Status
financed
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Funding data (27 June 2018)
Details
Description
“Oksa Arendus OÜ is developing an apartment building with 5 apartments and 2 commercial premises in Oksa 6a, Tallinn. Commercial premises are planned to be used as rental apartments. The Sponsor seeks to fund property acquisition and building process in the total amount of EUR 501,000. Funding will be arranged in three tranches. The funding target for the first tranche is EUR 101,000. The first tranche will earn a 12% fixed annual interest rate during up to 18 months loan period, producing an IRR of 11,02%. As of publishing the project, 3 apartments are already booked. In July 2018 the Sponsor has planned to acquire the property. Building will start at the end of 2018 or in Q1 2019. All loans in all tranches have a 1st lien cross-collateral mortgage in the total amount of EUR 685,000. The mortgage will be held in favor of investors by Crowdestate Collateral Agent. As the Sponsor is obliged to return 100% of sales revenues to Crowdestate investors, the actual loan period may turn out to be shorter. The Sponsor will invest EUR 340,000 equity into this project. Investments will be used for acquiring the property and financing construction works. ”