Funded
  • Deadline
    18.10.2021
  • Start of investment period
    05.10.2021
  • Start time
    01.10.2021 11:00
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    30.06.2022
  • Remaining term
    8 months
  • Expected rate of return
    8.5% p.a.
  • Expected cash yield
    %
  • No of investors
    130
  • Goal
    €40 000

Executive summary

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.

Crowdestate

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