DebtResidential - Appartments
Target € 318,000
Minimum Amount € 318,000
Minimum Investment € 50
Tehnika 35 development loan
- The loan is used to acquire an apartment building in order to rebuild the house into an apartment building with six small apartments.
- The loan is secured by the purchasable apartment building in the centre of Tallinn.
- The loan collateral building is a renovated apartment building, where on the ground floor and at the basement there is a commercial-restaurant premise and on the first floor of the building, there is one large, well-maintained apartment.
- The loan is returned within 12 months from the sale of the apartments, and loan interest is serviced by the borrower's other operating income.
- Member of the Board of the Borrower is providing a personal guarantee in full mortgage amount.
- EstateGuru security agent will have the 1.st rank mortgage on behalf of the lenders.
- The borrower will add 1% bonus annual interest for investors committing more than €10 000 (total 12.5%)