Exited
  • Deadline
    19.09.2022
  • Start of investment period
    07.09.2022
  • Start time
    06.09.2022 13:00
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    11.11.2022
  • Remaining term
    Overdue 1-90 days
  • Expected rate of return
    10.4% p.a.
  • Expected cash yield
    %
  • No of investors
    62
  • Goal
    €68 000

Executive summary

The purpose of the current investment opportunity is to continue with the funding of Rae põik 2 terraced house construction. In this stage it is planned to build the next terraced house with 9 apartments at Rae põik 2, Rae municipality, Harju county, Estonia. While the project is located just outside Tallinn (capital of Estonia) city limits, it is 10 km away from Tallinn city centre.

The Sponsor, Väike-Rae Arenduse OÜ, intends to raise from Crowdestate investors 895,000 euros in several investment rounds. The funds will be used to finance the construction of Rae põik 2. The amount of the current tenth investment round is 68,000 euros. Total loans raised is 841,700 euros (including current 10th). 

The construction is in progress (about 94% is completed). The construction deadline is Autumn 2022.

All 9 apartments have been pre-sold. For successful exit it has to be sold (i.e. real right sales contracts signed) 6 apartments. 

Investment period is 4 months (30.12.2022)

Fixed interest rate of the loan is 10% 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 2 property with a row house building under construction.   

The value of the collateral is currently 1.1 million euros (incl. unbuilt land plot + actual construction works). LTV is currently 76%. 

The Sponsor has completed the terraced house of neighboring Rae põik 6, 8 and 10 plots and repaid Crowdestate investors' loan on time. 

Crowdestate

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