Tiskre residences development loan II Funded: 01.11.2017

  • Tiskre residences development loan II
  • Tiskre residences development loan II
  • Tiskre residences development loan II
  • Tiskre residences development loan II
  • Tiskre residences development loan II
  • Tiskre residences development loan II
  • Tiskre residences development loan II
  • Tiskre residences development loan II
  • Tiskre residences development loan II
  • Tiskre residences development loan II
  • Tiskre residences development loan II
  • Tiskre residences development loan II

Executive Summary

    • Releasing equity for the development preparation period
    • Borrower adds a 1% bonus to annual interest for investments of at least €10,000 (combined annual interest 11.5%).
    • The loan will be used to release equity for the development preparation period (preparation of a development project, projection, and for the process of obtaining a building permit).
    • The loan is secured by the residential land plots (with a detailed plan for a multistorey residential development), Harju County, Harku parish, Tiskre village, Liiva tee 26, 28 and 30.
    • The properties are located in a newly developed area, where there has been an increased development activity over the past year. Harku municipality built a new asphalt road connecting Harku parish and the Tiskre district (Liiva tee). In the neighbourhood, several new apartment buildings and private quarters are being developed. The region has a high development potential due to the closeness to Tallinn. On the south side, the area is bordered by the residential area of Alasniide and the highly valued Tiskre seafront residential area is located in the north (about 1.5 km away).
    • The development of the adjacent road network including street lighting has been completed and there is a central utility network available.
    • This is an attractive location within an 11-minute drive of the centre of Estonia's vibrant capital in the junction of two main roads from the Baltic Sea and Harku, between Tabasalu, Nõmme and Kakumäe. The development is blended with picturesque forest and ridge landscapes and offers a variety of leisure opportunities in the area. The established social infrastructure with a kindergarten, medical services, sports facilities and gastronomic services in Tiskre village, Tiskre beach and near Kakumäe makes the location valuable.
    • According to the detailed plan, 2 detached row house buildings with up to 5 units can be built with a maximum gross enclosed area 1800 m2 (2 buildings/per plot).
    • The sales of the project for sector I have already started. The development http://www.tiskreresidentsid.ee website is published and UusMaa Kinnisvarabüroo has been selected as the sales partner.
    • The loan will be returned from refinancing by equity investor, after the issuance of a building permit in 12 months period, by selling the development project or from the construction financing kicking in including incoming revenues from the pre-sale of the row house apartments and associated plots.
    • The EstateGuru security agent will have the 1st rank mortgage on behalf of the lenders.
    • The borrower will add 1% bonus annual interest for investors committing more than €10 000 (total 11.5%)

    Tiskre Residences Development Project

    Tiskre Residentsid (the 'developer') acquired a development area with 6.64 hectares in mid-2015. The planning of the development area immediately started - an architectural competition was organized and the design solution for the whole area was selected. Then, in cooperation with the owners of neighbouring plots, the infrastructure of the region - roads, street lights, and utility networks were built.

    The architecture planning is provided by Kadarik Tüür, a leading Estonian architectural bureau in cooperation with renowned local interior architects and designers from Saha In. The project consists of the gradual development of residential real estate for various population groups, especially young families, and includes 2x6 and 2x8 apartment buildings and attractive housing in terraced houses. SWECO in cooperation with the RPG designs engineering solutions. The engineering company TELORA is responsible for the external monitoring.

    The development project consists of three parts:
    Sector 1 comprises 8 gallery apartment houses and 2 detached row houses located near the existing houses of Nõmme tee, to best utilize the value of the surrounding attractive ridge slope and forest environment. In total up to 60 residential units.

    In Sector 2, there are a total of 30 terraced residential units in six, row houses, each consisting of 5 units per building. This section also includes a green community area with 6,786 sqm for a planned nursery-kindergarten with 600 sqm gross buildable area and up to 9-metre eaves height, making the development project especially attractive for young families.

    Sector 3 is adjacent to the kindergarten and green area consists of 12 planned buildings on 9 plots with a higher density of up to 122 units and the infrastructure of which is constructed along the Juure Road and the main Liiva Road. Construction planning, permitting and implementation starts step-by-step in 2018.

Loan Terms

Loan Contract Number

Please register or log in to see full details.

Log in / Register
Quick Overview
  • 10.5%+1.0%
    Investment ≥ €10,000 = 1.0% bonus
100.0% filled, 615 investors
  • Expires In Default
  • Target €345,000
  • Collateral value €606,000
  • LTV 57.0%
  • Loan Period 12 months
  • Schedule Type Full bullet
  • Mortgage Rank First rank
  • Property Type
  • Loan Type Business loan
  • Location Estonia

Please register or log in to see full details.

