This project provides Crowdestate investors with an opportunity to invest in development of row house development project in Tartu, Aeru 9 and Aeru 11, located in exclusive Kvissental precinct.
Kvissental is highly valued and private neighbourhood quite next to River Emajõgi on the northern border of Tartu, the second largest city in Estonia. As the result of this project, two row houses with six apartments in each will be built and sold. Both houses are approx. 60% completed already.
As we publish this opportunity, there is 1 apartment sold and 3 booked out of total 12 apartments.
The Sponsor of the project is established construction entrepreneur who functions also as main contractor in this project.
Crowdestate investors have an opportunity to finance the construction of Aeru 9 and Aeru 11 in the amount of EUR 570,000 in total.
Crowdestate investors have funded this project already in amount of EUR 400,000 by two previous funding rounds.
This current funding round has an objective to raise EUR 170,000.
The loans are secured by first rank mortgage on the Aeru 9 and Aeru 11 properties as well as personal assurance in the amount of EUR 100,000 by Mr. Enn Mullamaa, a board member of Westwood Invest OÜ, the sponsor of this project.
The loan term is 8 months and interest rate is fixed on 11% per annum.
Sponsor has agreed to quarterly interest payments.
The loan will be returned and outstanding interest will be paid out according to sales as 100% of sales revenues will be transferred to payouts to investors, but not later than expiry date.
The internal rate of return (IRR) of the first tranche is 11,40%.
Project offered by