General Information

  • IRR%: 12
  • CoC%: -
  • Minimum: 100 EUR
  • Type: Secured debt
  • Asset: Residential
  • Investors: 500
  • Start Date: 2019-01-18
  • End Date: 2019-07-31
  • Target: 150k EUR
  • Completed: 100%

Additional Information

  • Tammelehe 4, Tabasalu
  • Estonia

This investment opportunity is the fourth and final funding round of Tammelehe 4 (Tabasalu, Harku county, Harjumaa, Estonia) row house development project.

Development of Tammelehe street 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, Tammelehe Arenduse OÜ has started developing the second and third row house at Tammelehe 4 and Tammelehe 6, involving also capital from Crowdestate investors.

Tammelehe 4 development requires funding amounting EUR 721 800 in total. The funding 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 finished. 

This fourth and final funding round of Tammelehe 4 development requires funding in the amount of EUR 150,000. The investment period of this tranche is up to 9 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 on the property. The Sponsor, Constructor and Crowdestate have signed a agreement for security acquisition of construction elements in the possession (prior to installation into Object) of Constructor to Crowdestate Collateral Agent as well as assignment of claims by Sponsor against Constructor to Collateral Agent.

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