• Deadline
  • Start of investment period
  • Start time
    10.01.2022 07:00
  • Asset class
  • Investment type
  • Investment end date
  • Remaining term
    3 months
  • Expected rate of return
    9% p.a.
  • Expected cash yield
  • No of investors
  • Goal
    €80 000

Executive summary

The purpose of the current investment opportunity is to continue financing the next phase of Rae põik terraced houses project. In this stage is planned to build the next terraced house with 9 apartments at Rae põik 10, Rae municipality, Harju country, Estonia. While the project is located just outside the Tallinn (capital of Estonia) city limits, it is 10 km away from Tallinn city centre.

The Sponsor, Väike-Rae Arenduse OÜ, intends to raise with current investment round EUR 80,000 from Crowdestate investors, which will be used for financing the construction costs at Rae põik 10. The source of loan repayment is sale of completed apartments or refinancing through bank loan. 

The construction of the Rae põik 10 terraced house has been already started in Autumn 2021. The deadline for the completion of the project is Spring 2022.

All 9 apartments are sold with notarised pre-sale agreements. For successful exit has to be sold 6 apartments.

Loan term is scheduled up to 4 months

The investment earns a fixed interest rate at 9% p.a. There is no periodic interest payments.

The loan is secured by a first rank co-mortgage on 3 residential land plots of Rae põik 6, Rae põik 8 and Rae põik 10 with valid construction permit of identical row houses. The construction of terraced house at Rae põik 6 is 100% completed and all apartments are sold with pre-sale agreements. One apartment at Rae põik 6 left as an example for future buyers. And it is still used as Rae põik 8 and 10 investments additional security.  The construction of terraced house at Rae põik 8 is 84% completed and construction of terraced house at Rae põik 10 is 68% completed. All apartments at Rae põik 8 and 10 row houses are sold with notarised pre-sale agreements. 

According to evaluation reports and construction supervision acts current value of the collateral is EUR 1,784,631. According to that, the ratio of total amount of liabilities and collateral value (LTV) is 64,28%.


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