Exited
  • Deadline
    31.10.2022
  • Start of investment period
    24.10.2022
  • Start time
    19.10.2022 08:45
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    12.01.2023
  • Remaining term
    Overdue 1-90 days
  • Expected rate of return
    13.1% p.a.
  • Expected cash yield
    %
  • No of investors
    124
  • Goal
    €73 000

Executive summary

Investors have granted 1st mortgage secured loans for Ristiku St. 2 construction in the total amount of 450,000 euros. The project owner wants to finance the construction in a larger amount than initially planned, and in addition to release some of equity to start the construction of a next project. As a result, investors are offered additional financing of Ristiku St. 2 project in the amount of up to 150,000 euros, secured by the 2nd rank mortgage. The total amount of Crowdestate investors' 1st and 2nd rank loans will be therefore 600,000 euros. The amount to be raised in the current and final round is 73,000 euros.

This is the construction of a row-house at Ristiku St. 2 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. 

All seven apartments have been sold with notarised pre-sale agreements! Amount to be received at signing of real right contracts will be 1,010,000 euros (including VAT). The ratio of investors' loans and the amount to be received from sales (including VAT) is approx. 60%. 

The construction of Ristiku St. 2 row-house is in the final stage and according to the construction deed, approx. 97% of construction work has been completed. Attached photos are as at October 17, 2022.

Fixed interest rate of the loan secured by a 2nd mortgage is 12.5% p.a. There are no periodical interest payments. The investment period is up to 2 months.

Size of all apartments is 102.4 m2. The average apartment price is 177,430 euros. 

The loan is secured by a second-rank joint mortgage on Ristiku St. 2 seven apartments.

Crowdestate investors have also financed the Sponsor's adjacent Ristiku St. 1 row-house development. The project was successful and obligations to investors were fulfilled correctly.  

Crowdestate

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