Rattasepa tee 33, Soinaste küla, Kambja vald
Semi-detached house near Tartu, Estonia
- Start of investment period05.10.2021
- Start time01.10.2021 11:00
- Asset classResidential
- Investment typeDevelopment
- Investment end date11.04.2022
- Remaining termOverdue 1-90 days
- Expected rate of return8.5% p.a.
- Expected cash yield%
- No of investors130
- Goal€40 000
The Sponsor is building semi-detached house at Rattasepa str. 33, Soinaste municipality, Kambja parish, Tartu country. The project is located 11 min away by car from the Tartu city centre. Tartu is the second largest city of Estonia. Tartu is often considered the intellectual centre of the country.
Sponsor asks for financing the project construction costs in total amount of EUR 209,000. The project financing is organized in several funding rounds. The amount of the first round is EUR 40,000.
Loan will be used to finance the construction of Rattasepa str. 33 semi-detached house The loan is secured by a first-rank mortgage on Rattasepa str. 33, Soinaste municipality, Kambja parish immovable with a market value of EUR 74,000 w/o tax. The current LTV of the project is 54%. The maximum planned LTV during the project is 75%.
All two apartments of semi-detached house at Rattasepa str. 33 has been pre-sold with notarised agreements. All apartments are architecturally identical and have a living area of 108.8 m2.
Loan period is 9 months and interest rate is 8.5% on an annual basis. Interest is paid as a lump sum at the end of the loan period or when the apartments are sold.
The planned sales price of the project is EUR 321,500.