Funded
  • Deadline
    21.06.2022
  • Start of investment period
    17.06.2022
  • Start time
    16.06.2022 12:35
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    31.12.2022
  • Remaining term
    5 months
  • Expected rate of return
    11% p.a.
  • Expected cash yield
    %
  • No of investors
    33
  • Goal
    €10 000

Executive summary

Our new project offers an opportunity to finance the purchase and construction of Raiheina St. 35 single family house development. The property is located in on the border of Viimsi municipality and the city of Maardu, approx. 14 km (20 - 25 minutes drive by car) from Tallinn. There are mostly private houses in the direct neighborhood.  

Investors will be offered an opportunity to finance the purchase of the property and further construction in total amount of 260,000 euros. In the current fifth round the Sponsor is looking for 10,000 euros to finance the construction of Raiheina St. 35 property. Construction is underway - the house box has been erected, fascade has been insulated and plastered, doors and windows have been installed. Geothermal boiler, underfloor heating piping has been installed, floors and staircase have been casted. Internal gypsum works are underway. The construction deadline is July / August 2022. 

The fixed interest rate is 11% p.a. There are no periodical interest payments. The investment period is 31.12.2022 (up to 6 months). The Sponsor has the right to extend the loan period for 3 month with the interest rate of 13.5% per annum for the extension period.

Residential area of thee house is 174.7 m2. According to the appraisal report, the market value of the completed house is 426,000 euros and the value (at about 60% readiness) was 278,000 euros. The ratio of the loan principal to the market value of the collateral (LTV) is up to 69% at the end of construction. 

The loan is secured by a first-rank mortgage on Raiheina St. 35 property.

Loan will be repaid from the sales revenue of Raiheina St. 35 private house.

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