Funded
  • Deadline
    10.09.2021
  • Start of investment period
    21.09.2021
  • Start time
    25.08.2021 07:00
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    31.03.2023
  • Remaining term
    17 months
  • Expected rate of return
    16% p.a.
  • Expected cash yield
    %
  • No of investors
    713
  • Goal
    €350 000

Executive summary

The goal for this opportunity is to finance the construction of an apartment building, with 110 apartments, situated at 103A, Timisoara Blvd., Bucharest, district 6, Romania. This will be Phase 2 of a larger 230 apartment development on a land of 5,000 sqm. Phase 1 including 69 apartments was completed and sold completely in 2019.

Crowdestate investors will have the opportunity to invest in a mortgaged secured senior construction loan in a total amount of up to EUR 3,000,000, arranged in 6-12 tranches, based on the progression of works and the pre-sales. The first tranche of EUR 250,000 was raised in February 2021. This current investment opportunity is the 2nd tranche of the project. The Sponsor seeks funding in amount of EUR 350,000 to proceed with construction.

The source of reimbursement will be the sale of the units when finalised.

The investment tenor for this tranche is up to 20 months. The interest rate is 16% p.a. and it will be paid in semiannual instalments of 8% p.a. interest, with the remaining difference at the end of the loan period or at principal reimbursement, whichever comes first. The loan will be secured with a 1st rank mortgage on the land and future buildings. The land & existing structure (underground) at this moment has been evaluated for EUR 1.3 million by Colliers International, using the residual income method.

Crowdestate

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