Tervise tn 11, Laagri (III)

Crowdestate investors have funded the construction of a private house at Tervise St. 11 property in Laagri borough (20 minutes from Tallinn city center) in total amount of EUR 150,000. The construction has been almost completed and the permit of use is being applied for in the coming weeks. The Sponsor offers an opportunity to refinance previous loans in the same amount.  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 12 months and the internal rate of return (IRR) of the loan with monthly interest payments is 10%. The market value of the property is EUR 535,000. The loan-to-value ratio (LTV) is 28%. 

The requested loan will be repaid by refinancing with a long-term bank loan or from revenues of the Sponsor's other projects (private house developments in Veskimöldre area).

Crowdestate investors have financed the Sponsor's terraced house projects at Veskioja St. 1 and Metsapargi St. 4, the semi-detached house at Viirpuu tn 12 and constructions of three private houses at Kesalille St. . 7, 9 and 11. All projects have been successful and investors' capital and interest have been repaid earlier.