Sprukstes iela (I)
Mortgage-backed short term loan
- Start of investment period05.04.2021
- Start time13.01.2021 09:00
- Asset classResidential
- Investment typeDevelopment
- Investment end date21.01.2022
- Remaining term9 months
- Expected rate of return11.5% p.a.
- Expected cash yield%
- No of investors861
- Goal€285 000
With this project, the Sponsor aims to raise 285,000 euros against first lien mortgage on real estate property located 200 meters from the beautiful lake Kisezers, which is the 10th largest lake in Latvia and largest lake on the territory of Riga city.
The aim of the loan is to partially finance the purchase of the land plot with a goal to design and create a multi-storey apartment house project.
The recent real estate value estimation document states that the real estate value of the property is 668,000 which gives Crowdestate investors a safe position with a very low LTV ratio of 42,7%.
This senior loan will be secured by the first-lien mortgage on a 11893 m2 large land plot in Sprukstes street 13, Riga.
This senior loan offers Crowdestate investors a short-term investment opportunity with the term of 12 months at 11,5% annual interest rate.