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Miera street - finishing stage of construction works

Need:31 099.00€
Interest rate:22%
Period:9 months
Target: 50 000€
Opens: 2021/04/30
Expires: 2021/05/30
Type: Specialized
Location: Latvia
Investors: 145

SUMMARY

CROWDESTOR is announcing a new investment opportunity: Miera street - finishing stage of construction works

The current opportunity offers CROWDESTOR investors fund the finishing stage of the Miera Street project. The term of the loan is 9 months and the interest rate is 22% p.a. The interest and the loan principal are paid in a bullet payment at the end of the Loan Term. The financing target for this round is 50 000 EUR. 

The funding raised in this round will be used to finish the last stage of construction works. The construction will be finished in 4 months. 

All the previous rounds of the Miera Street project have been refinanced by the EstateGuru platform. In order to finish the reconstruction works and put the apartments on sale, an additional investment of 310 000 EUR is necessary. CROWDESTOR has received an indicative offer to fund ⅔ of the reconstruction costs from EstateGuru, the remaining ⅓ to be raised on the CROWDESTOR platform.  

The property consists of 3 buildings with a total premises area of 1354 m2 in a historical and artistic district of Riga, Latvia. The apartments will be sold, while the office space will be available for rent. 

SIA CROWDESTOR INVESTMENTS acts as a borrower for this project. SIA CROWDESTOR INVESTMENTS owns 100% of SIA CR-1, which is the actual owner of the Miera 21 property. 

LOAN

Maximum target: 50 000 EUR
Loan period: 9 months
Interest rate: 22% p.a.
CROWDESTOR Provision fund:  Yes
Repayment:

The interest and the loan principal are paid in a bullet payment at the end of the Loan Term.

Security: A guarantee from SIA CROWDESTOR INVESTMENTS.
Location: Latvia

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

Investment opportunity Miera Street 1

Investment opportunity Miera Street 2

Investment opportunity Miera Street 3

Investment opportunity Miera Street 4

THE PROJECT

  • Project: Miera Residence
  • Object: Historical apartment and office space building on Miera street 21
  • The buildings 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 buildings:

  • 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 apartments and office space are not usable without additional investment in the renovation and replacement of the utility equipment.

Preferred type of use:

The concept of Miera Residence consists of selling the apartments and offering office space for rent. 

MIERA STREET

Investment opportunity Miera Street 5

The property is located on Miera street admired by locals and tourists alike. This part of Riga is called the Distant Centre. Most of the architecture represents the 19th and the first half of 20th century. 

Miera Street is known as a hip and artistic place as a lot of young creatives choose to live here. It also hosts a number of independent cafes, bars, shops and breweries. Miera Street's atmosphere helps to socialize and meet new people as concerts, festivals and other cultural events are very common in this part of the city. 

There are also some objects of general importance nearby, including the following:

  • Laima Chocolate Factory
  • Faculty of Chemistry of the University of Latvia
  • Riga 1st hospital
  • Vidzeme Farmers' Market
  • Dailes Theatre
  • New Riga Theatre

Miera Street is well-connected with the rest of the city by public transportation trams, buses, trams and trolleybuses are available and a walk to nearest stop should not take more than 5 minutes. The driveways are in good condition. The flow of pedestrians is relatively small, mostly calm. 

Investment opportunity Miera Street 6

In general, the location of the property is considered to be very good - one of the most popular among the young people.

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