• Deadline
  • Start of investment period
  • Start time
    22.08.2019 08:05
  • Asset class
  • Investment type
  • Investment end date
  • Remaining term
    Overdue 90+ days
  • Expected rate of return
    11% p.a.
  • Expected cash yield
  • No of investors
  • Goal
    €400 000

Executive summary

The purpose of current investment opportunity is to provide bridge loan to finance the construction of 12 apartments (row house) in 3 separate row houses at Paevälja tee 6, Paevälja tee 8 and Paevälja tee 10, Viimsi, Estonia in the amount of EUR 400,000. The loan is secured by a first rank mortgage on 11 apartments of Paevälja tee 6, Paevälja tee 8 and Paevälja tee 10 properties. The investment earns a fixed interest rate at 11% p.a. and the loan agreement is scheduled for 12 months.

The project includes 12 luxurious 2 floor apartments with big terraces on the roof, which will be done in exclusive design using high-quality decorative materials. As of today, 2 apartments has been sold.
The construction works at Paevälja tee 6, Paevälja tee 8 and Paevälja tee 10 are ongoing - foundations and walls of the first floors have already been completed; at Paevälja tee 6, the second-floor walls have been completed as well. All communications have already been paid for and installed.
Construction works are scheduled to last until summer 2020. According to the professional evaluator, the current construction works readiness stage is around 15-20%.
The sales prices for apartments have been set to 295,000 - 315,000 euros per unit (approx.1700 EUR/m2) (one of the most expensive units is sold). The size of apartments ranges from 170,4 to 185,4 m2, each apartment has individual courtyard sized from 267 to 669,4 m2.

The bridge loan gives the Sponsor the opportunity to finance further construction up to the sale of 4 apartments, which opens the possibility of obtaining a bank loan. By the time the project was published, 2 apartments have been sold. The source of loan repayment is refinancing through a bank loan.


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