Exited
  • Deadline
    04.09.2020
  • Start of investment period
    27.08.2020
  • Start time
    25.08.2020 10:00
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    01.07.2021
  • Remaining term
    Overdue 90+ days
  • Expected rate of return
    10% p.a.
  • Expected cash yield
    %
  • No of investors
    445
  • Goal
    €75 000

Executive summary

The Sponsor is building a private house on Tervise St. 11 property in Laagri borough (20 minutes from Tallinn city center) and offers investors an opportunity to finance the construction in the amount of EUR 150,000. The amount to be raised in the second round is EUR 75,000. Construction is underway: the facade has been insulated and the installation of the facade tiles has begun, interior work is also underway. Cost of construction is EUR 248,000 (incl. VAT) and the deadline for the works is September 2020. There will be two funding rounds. The house's net living area is 202.5 m2, plus garage and terraces. 

Investors' loans are secured by a first-rank mortgage on Tervise St. 11 property. Fixed interest rate is 9.5% p.a., investment period is 10 months and the internal rate of return (IRR) of the loan with monthly interest payments is 10%. The market value of the private house is estimated at EUR 427,000. The loan-to-value ratio (LTV) is 35%

The requested loan will be repaid by refinancing with a long-term bank loan or from revenues of the Sponsor's other projects (eg. from sales revenue of Metsapargi St. 4 terraced house apartments). 

Crowdestate investors have financed the Sponsor's terraced house projects at Veskioja St. 1 and Metsapargi St. 4 and the semi-detached house at Viirpuu tn 12. All projects have been successful and investors' capital and interest have been repaid earlier.

Crowdestate

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