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Kaleju 57 | Finishing of construction works and sale of apartments | Round 02.
100% Funded

100%
Need:0.00€
Interest rate:22%
Period:6 months
Target: 28 187€
Opens: 2021/06/08
Expires: 2021/07/08
Type: Real Estate
Location: Latvia
Investments: 278

SUMMARY

CROWDESTOR is announcing a new investment opportunity: Kaleju 57 – finishing of construction works and sale of apartments | Round 02

The current opportunity offers CROWDESTOR investors to fund the final renovation stage of the Kaleju 57 property. A part of the raised funds will compensate for the late interest payments from the previous rounds. The loan term is 6 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 40 000 EUR. 

In order to finish the construction, an additional investment of 240 000 EUR is necessary. Advance payments for the sold apartments will cover a substantial part of it. The apartments are currently available for purchase and several contracts are already being signed.

The project is expected to be finalized within the next 3-4 months.  

LOAN

Maximum target: 40 000 EUR
Loan period: 6 months
Interest rate: 22% p.a.
Repayment: The interest and the loan principal are paid in a bullet payment at the end of the Loan Term.
Collateral: The loan is secured by a guarantee of the borrower company and a pledge on real estate (Kaleju street 57, Riga)
Location: Latvia

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

THE PROJECT

  • Project: Kaleju Apartments 
  • Object: Residential building with separate apartment properties with ideal shares of buildings and land.
  • Address of the property: Riga, Kaleju 57 
  • Cadaster No. of the property: 0100 003 0167 
  • Land registry folio No. of the property: 28870 
  • Land plot: 220 m2 
  • Building, total area: Residential building (0100 003 0167 001) with a total area of 972.3 m2
  • Current type of use: Residential building on a 220 m2 land plot. The building is used as a residential rental house. A few apartments are not usable without additional investments in the restoration. 
  • The best type of use: Residential and short-term Airbnb/Booking rental house. 

Kaleju 57 Investment Opportunity

Kaleju 57 Investment Opportunity

The Old Town

The object is located in the Old Town - the historical center of Riga. It is acknowledged as a UNESCO heritage and admired by tourists and locals. 

The medieval and later-period urban planning structure of the Historic Centre of Riga, as well as the quantity and quality of Art Nouveau architecture, which is unparalleled anywhere in the world, and the 19th century wooden architecture make it of Outstanding Universal Value. The Historic Centre of Riga has the finest concentration of Art Nouveau architecture in the world.” - UNESCO. 

The Old Town plays a major role in modern Riga city life. It is the financial and commercial center and home to several government institutions. In the evenings, the Old Town becomes the place for dining and recreation as lots of popular restaurants, bars and cafes occupy the first flours of beautiful historic buildings. The nearby Daugava embankment offers walks and bicycle rides with a great view. The Famous Riga Central Market is a 10-minute walk away, as well as several cultural institutions, including the Latvian National Opera. 

The Old Town is well-connected to the city public transport infrastructure, however, parking inside is limited. International bus and train stations are 10-15 walk away and a taxi ride to the Riga International Airport takes about 20 minutes. 

In general, the Old Town is considered the best location in Riga and the real-estate prices are among the highest in Latvia. 

 

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