Funded
  • Deadline
    06.08.2021
  • Start of investment period
    01.08.2021
  • Start time
    23.07.2021 08:10
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    31.01.2022
  • Remaining term
    3 months
  • Expected rate of return
    9% p.a.
  • Expected cash yield
    %
  • No of investors
    231
  • Goal
    €84 000

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 84,000 from Crowdestate investors, which will be used for financing the construction costs at Rae põik 6. This is the sixth investment round. Previously Crowdestate investors financed construction works of Rae põik 6 terraced house project in amount of EUR 532,000 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 86% completed.

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

Loan term is scheduled up to 6 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 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 1,757,600 (evaluation report EUR 739,000 and done construction works confirmed by construction supervision acts for Rae põik 6 and Rae põik 8 in amount of EUR 1,018,600). According to that, the ratio of total amount of liabilities and collateral value (LTV) is 66,5%.

Crowdestate

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