This investment opportunity is the final part of development project at Tammelehe street (Tabasalu, Harku county, Harjumaa) which includes building 3 row houses. The first phase of the development - building a row house with 6 apartments at Tammelehe 2 which involved also Crowdestate investors, has been successful as all the apartments are sold and house will be ready by Autumn 2018. Tammelehe 4 - also funded by Crowdestate - foundation is completed, building of house elements has started and 50% of apartments (3 units) are sold. Tammelehe 6 project is planned as a copy of previous two houses, enabling much shorter production time. Building permit for Tammelehe 6 has been issued and preparation works on site have started.
The Sponsor, Tammelehe Arenduse OÜ intends to fund Tammelehe 6 development with Crowdestate investors. The project offers possibility to fund the development in the total amount of EUR 720 000. Financing is arranged in tranches according to the invoices submitted by the main contractor. With each new funding round, the value of the underlying asset will increase until the row house is completed.
The first funding round of Tammelehe 6 development requires funding in the amount of EUR 145,000. The investment period of this tranche is up to 8 months and is paying a 11.0% interest rate p.a. Additionally, Sponsor has an option to unilaterally extend the loan period for up to 4 months with commitment to pay additional 2% interest for the extended period. The loan is secured by a first rank mortgage.
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