This investment opportunity allows investors to funds the construction of a small apartment building with 11 apartments and 2 business premises in Kohila parish, Vabaduse 16, Kohila, Estonia by the developer Starelement OÜ.
This is the 2nd Crowdestate funding round of the development project launched in the summer of 2017.
The Sponsor of the project, Starelement OÜ and its sole owner, Mr Jaanus Jässi (hereinafter: Sponsor) is looking to crowdfund EUR 170,000 for financing construction costs, planning to use less than the originally estimated amount of senior bank loans.
The Sponsor has issued 100% share pledge in favor of Crowdestate Collateral Agent OÜ for the loan period.
This investment opportunity offers investors a set fixed interest rate of 14% p.a. for a loan term of up to 7 months. In case the sales speed exceeds expectations, The Sponsor intends to repay the raised capital as fast as possible.
The development stage of the project is currently at 75%, and notarized purchase agreements are concluded for 55% of the available units. Additionally, reservation agreements have been signed for two apartments and there are negotiations underway to sell commercial premises.
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