Funded
  • Deadline
    23.09.2022
  • Start of investment period
    19.09.2022
  • Start time
    14.09.2022 08:30
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    31.03.2023
  • Remaining term
    6 months
  • Expected rate of return
    11.4% p.a.
  • Expected cash yield
    %
  • No of investors
    60
  • Goal
    €40 000

Executive summary

Our new tranche offers an opportunity to finance the construction of Pärtli St. 6 single family house development. The property is located in Kuusalu municipality, Valkla village, approx. 40 km (or 35 minutes drive) from Tallinn city center. There are mostly new or under construction single-family houses in the neighborhood.

Investors have an opportunity to grant a loan in the total amount of 175,000 euros for the construction of Pärtli St. 6 single-family house. Amount of the  current second round is 40,000 euros. Following funding rounds will be based on actual construction works performed and construction deeds. Construction works are underway - exterior walls have been built and installation of roof structure is underway. Attached photos are as at September 12, 2022.

Size of the house is 141.5 m2 and it is a 3-bedroom house on one floor. Cost of the construction is 175,000 euros and planned completion is November 2022.

Fixed interest rate of the loan is 11% p.a. There are no periodical interest payments. The investment period up to 6 months.

According to the appraisal report, the market value of the property at the start of the funding was 88,000 euros and the future value, when construction will be completed, is 340,000 euros. The ratio of the loan principal to the value of the collateral (LTV) will be up to approx. 70% at the end of construction.

The loan is secured by a first-rank mortgage on Pärtli St. 6 property.

Loan will be repaid from the sales revenue of aforementioned single-family house.

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