Pending settlement
  • Deadline
  • Start of investment period
  • Start time
    17.03.2023 09:15
  • Asset class
  • Investment type
  • Investment end date
  • Remaining term
    7 months
  • Expected rate of return
    16% p.a.
  • Expected cash yield
  • No of investors
  • Goal
    €95 900

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 14-16 tranches, based on the progression of works and the pre-sales. Currently, the remaining loan balance financed through the platform is EUR 1,625,100. The 1st tranche of the project in amount of EUR 250,000 was fully reimbursed at end of February 2023, according to the reimbursement schedule. This will be the 11th tranche of the project in the amount of EUR 95,900. 

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

The investment tenor for this tranche is up to 7 months. The interest rate is 16% p.a. and it will be paid in semiannual installments of 8% p.a. interest, with the remaining difference at the end of the loan period or at reimbursement, whichever comes first. The loan will be secured by a 10th rank mortgage on the land and future buildings (with previous ranks in favor of previous tranches investors; 1st rank mortgage was deleted from LandBook after 1st tranche was fully reimbursed). The land & existing structure (underground) was initially evaluated for EUR 1.3 million by Colliers International (using the residual income method) and ~EUR 3.59 million were invested additionally from Sponsor’s equity, pre-sales and Crowdestate’s loans.


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