Target € 435,000
Minimum Amount € 435,000
Minimum Investment € 50
Tähe bridge loan
- The loan is used to finance the purchase of the building, to enhance the value of the collateral and to start with the preparation works of the development project.
- As a loan collateral, the company offers a 2483m2 development land plot (according to the detailed plan, for a residential apartment building with commercial premises) in Tartu city centre.
- 24 three and four-room family apartments in addition to the 35 guest apartments, as well as commercial premises open to the street with a total area of 400 m2 are planned for the new apartment building.
- The loan applicant has long-term experience in real estate development in the centre of Tartu. The developer has been operating in Tartu since 2003, has built about 10 000 m2 of the residential real estate (approximately 400 apartments).
- The borrower has previously raised capital through EstateGuru platform which has been already fully repaid (principal amount of €300 000) with accumulated interest (€16 174) and all the interest payments have been done in due time. In addition, the borrower has also raised capital for two other projects where the principal has been partially repaid (€34 167) in addition to accumulated interest (€ 42 120).
- The loan is repaid by refinancing with bank's construction loan in 18 months period.
- Member of the board of the borrower is providing a personal guarantee in full mortgage amount.
- EstateGuru security agent will have the 1. rank mortgage on behalf of the lenders.