Mārupe, Ozolkalnu iela 12 (III)
Development project of 6-row house units
- Start of investment period01.01.1970
- Start time05.08.2022 08:30
- Asset classResidential
- Investment typeDevelopment
- Investment end date12.08.2023
- Remaining term11 months
- Expected rate of return11% p.a.
- Expected cash yield%
- No of investors112
- Goal€70 000
This investment opportunity is a development project of 3-row houses in one of the most active real estate micro-markets in Latvia - Mārupe. The sponsor of this project CMB Housing Solutions, has successfully developed several similar projects in Mārupe and has a proven track record. The sponsor aims to raise funds to start the construction of the first two of the planned 6-row house units.
The goal of this tranche is 70 000 Euros and will increase the current loan amount to 230 000 EUR. The loan will be secured by a 1st rank mortgage on 4 development land plots with a current market value of 271 000 EUR plus 131 000 EUR value of completed construction works which means that the current LTV position is 39%, and with this tranche will rise till 59%.
The principal and interest payment will be made as a bullet payment at the end of the loan term following the sales of the newly built twin house units.