Ristiku 2, Pukamäe küla, Kohila vald
Terraced house with 7 apartments, Pukamäe, Kohila
- Start of investment period10.06.2022
- Start time30.05.2022 07:55
- Asset classResidential
- Investment typeDevelopment
- Investment end date15.11.2022
- Remaining termOverdue 1-90 days
- Expected rate of return11.2% p.a.
- Expected cash yield%
- No of investors257
- Goal€145 000
Our new project offers an opportunity to finance the construction of Ristiku St. 2 row-house in Kohila municipality, Pukamäe village, Rapla county, Estonia. The property is located 30-minute drive from Tallinn city center. It is close to Kohila small town which is with developed infrastructure.
Construction of the 7 apartment row-house is underway and the Sponsor intends to raise 145,000 euros in the first round, which is the amount of construction work based on the construction deed. Total amount to be raised for Ristiku 2 construction is up to 450,000 euros. Construction deadline is November 2022.
All seven apartments have been sold with notarised pre-sale agreements!
The fixed interest rate is 11% p.a. There are no periodical interest payments. The investment period is up to 7 months.
Size of all apartments is 102.4 m2. The average apartment price is 177,430 euros.
The loan is secured by a first-rank mortgage on Ristiku St. 2 residential property.
According to the appraisal report, the market value of Ristiku St. 2 undeveloped property is 92,000 euros. After the first funding round LTV is 61% and it will be up to 78% during the construction period.
Crowdestate investors have also financed the Sponsor's adjacent Ristiku St. 1 row-house development. In this project, first real right sales agreement and first loan repayment will be made in June 2022.