise EUR 120,000

The loan is secured by the existing first-rank mortgage. Fixed interest rate is 8.5% p.a. and interest payments are on a monthly basis (expected internal rate (IRR) is 8.8%). According to the appraisal report, the market value of the collateral is EUR 197,000 and loan-to-value ratio (LTV) is 61%.

The project sponsor (Oksa Arendus OÜ) is planning to build a 3-storey small apartment building on Oksa St. 6a property in Kristiine district, Tallinn. There will be 5 apartments and 3 non-residential premises.

In August 2021, a building permit was issued for the property. The Sponsor plans to sell Oksa 6a property in case of a reasonable offer in order to focus on other development projects. 

Crowdestate

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