Ristiku 3, Pukamäe küla, Kohila vald (II)
Terraced house with 4 apartments, Pukamäe, Kohila
- Start of investment period28.05.2021
- Start time26.05.2021 06:00
- Asset classResidential
- Investment typeDevelopment
- Investment end date31.10.2021
- Remaining term3 months
- Expected rate of return9% p.a.
- Expected cash yield%
- No of investors316
- Goal€120 000
The purpose of this current investment opportunity is to continue finance a terraced house project at Ristiku tn 3, Pukamäe municipality, Kohila parish, Rapla country, Estonia. The project is located 30 min away by car from the Tallinn city centre and close to Kohila town with developed infrastructure.
Investors will be offered an opportunity to finance the construction of row-house with four apartments in total amount of EUR 250,000 with two investment rounds. The amount of the second and last round is EUR 120,000. Construction is in progress - installation of house elements is done, the roof has been installed, facade installation and interior decoration is underway. The construction deadline is July-August 2021.
All four apartments have been pre-sold.
The fixed interest rate is 9% p.a. There are no periodical interest payments. The investment period is up to 6 months with 3 months extension opportunity with an interest rate of 11% p.a. for the extension period.
Apartment sizes are 92 m2 (4 apartments). The average apartment price is EUR 126,750.
The loan is secured by a first-rank mortgage on residential land plot at Ristiku tn 3, Pukamäe municipality, Kohila parish, Rapla county.
According to the evaluation report of one apartment and construction supervision act, the current value of all four apartments at Ristiku tn 3 is EUR 379,760 . According to that, the ratio of the current liabilities and collateral value (LTV) is 66%.