Exited
  • Deadline
    12.04.2021
  • Start of investment period
    30.03.2021
  • Start time
    29.03.2021 13:00
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    22.10.2021
  • Remaining term
    Overdue 1-90 days
  • Expected rate of return
    9.5% p.a.
  • Expected cash yield
    %
  • No of investors
    105
  • Goal
    €52 000

Executive summary

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 52,000 from Crowdestate investors, which will be used for financing the construction costs at Rae põik 6. This is the fourth investment round. Previously Crowdestate investors financed construction works of Rae põik 6 terraced house project in amount of EUR 344,000 and refinanced other liabilities in amount of EUR 150,000. The source of loan repayment is sale of completed apartments or refinancing through bank loan. 

9 pre-sale agreements has been already signed!

Rae põik 6 project is 55% completed.

The construction of the Rae põik 6 terraced house project started in September 2020. The deadline for the completion of the project is Spring-Summer 2021.

Loan term is scheduled up to 10 months

The investment earns a fixed interest rate at 9,5% 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 1,135,000 (evaluation report EUR 739,000 and done construction works confirmed by construction supervision acts EUR 396,000). According to that, the ratio of total amount of liabilities and collateral value (LTV) is 48%.

Crowdestate

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