The purpose of current investment opportunity is to continue financing construction costs of a 5-apartment terraced house project. The property is located at Oja tee 4, in Loo borough, Jõelähtme municipality, Harju country, Estonia; 3 km outside of Tallinn (capital) city limits and 15 km from Tallinn city center.Project Sponsor, Manopla OÜ seeks to raise EUR 462,000 in total to finance construction activities of Oja tee 4 development project. Funding is organized through up to 6 funding rounds. Objective of current, the third funding round is to raise EUR 50,000, which will be used for financing the construction costs at Oja tee 4. The source of loan repayment is sale of completed apartments or refinancing through bank loan. The construction of the Oja tee 4 terraced house project has already started in October 2020. Sponsor intends to commission the project in late Spring 2021.The investment earns a fixed interest rate at 11% p.a. There is no periodic interest payments. Loan term is scheduled up to 9 months with a possibility to extend the loan term up to 6 months with higher interest rate of 13% p.a. The loan is secured by first rank mortgage on residential land plot of Oja tee 4, loo alevik, Jõelähtme municipality with valid construction permit. According to the valuation document, the value of the collateral at the beginning of the project was EUR 145,000. In our project analysis and in our financing decisions we assess the current property value somewhat lower, EUR 115,000. In our opinion this valuation would correspond better with economics of a development project with given parameters in that general location and we have capped the financing accordingly. To date, construction works have been completed in the amount of EUR 130,143. Done works are confirmed by construction supervision act. The ratio of loan amount of three funding rounds according to land plot reduced value and done construction works (LTV) is 72%.

Invest in a real estate development in Estonia and earn 11% p.a., full-bullet schedule

Real estate investment | Loo alevik

The purpose of current investment opportunity is to continue financing construction costs of a 5-apartment terraced house project. The property is located at Oja tee 4, in Loo borough, Jõelähtme municipality, Harju country, Estonia; 3 km outside of Tallinn (capital) city limits and 15 km from Tallinn city center.Project Sponsor, Manopla OÜ seeks to raise EUR 462,000 in total to finance construction activities of Oja tee 4 development project. Funding is organized through up to 6 funding rounds. Objective of current, the third funding round is to raise EUR 50,000, which will be used for financing the construction costs at Oja tee 4. The source of loan repayment is sale of completed apartments or refinancing through bank loan. The construction of the Oja tee 4 terraced house project has already started in October 2020. Sponsor intends to commission the project in late Spring 2021.The investment earns a fixed interest rate at 11% p.a. There is no periodic interest payments. Loan term is scheduled up to 9 months with a possibility to extend the loan term up to 6 months with higher interest rate of 13% p.a. The loan is secured by first rank mortgage on residential land plot of Oja tee 4, loo alevik, Jõelähtme municipality with valid construction permit. According to the valuation document, the value of the collateral at the beginning of the project was EUR 145,000. In our project analysis and in our financing decisions we assess the current property value somewhat lower, EUR 115,000. In our opinion this valuation would correspond better with economics of a development project with given parameters in that general location and we have capped the financing accordingly. To date, construction works have been completed in the amount of EUR 130,143. Done works are confirmed by construction supervision act. The ratio of loan amount of three funding rounds according to land plot reduced value and done construction works (LTV) is 72%.

Meie järgmiseks investeerimisvõimaluseks on 5 korteriga ridaelamuarenduse finantseerimine. Arendus asub Loo alevikus, aadressil Oja tee 4. Kinnistu jääb Tallinna piiridest 3 km kaugusele ja Tallinna kesklinnast 15 km kaugsele.Projekti Sponsor, Manopla OÜ soovib Crowdestate’i investoritelt ehitustegevuse rahastamiseks kaasata kokku 462,000 eurot. Rahastus korraldatakse kuni 6 rahastusvooru kaudu. Käesoleva, kolmanda rahastusvooru mahuks on 50,000 eurot. Laenu tagastamise allikaks on valminud korterite müük või refinantseerimine läbi pangalaenu. Oja tee 4 ridaelamu projekti ehitus algas 2020. aasta oktoobris. Projekti valmimise tähtaeg kevad 2021.a.Laenuperioodiks on 9 kuud ja fikseeritud intressimääraks 11% aasta baasil. Perioodilisi intressimakseid ei tehta.Sponsoril on võimalus lepinguperioodi ühepoolselt pikendada kuni 6 kuu võrra. Pikendusperioodi vältel on intressimääraks 13% aasta baasil.Laen on tagatud 1. järjekoha hüpoteegiga arendatavale kinnistule aadressil Oja tee 4, Loo alevik, Jõelähtme vald. Kinnistul on kehtiv ehitusluba ridaelamu projektile.Tagatisvara väärtuseks vastavalt hindamisaktile on 145,000 eurot. Finantsmudeli koostamisel ja finantseerimisel lähtume kinnistu väärtusest 115,000 eurot, mis on meie hinnangul paremas kooskõlas antud piirkonnas asuva ja antud parameetritega arendusprojekti ökonoomikaga. Omanikujärelevalve poolt kinnitatud ehitusakti järgi on ehitusse investeeritud 130,143 eurot. Vastavalt sellele moodustab eelmisest ja käesolevast rahastusvoorust lähtuvate kohustuste summa tagatisvara väärtusest (LTV) 72%.