Log in / Register

Investing

  • You must be at least 18 years old and have a bank account in any of the EEA member states or in Switzerland in order to lend through EstateGuru. We also have to perform certain "know your customer" checks before you can start investing with EstateGuru.
  • The minimum investment amount is €50.
  • Depending on the project characteristics the annual interest rate can range between 8% and 13%.
  • All the loans are backed with a mortgage. Once the loan is fully invested, the borrower has to go to the notary office and enter into an agreement with the Security Agent to create a mortgage. The mortgage will then be registered at the Land Register (with the Security Agent as mortgagee on behalf of the investors). The Security Agent is a separate limited liability company whose primary purpose is to hold securities for the benefit of investors making investments via EstateGuru. The name of the entity is EstateGuru Tagatisagent OÜ. The entity is controlled by the leading Baltic law office of Jesse&Kalaus
  • EstateGuru makes it easy for investors to access a variety of real estate investments with a relatively small amount of capital. The minimum amount for investment is €50, which enables investors to create a diversified portfolio. All loans are secured with a mortgage.
  • EstateGuru is a facilitator of real investments, we do not offer the management of assets. All investment contracts are signed between the borrower and the investor, EstateGuru simply facilitates this transaction. All client funds are separated from EstateGuru’s operational funds. Should EstateGuru suffer financial difficulties or go bankrupt, client funds are safe and can still be accessed. In such an unlikely event, a contractual entity will be appointed to take over the role of EstateGuru to serve all the investments.
  • The Estonian Financial Conduct Authority (FCA) has confirmed in 2014 that any laws or regulations that apply to credit institutions or to broker-dealers do not apply to us as EstateGuru is not a finance provider but a facilitator. The FCA expected to release a new marketplace lending specific regulation in 2017.
  • EstateGuru is not a bank, thus we do not fall under the scope of banking laws and regulations. Like with most forms of investing, peer-to-peer lending carries a degree of risk. We reduce this risk to our investors by conducting thorough due diligence and by taking asset security on every loan, in case the borrower is unable to repay their loan. EstateGuru does not guarantee your loans.
  • After the credit crunch and the resultant recession, the risk appetite of banks was reduced significantly, which means that banks have tightened their lending criteria. Banks have strict criteria, which is not borrower friendly and thus many loan applications are rejected by banks. EstateGuru is a small and flexible organization which is willing to help companies that are denied financing by banks despite their strong business plan and solid collateral.
  • An unsecured loan is a loan which does not have any collateral in place, such as land or apartment, and is solely based on a borrower’s credit history and potential ability to repay. Secured loans have assets as collateral so that, if a borrower cannot repay the loan, EstateGuru's partnering law firm Jesse&Kalaus will start the asset sales process. Hereby, the risk of losing the money is minimized.
  • First you need to sign up as an investor on our platform. Then you need to visit your email account and activate your user account. Before you are allowed to start investing, you are required to send us an accurate copy of your government-issued identification document. Transfer money to your EstateGuru virtual account. Choose a loan you would like to invest in. All loan repayments and interest accrued is held on your EstateGuru account
  • No fees apply to investors. All expenses are covered by the borrower.
  • Yes. You need to create an investor account with your own name and in the end of the registration form, you have to choose “Select this if you represent a company”. Make sure to add the full name of your business and the correct registry code. Before investing you are required to send us an accurate copy of your government-issued identification document.
  • We do not pay interest on uninvested funds. To get the best return from using our platform you should invest your money into open projects to minimize uninvested funds. EstateGuru also has an Auto Invest function which will take care of your investments without you having to worry about it.
  • You will start earning interest after the required documentation and creation of pledge is completed.
  • As soon as the borrower is late in repaying an instalment, we will make contact on behalf of our investors to find out the reason behind the delay. In case of a delay, the borrower shall pay a fine specified in the general loan terms clauses 9 and 10. When the borrower faces financial difficulties, we will try to find the best solution for both parties. If the borrower is not able to repay the loan, the borrower will be given the option to take a repayment break. If the borrower is still unable to repay the loan, we will cooperate with the law firm Triniti, who will act towards recovering the debt.
  • In case the borrower wants to extend the loan period, EstateGuru will investigate the reasons and assess the situation accordingly. If the loan period is to be be extended, the borrower will be obliged to pay a fee to cover additional documentation expenses.
  • The aim of inspecting the borrower is to assess the company's ability to pay back the loan. We do a thorough investigation of the borrowers’ background, creditworthiness and current obligations. If applicable, the business plan and financial statements will also be investigated.
  • Yes, the interest rate paid by the borrower is fixed throughout the loan period. The payment frequency and interest rate can vary depending on the loan type.
  • The interest that you receive from borrowers is gross income, which means that EstateGuru does not deduct any tax from the amount. All interest earned from loans is treated by tax authorities as investment income and thus subject to income tax. Investors have the possibility to postpone paying the income tax by investing through a juridical entity, but will still be liable for tax. EstateGuru does not provide tax-related advice and recommend that you turn to a local tax advisor for additional information.