Status

100%

finanziert

Teilen

Finanzierungsdaten (08/04/2019)

Finanziert
EUR 230.000,00
Finanzierungsschwelle
EUR 230.000,00
Min. investment
EUR 100,00

Einzelheiten

Land
Estland EE
Typologie
N.v.Secured debt
Sektor
ImmobilienResidential
Endtermin
08/04/2019 (1895 Tage)
Zinssatz
14.30%
Zinssatz p.a.
11.44%
Laufzeit
15 Monate
Investoren
836

Beschreibung

“This project provides Crowdestate investors with an opportunity to invest in mortgage secured loan which the Sponsor of the project - EEA Majad O├ť will use as working capital in development project located in Pargi Street 10, Tartu. The funds will be used to refinance current liabilities and to finance sales period of already completed apartments. Loan amount in this opportunity is EUR 230,000 with 16 months loan period. Development of Pargi Street 10 property involves two buildings with 50 units in total and two development phases. In the first phase a historical building (originally used as a public sauna) was reconstructed into apartment/commercial building with 42 units, 1670 m2 of total NLA. This phase is completed, use permit for completed units is obtained and ca. 70% of units are sold. The second phase includes new building to be constructed to the same property - an apartment house with 8 residential units with NLA 785 m2 in total. ┬áThe second phase is 50% completed and 1 apartment is already booked. Value of this construction as is is valued to EUR 650,000 or EUR 827 per m2. The loan is secured with 1st. lien mortgage on 6 apartments (NLA 515 m2 in total) in the second phase of the development project. Accordingly, current value of the collateral is EUR 426,000 excluding VAT. As according to included valuation document, the expected value of apartments after completion will be EUR 1,800 per square meter (excluding VAT), the value of collateral after completion will be EUR 945,000 (excluding VAT). Gert Roosaar, board member of EEA Majad O├ť has offered his personal assurance in the loan amount to secure the loan further. Loan period is set to 16 months. Interest rate for the loan is 11% per annum. The loan will be returned at the end of the loan period or according to sales of collateral units. The Sponsor has committed to quarterly interest payments. Calculated internal rate of return (IRR) would be 11,44%. Loan-to-value (LTV)┬áratio for this opportunity┬á┬áis 54%.”

Fortschritte bei der Finanzierung

Projektvorschau