Miera street - foundation strengthening, insulation works, hydroisolation | Round 06
100% Funded

100%
100%
Need:0.00€
Min.:0.00€
Interest rate:22%
Period:6 months
Target: 65 000€
Min. target: 10 000€
Opens: 2020/12/18
Expires: 2021/01/18
Type: Real Estate
Location: Riga, Latvia
Investors: 454

Summary

The current investment opportunity offers CROWDESTOR investors to make a secured loan investment to the developer of the project Miera Residence. The property consists of 3 buildings with a total premises area of 1354 m2 in a historical and artistic district of Riga city - Miera street 21.

Funding raised in this campaign will be used to complete the roof repair, complete the foundation strengthening, insulation works, hydro isolation, maintenance of the rainwater sewerage system, etc. Those renovation and preservation and conservation works are essential to avoid a reduction of the value in the following months due to the winter weather conditions. After this fundraising round, in the following 3-4 weeks, the late Loans are expected to be refinanced. The current loan will be subordinated to the senior lender which will refinance the loans in previous rounds. 

Current investment opportunity offers CROWDESTOR investors to make a loan with a 22% annual interest rate.  The minimum target to be raised in the CROWDESTOR platform is EUR 10 000,00 and the maximum target is EUR 65 000,00.

Project is developed by SIA “CR 1”, an SPV registered for current asset development, a group company of CROWDESTOR OU.

Loan

Minimum target: 10 000.00EUR
Maximum target: 65 000,00 EUR
Loan period: 6 months
Interest rate: 22% p.a.
CROWDESTOR Provision fund:  Yes
Repayment:

Interest and the Loan principal payment at the end of the Loan term.

Collateral: The loan is secured by a guarantee of the borrower company and shares of borrower will be pledged  (Miera Street 21, Riga)
Location: Latvia

Remember - interest rate payments start calculating from the day you make your investment!


The Project

Project: Miera Residence

Object: Historical 13 apartment and office space building in Miera street 21

The building's total area: 1354 m2
The Land plot total area 1374 m2
Cadaster No. of the property 01000230071
Registry Folio No. of the land plot 31231

The building, total area:
Residential building (0100 023 0071 001) with a total area of 245,1 m2;
Residential building (0100 023 0071 002) with a total area of 497,7 m2;
Residential building (0100 023 0071 003) with a total area of 611,77 m2.

Current status and type of use:
The object consists of three residential buildings on a medium area land plot. The property is empty and not used for now. The apartments and office spaces are not usable without additional investments in the restoration and replacement of the utility equipment.

Preferred type of use:
The concept of Miera Residence consists of offering a part of the building to short-term rent on Airbnb, other parts will be available for the acquisition of apartments, and the third part will be used as an office space.

The assessment facility is located in the city part of Riga – the distant Centre, a block consisting of Miera, Annas, Aristida Briāna, and Palīdzības streets. The surroundings consist of multi-apartment buildings and local infrastructure facilities built at the end of the 19th century and at the beginning of the 20th century. In this block, there are buildings of both residential and public nature, with small commercial spaces on the first floor of the building. Exactly over the street of the valuation facility is located Latvia's famous chocolate factory ''Laima''. In the near distance there are important buildings like LU Faculty of Chemistry, recently renovated Riga 1st Hospital, Dailes Theatre, Vidzeme Farmers' Market, the office, and shop quarter 'Aloja'.

Over the past years, Miera Street has bloomed into this artsy, full of cozy, atmospheric places to go to. You will be able to find several cafe shops, little shops full of individuality. For example, the cafe ''Taka'' offers a wide range of Latvian beer, cafe ''Mierā'' will leave you addicted to their baked cakes. You can find many Latvian design shops on Miera Street including music bars and art, book shops. Further on Miera Street is the location of the New Riga Theatre.

This street is full of culture and many events connecting the subject - festivals, concerts, smaller gigs, etc.  Miera Street's atmosphere helps to socialize and meet many people to connect with. In A. Briāna street quarter are found many clubs and bars as ''Piens'', ''One One'' and ''Nemiers'' but beer brewery ''Labietis'' will surprise you with different tastes of beer.

Public transport is traveling by Brīvības street (only 3 minutes by walking) which is one of the main streets if not the Main Street of the Riga city Centre, with a very high flow of transport. The movement of public transport to the Centre of Riga is provided by a route tram 11 - it drives by many times during the day which allows connecting with the rest of Riga in just a few seconds because the tram stop is just 100 meters away from the apartment building. The driveways are covered with asphalt and are in good condition. The flow of pedestrians is relatively small, mostly calm - it consists of the surrounding population of many young ones, artists, and of those working in the surrounding blocks. Public transport security is good. In general, the location of the building in the city of Riga is considered to be very good, one of the top places for young, alternative people to wish to live in.

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