Funded
  • Deadline
    17.06.2021
  • Start of investment period
    06.06.2021
  • Start time
    03.06.2021 13:15
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    31.01.2022
  • Remaining term
    6 months
  • Expected rate of return
    9% p.a.
  • Expected cash yield
    %
  • No of investors
    256
  • Goal
    €138 000

Executive summary

The purpose of the current investment opportunity is to finance the next phase of Rae põik terraced houses project. In this stage is planned to build the next terraced house with 9 apartments at Rae põik 8, 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 138,000 from Crowdestate investors, which will be used for financing the construction costs at Rae põik 8. The source of loan repayment is sale of completed apartments or refinancing through bank loan. 

The construction of the Rae põik 8 terraced house has been already started. The deadline for the completion of the project is Autumn 2021.

Loan term is scheduled up to 8 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. The construction of terraced house at Rae põik 6 is 74% completed and all apartments are sold with pre-sale agreements. The construction of terraced house at Rae põik 8 is 45% completed and 7 apartments are sold with pre-sale agreements.

According to evaluation reports and construction supervision acts current value of the collateral is EUR 1,595,848. According to that, the ratio of total amount of liabilities and collateral value (LTV) is 66,49%.

Crowdestate

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