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Here is your daily dose of good news. As of March until today (16.04) we have paid over EUR 1.8 million in principal repayments and interest income to investors. Additionally, investors have successfully exited from 5 projects and we will give you a short overview of them:
Metsa tee 30, 32, 37, 41 project
746 investors invested 330 000 EUR with 15% expected annual return in the development of Metsapargi Kodud 4 apartment buildings with a total of 60 apartments on Metsa tee 30, 32, 37 and 41 properties in Iru village, close to Tallinn border. The loan term was up to 11 months.
As of today, the total amount of 342 647 EUR (principal and interest) has been paid to investors. The project’s internal rate of return (IRR) turned out to be 15.91% per year.
Read more about the project here.
Crowdestate investors also funded this project’s Sponsor’s previous development project at Sooja 2 in Saue (88 apartments). This project was also successful and the investors’ capital and accrued interest were repaid on time.
Pargi 10, Tartu (II) and (III) project
1174 investors helped to raise 330 000 EUR with 11.40% expected annual return for the construction of the Pargi 10 development project, which included two buildings with a total of 50 residential and office spaces. The loan term was up to 13 months.
As of today, the total amount of 356 086 EUR (principal and interest) has been paid to investors. The project’s internal rate of return (IRR) turned out to be 11.42% per year.
Get the full info about the Pargi 10, Tartu (II) project here.
Both funding rounds were secured by a 1st. rank mortgage on 6 apartments (NLA 515 m2 in total). In addition to the mortgage, there was a personal guarantee of EUR 230 000 from the project’s Sponsor.
Taevasilma 5 (I) and (II) project
1349 investors funded 500 000 EUR with 11% expected annual return to finance the construction of 10 apartment row-house at Taevasilma St. 5 plot in a Veskimöldre 2 residential area. The loan term was up to 15 months.
As of today, the total amount of 537 902 EUR (principal and interest) has been paid to investors. The project’s internal rate of return (IRR) turned out to be 11.23% per year.
More info about the project here.
The Sponsor’s previous row-house project funded by Crowdestate investors at adjacent Metsapargi St. 6 plot was also successful and Sponsor launched a project of the same size at Taevasilma St. 5 to meet the demand for row-house apartments.
Luckily, we have 2 real estate development projects currently open to investing if you missed out on the previous ones:
Vēja Street 4, Ādaži, Ādažu county, Latvia
A waterfront (own private boat dock) two-section twin house development project in the nice Adazi village just 20 km from Riga city center.
In the first funding round, the Sponsor plans to raise EUR 180 000. Loan interest rate is 13% on an annual basis and the interest and principal repayment will be done from the sales proceeds which are expected in the spring of 2021. The investment period is up to 12 months.
Jõeküla tee 18, Tallinn
The project consists of the construction of Jõeküla tee 18 four unique apartment buildings which are built in the heart of the highly valued Kakumäe peninsula.
In the first funding round, the Sponsor plans to raise EUR 200 000. The loan interest rate is 10% on an annual basis and the first interest payment will be made in 12 months from the first funding round. The investment period is up to 18 months.
The loan is secured by 1st rank mortgage.
Our minimum investment amount is 100€ and there are no investing fees. In case you have questions or need help, feel free to write to us via [email protected].