Paevälja 16, Lubja küla, Viimsi (IV)

This investment opportunity is the fourth round of financing the construction of a private house on Paevälja tee 16 in the amount of 60,000 euros. After the current round the total loan amount will be 303,500 euros. The total credit risk for investors in the project will be 350,000 euros. 

Paevälja tee 16 single-family house is located in Lubja village, Viimsi municipality, in the immediate vicinity of Viimsi center. 20 minutes by car from the center of Tallinn. The construction of the building is nearing completion (completion approx. 90%) and the attached pictures show the construction as of 28.04.2022. Construction work will be completed in May / June 2022. 

The Sponsor has entered into a pre-sales contract of Paevälja tee 16 house (contract under the law of obligations)!

Residential area of thee house is 171,8 m². The market value of the completed house is estimated at 600,000 euros. The ratio of investors' loans to the final value of the property (LTV) would be 58%. 

The fixed interest rate of the loan is 11% p.a. There are no periodical interest payments. The investment period is up to 8 months. 

The loan is secured by a first-rank mortgage on Paevälja St. 16 property.

Loan will be repaid from the sales revenue of Paevälja 16 private house (at the time of signing the real right contract).