Questa opportunità di investimento ha l'obiettivo di finanziare la continuazione dei lavori di costruzione delle 5 villette a schiera. La proprietà immobiliare è situata a Oja tee 4, nella località di Harju a soli 3 km da Tallinn e a 15 dal centro storico della Capitale estone. Lo Sponsor dell’iniziativa, Manopla OÜ mira a raccogliere complessivamente 462,000 € così da finanziare la costruzione. La raccolta è suddivisa in 6 tranches.L’obiettivo di raccolta di questa terzo tranche, è pari a 50 000 € che sarà usato per finanziare costi edili Oja tee 4. Il prestito verrà ripagato con la vendita dei primi appartamenti venduti o, eventualmente, con un finanziamento bancario.I lavori di costruzione presso le villette di Oja tee 4 sono partiti ad Ottobre 2020; l'orizzonte temporale del progetto è di nove mesi (conclusione stimata ad Autunno 2021), con la possibilità di estendere la durata di altri 6 mesi con un incremento dell'interesse al 13% annuo.L'investimento offre un tasso di interesse pari all'11% annuo, senza pagamenti intermedi degli interessi. Il prestito è garantito da un'ipoteca di primo grado sul terreno residenziale di Oja tee 4 con un permesso di costruire valido.  Il valore totale del collaterale è di 145.000 €. Durante la fase di analisi del progetto il valore del mercato della proprietà è stato ridotto e stimato sui 115.000 €, così da attenuare eventuali rischi. Ad oggi sono stati completati lavori di costruzione per Euro 130.143. I lavori eseguiti sono confermati dalla legge di direzione lavori. Per questo motivo, il rapporto tra l'ammontare delle due tranche di prestito e il valore dell'immobile è pari al 72% (LTV).

The purpose of current investment opportunity is to continue financing construction costs of a 5-apartment terraced house project. The property is located at Oja tee 4, in Loo borough, Jõelähtme municipality, Harju country, Estonia; 3 km outside of Tallinn (capital) city limits and 15 km from Tallinn city center.Project Sponsor, Manopla OÜ seeks to raise EUR 462,000 in total to finance construction activities of Oja tee 4 development project. Funding is organized through up to 6 funding rounds. Objective of current, the third funding round is to raise EUR 50,000, which will be used for financing the construction costs at Oja tee 4. The source of loan repayment is sale of completed apartments or refinancing through bank loan. The construction of the Oja tee 4 terraced house project has already started in October 2020. Sponsor intends to commission the project in late Spring 2021.The investment earns a fixed interest rate at 11% p.a. There is no periodic interest payments. Loan term is scheduled up to 9 months with a possibility to extend the loan term up to 6 months with higher interest rate of 13% p.a. The loan is secured by first rank mortgage on residential land plot of Oja tee 4, loo alevik, Jõelähtme municipality with valid construction permit. According to the valuation document, the value of the collateral at the beginning of the project was EUR 145,000. In our project analysis and in our financing decisions we assess the current property value somewhat lower, EUR 115,000. In our opinion this valuation would correspond better with economics of a development project with given parameters in that general location and we have capped the financing accordingly. To date, construction works have been completed in the amount of EUR 130,143. Done works are confirmed by construction supervision act. The ratio of loan amount of three funding rounds according to land plot reduced value and done construction works (LTV) is 72%.

Rahastuseesmärk:	€ 50000
Oodatav tootlus:	11 % aastas
Investeerimisperiood:	3 kuud
Riskikategooria:	C Riskihindamise mudel
LTV:	Madal risk %
Capital stack:	Tagatud laen

Oja tee 4, Loo (III)

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