Funded
  • Deadline
    17.08.2022
  • Start of investment period
    19.08.2022
  • Start time
    10.08.2022 13:50
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    17.08.2023
  • Remaining term
    8 months
  • Expected rate of return
    13% p.a.
  • Expected cash yield
    %
  • No of investors
    210
  • Goal
    €100 000

Executive summary

This real estate development project available for investing is a two 3 floor-building residential apartment project with 24 units. The project is located in the beautiful resort city Jurmala 300 meters from the coast of the Baltic sea with endless white-sand beaches.
Crowdestate investors have previously helped finance the development land plot acquisition. Currently, the Sponsor of the project has completed a redesign of the project and has started construction works, grounds works have been completed and land plot is prepared for further construction.
The goal of this tranche is 100,000 EUR. The fixed interest rate for this funding round is 13% per annum. The loan will be returned and accrued interest will be paid from sales of the built apartment units at the end of 12 month loan period following the sales of the newly built units.
The loan will be secured by the 1st. rank mortgage on the Pumpura iela 3A property. The market value of this 4,594 m2 land plot is EUR 811,000, which, together with the 71 065 EUR value of completed construction works, gives the LTV ratio of 45% (49% LTV only against land value).

Crowdestate

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