This investment opportunity is part of development project at Tammelehe street (Tabasalu, Harku county, Harjumaa) which includes 3 separate land plots. The first phase of the development - building a row house with 6 apartments at Tammelehe 2 which involved also Crowdestate investors, is successfully sold and is pending on construction to be completed. The Sponsor has received building permits also for next two properties in Tammelehe project, at Tammelehe 4 and Tammelehe 6. The Sponsor, Tammelehe Arenduse OÜ has started developing the second row house at Tammelehe 4.
This investment opportunity offers the possibility to fund the development of a row house located at Tammelehe 4 in the total amount of EUR 721 800. The development is financed 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 finished.
The second funding round of Tammelehe 4 development requires funding in the amount of EUR 225,000. The investment period of this tranche is up to 10 months and is paying a 12.0% 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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