Europe is going gray - the population is aging at an unprecedented rate that creates alarm for cash-strapped governments and attracts new opportunities for investors.
The demographics alone support the growing need for care and housing for seniors.
Senior housing is increasingly recognized as a critical part of population health management and health care cost containment.
More than ever, investors are looking beyond the traditional real estate asset classes, such as residential or office, favoring alternatives like senior and student housing. Those investments might at first glance appear niche, but they can, in fact, prove lucrative and are increasingly mainstream. Residential sectors such as senior living and co-living are gaining traction in the whole of Europe.
Investment in senior housing includes the diversification benefits it offers to a portfolio because the sector has a “needs-based” demand characteristic.
CROWDESTOR is launching the fundraising campaign for Senior House “VITRUPE” - a privately owned senior care facility.
This is an opportunity to invest in senior wellbeing and make a profit of 22% p.a. The total funding target in this round is EUR 70 000.
The funds will be used to finance the company to purchase and reconstruct a building located in Riga Vitrupes str. 3 and turn it into a modern Senior House.
The main building's total area is 1 071.6 m², and after reconstruction, it will be 1 183.0 m². It is expected that the facility will be commissioned by the end of 2021.
This is the first stage of fundraising. Further funds will be collected once / twice a month until the end of this year until the facility is commissioned.
|Minimum target:||EUR 20 000|
|Maximum target:||EUR 70 000|
|Loan period:||12 months|
|Interest rate:||22% p.a.|
|Repayment:||Interest and principal in full at the end of the Loan Term|
|Collateral:||The first-hand mortgage on real estate Riga, Vitrupes Street 3, after the purchase deal is completed.|
|CROWDESTOR provision fund:||Yes|
Remember - interest rate payments start calculating from the day you make your investment!
The funds will be used to purchase and reconstruct a complex of buildings located in Riga's Jaunmilgravis district. Existing buildings will be turned into the Senior House "VITRUPE." The building is expected to be commissioned by the end of 2021.
Senior housing will meet all the modern requirements and be suitable for an aging population's needs. It ranges from independent living to 24-hour care, including daily medical examinations and wellness procedures by qualified doctors. There is an emphasis on safety, accessibility, adaptability, and senior housing longevity that many conventional housing options may lack.
Senior House "VITRUPE" will be located on the land plot of 5 181 m² and will occupy the premises of 1 269.8m².
The main Senior House building with 107 beds - 1 183.0 m². The Senior House will have 22 double rooms and 21 triple rooms. The interior will be as close as possible to the home environment: comfortable furniture, TV, radio.
Catering building/cafe - 86.8 m² that will be leased in the long term to the catering company for 8 EUR / m² + VAT.
In Latvia, monthly costs for living in privately or state-owned senior care facilities vary from 400 EUR - 1 500 EUR.
The price for accommodation in Senior House "VITRUPE" will be 860 EUR - 920 EUR per month (incl. VAT - 12%), which includes:
The object is located in Jaunmilgravis -12 km from the Riga city center. Good public transport infrastructure - tram, bus, and minibus networks.
|The Land plot total area||5 181.0 m²|
|Administrative building||1 071.6 m²|
|Administrative building after reconstruction - senior house with 107 beds||1 183.0 m²|
|Useful area/room area||
|Boilerhouse after reconstruction - kitchen/cafe||86.8 m²|
|Cadaster No. of the property||0100 0680 164|
The property is free of the following encumbrances: lease agreements, mortgages, pledge marks, debts, or other encumbrances which have the effect of extinguishing property right.
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