Rae põik 6, Rae vald, Harju country, Estonia (II)
9 Terraced Houses near Tallinn
- Start of investment period18.01.2021
- Start time14.01.2021 09:00
- Asset classResidential
- Investment typeDevelopment
- Investment end date30.09.2021
- Remaining termOverdue 1-90 days
- Expected rate of return11% p.a.
- Expected cash yield%
- No of investors558
- Goal€181 000
The purpose of the current investment opportunity is to continue financing a terraced house project with 9 apartments at Rae põik 6, 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 EUR 181,000 from Crowdestate investors, which will be used for financing the construction costs at Rae põik 6. The source of loan repayment is sale of completed apartments or refinancing through bank loan.
6 pre-sale agreements has been already signed.
The construction of the Rae põik 6 terraced house project started in September 2020. The deadline for the completion of the project is Spring 2021.
Loan term is scheduled up to 12 months.
The investment earns a fixed interest rate at 11% p.a. There is no periodic interest payments.
The loan is secured by a first rank 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.
Total current value of the collateral is EUR 801,000 (evaluation report EUR 739,000 and done construction works confirmed by construction supervision act eur 62,000). According to that, the ratio of total amount of liabilities and collateral value (LTV) is 48,2%.