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

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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

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