General Information

  • IRR%: 16.1
  • CoC%: -
  • Minimum: 100 EUR
  • Type: Mezzanine
  • Asset: Residential
  • Investors: 1.09k
  • Start Date: 2019-02-08
  • End Date: 2021-02-28
  • Target: 500k EUR
  • Completed: 100%

Additional Information

  • Veskimöldre
  • Estonia

Our new project offers investors the opportunity to participate in financing of infrastructure construction of Veskimöldre-2 residential area in the amount of 950,000 euros. In Veskimöldre-2 project, roads and communications have been built and sale of plots is in progress - 35% of plots is sold. The Sponsor has already invested EUR 10 million and there is yet to meet the investment commitment of EUR 1.2 million agreed with the municipality in the planning process, for which a loan from Crowdestate investors is being partially financed.

Funding is provided in three parts. Current first round funding is in amount of EUR 500,000. The investment is secured by a 3rd ranking mortgage on 117 residential plots (197,171 m2) valued at EUR 10.6 million (excluding VAT). The balance of the first and second ranking mortgage loan is EUR 4 million. LTV of the project is 47% (the ratio of mortgage-secured loans to value of 117 properties). In addition to the mortgage,  parent company Brave Capital OÜ provides a guarantee of EUR 200,000.

Crowdestate investors' loan bears an interest rate of 15% per annum. Interest payments are quarterly and the principal amount will be returned from the sales income of residential plots of Veskimöldre-2 - 20% from the sales value (excluding VAT) of each plot will be transferred as repayment of Crowdestate investors' loan.

The investment period is up to 24 months. The expected return (IRR) on a loan with quarterly interest payments is 16.1%.

The development of Veskimöldre-2 residential area includes 167 single-family house plots, 121 row house apartments, a supermarket, dining places, health trails, schoolhouse. Residential plots are priced between EUR 90,000 and EUR 160,000 (average EUR 115,000) and average plot size is 1606 m2.

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