Exited
  • Deadline
    10.06.2022
  • Start of investment period
    08.06.2022
  • Start time
    07.06.2022 12:40
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    05.08.2022
  • Remaining term
    Overdue 1-90 days
  • Expected rate of return
    11% p.a.
  • Expected cash yield
    %
  • No of investors
    74
  • Goal
    €28 000

Executive summary

The purpose of the current investment opportunity is to continue with the funding of Rae põik 10 terraced house construction. 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 several investment rounds up to 803,000 euros, which will be used to finance the construction of Rae põik 10. The amount of the current seventh investment round is 28,000 euros. The loan will be repaid from the apartment sales revenue. 

The construction is in progress (about 90% is completed). The construction deadline is June 2022.

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

Loan term is scheduled up to 3 months

Fixed interest rate is 11% p.a. There is no periodic interest payments. Accrued interest is payable at the signing of apartments' sales contracts or at the end of the loan period latest.

The loan is secured by a 1st mortgage on Rae põik 10 property. 

The value of the collateral is currently 966,000 euros (incl. unbuilt land plot + actual construction works). LTV of the project is currently 75% and at the end of the project 77%. 

The Sponsor has completed the terraced house of neighboring Rae põik 6 and 8 plots and repaid Crowdestate investors' loans on time.

Crowdestate

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