Funded
  • Deadline
    02.09.2021
  • Start of investment period
    16.09.2021
  • Start time
    20.08.2021 07:00
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    31.08.2022
  • Remaining term
    10 months
  • Expected rate of return
    14% p.a.
  • Expected cash yield
    %
  • No of investors
    289
  • Goal
    €100 000

Executive summary

The goal for this opportunity is to finance the finalisation of the construction of a partially commissioned building, a residential project consisting of 8 new apartments located in Bucharest, 2A Vatra Dornei street. This UG + GF + 3F + 4R residential project will have a total built area of 570 sqm and will consist of 8 units with an usable area of ~44 sqm each.

Crowdestate investors will have the opportunity to invest in a mortgaged secured senior construction loan (for more information regarding senior debt, please check out this blog post - https://blog.crowdestate.eu/en/2020/secured-loan-definition/) in a total amount of EUR 100,000, arranged in 1 tranche. 

The source of reimbursement will be the sale of the apartments when finalised. The apartments are expected to be delivered between February 2022 - March 2022. 

The investment tenor for this opportunity is up to 12 months.

The interest rate is 14% p.a. and it will be paid upon the selling of the objective, partially or in whole, together with the principal, but no later than the loan’s maturity.  The loan will be secured with a 1st rank mortgage on a private house and 13 parking lots, property of the Sponsor. The collateral has been evaluated for EUR 228,000 by Neoval Consulting, therefore the LTV is 44%.

Crowdestate

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