Pending settlement
  • Deadline
    20.05.2022
  • Start of investment period
    01.01.1970
  • Start time
    29.04.2022 10:00
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    30.04.2023
  • Remaining term
    11 months
  • Expected rate of return
    13% p.a.
  • Expected cash yield
    %
  • No of investors
    155
  • Goal
    €79 300

Executive summary

The goal for this opportunity is to finance the construction of 4 individual houses on a total land of 2330 sqm, situated at 11 Zori de zi street, Balotesti, Ilfov county, Romania. 

Crowdestate investors will have the opportunity to invest in a mortgaged secured senior construction loan (for more information regarding senior debt, please check out this blog post - https://blog.crowdestate.eu/en/2020/secured-loan-definition/) in a total amount of EUR 440,000, arranged in 3-4 tranches, based on the progression of works and the presales. This is the 2nd tranche of the investment opportunity for EUR 79,300. 

The source of reimbursement will be the sale of the houses when finalized. The houses are expected to be delivered between September 2022 - October 2022. The second possible source of reimbursement can be refinancing from one of the banks operating in Romania.  

The investment tenor for this tranche is up to 12 months. The interest rate is 13% p.a. and it will be paid upon the selling of the objective, partially or in whole, together with the principal, but no later than the loan’s maturity. The loan will be secured with a 2nd rank mortgage on the land and future buildings. The land & existing structures of the first 4 houses, that are in various stages of development at this moment, have been evaluated for EUR 360,963 by SVN Research & Evaluation Advisors, therefore the LTV is 47%. 

Crowdestate

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