R. Tobiase 3 is a small luxury residential building located in the highly valued Kadriorg district in Tallinn, Estonia. This apartment building is being developed by the largest Estonian residential real estate developer, Endover Real Estate. The development is in the middle of the construction phase and is scheduled to be completed by autumn 2018. 60% of the 12 apartments have already been sold.
R. Tobiase 3 development has already been co-funded by Crowdestate's investors in the amount of EUR 413 400 in May 2016.
Due to the delayed issuance of the construction permit, this project is about 12 months behind its originally planned schedule and as Crowdestate's first funding round is reaching its maturity, Endover Real Estate is looking to refinance the previous funding round with the new and shorter one.
Endover Real Estate is looking to raise EUR 413 400 at 12,42% annual interest rate and with a maturity of up to 1 year.
The capital raised during this funding round will be used to refinance the previous crowdfunded capital.
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