Pärtli tee 6, Kuusalu vald (II)
Mortgage secured residential development project
- Start of investment period19.09.2022
- Start time14.09.2022 08:30
- Asset classResidential
- Investment typeDevelopment
- Investment end date31.03.2023
- Remaining term6 months
- Expected rate of return11.4% p.a.
- Expected cash yield%
- No of investors60
- Goal€40 000
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.