Exited
  • Deadline
    07.05.2021
  • Start of investment period
    29.04.2021
  • Start time
    22.04.2021 08:00
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    21.09.2022
  • Remaining term
    Overdue 1-90 days
  • Expected rate of return
    14.5% p.a.
  • Expected cash yield
    %
  • No of investors
    256
  • Goal
    €100 000

Executive summary

The goal for this opportunity is to finance the construction of 12 individual houses, situated at 33, Samurcasi street, Gulia village, Tartasesti, Dambovita county. This will be phase 1 of a larger 30 houses project on a land of 21,101 sqm.

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 400,000, arranged in 5 tranches, based on the progression of works. 

  • The 1st tranche of the investment opportunity in the amount of EUR 50,000 was raised in June

  • The 2nd tranche of EUR 50,000 was raised in August 2020

  • The 3rd tranche of EUR 50,000 was raised in September 2020;

  • The 4th tranche of EUR 150,000 was raised in November 2020;

  • This will be the 5th and final tranche of EUR 100,000.

The source of reimbursement will be the sale of the houses when finalized.

At this moment, all 12 houses of the 1st phase are pre-contracted and expected to be delivered between May 2021 - June 2021.

The investment tenor for this 5th tranche is up to 5 months. The interest rate is 14.50% p.a. and it will be paid in monthly installments. The loan will be secured with a 5th rank mortgage on the land and future buildings (the 1st rank mortgage is in favor of the 1st tranche investors, the 2nd rank mortgage is in favor of the 2nd tranche investors, the 3rd rank in favor of the 3rd tranche investors and 4th rank in favor of 4th tranche investors). 

Outstanding exposure will reach EUR 400,000, which is ~19 euro/sqm of land. The land (without already completed construction) has been evaluated for EUR 966,700, which is ~45 euro/sqm.

The below video shows Homefield - the prior project of the Sponsor - now finalized and sold.


Crowdestate

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