Funded
  • Deadline
    30.09.2021
  • Start of investment period
    21.09.2021
  • Start time
    16.09.2021 07:20
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    15.09.2022
  • Remaining term
    10 months
  • Expected rate of return
    9.5% p.a.
  • Expected cash yield
    %
  • No of investors
    170
  • Goal
    €80 000

Executive summary

The Sponsor is building three single-family houses at once - Väljamaa tee 7, 8 and 10 (Hüüru village, 15 kms from Tallinn) - and wants to raise 80,000 euros as a mortgage loan. Loan will be used to finance the construction of Väljamaa tee 7 house and partly the construction of Väljamaa tee 8 and 10 houses. The loan is secured by a first-rank mortgage on Väljamaa tee 8 and 10 immovables with a market value of 172,000 euros. The LTV of the project is 46.5%. 

Immovables are located in Hüüru village, Saue municipality, 15 km from Tallinn city center (or 20 - 25 minutes by car). Plots are located at Mõisaniidu residential area developed by the Sponsor himself - 29 plots of single-family houses with roads and utility networks. All plots have been sold. 

All three houses are architecturally identical and have a living area of ​​127.6 m2. The Sponsor will build prefabricated houses and sell them to end users. Investors' loan with interest will be repaid from the sales revenue. Pre-sales contract has been signed for the sale of Väljamaa tee 7 house. From his own equity the Sponsor has made advance payments to the factory for prefabricated house elements. Construction of foundations of Väljamaa tee 8 and 10 have been also funded from Sponsor's own equity. 

Loan period is 12 months and interest rate is 9.5% on an annual basis. Interest is paid as a lump sum at the end of the loan period or when the houses are sold.

The planned sales prices of the house is 299,000 euros.

Crowdestate

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