Published
  • Deadline
    27.11.2020
  • Start of investment period
    01.01.1970
  • Start time
    20.10.2020 08:50
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    15.10.2021
  • Remaining term
    10 months
  • Expected rate of return
    11.7% p.a.
  • Expected cash yield
    %
  • No of investors
    676
  • Goal
    €230 000

Executive summary

The Sponsor intends to refinance existing liabilities and offers the opportunity to grant a EUR 230,000 loan (minimum goal EUR 200,000) secured by a 1st rank mortgage on Viimsi põik 18 immovable. The property is located in the highly valued Pirita district, in Merivälja urban area, about 9 km from Tallinn city center. The immovable property includes a 152.2 m2 one-family dwelling which has been renovated in 2005. The property offers sea-views over Tallinn Bay and city skyline. The value of the property is EUR 305,000 (see the appraisal report) and LTV 75%.  

Loan interest rate is 11.2% on an annual basis. First interest payment will be made in 6 months after the loan is issued and from there interest is paid monthly. The internal rate of return (IRR) on the loan repayable on the above schedule is 11.7%

Investment period is 12 months and the term can be extended once unilaterally by the borrower by 6 months. After the extension, the interest rate will be 12.2% p.a. 

The loan will be repaid when property is sold or by refinancing at the end of the loan period latest. 

Crowdestate

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