CROWDESTOR is announcing a new investment opportunity: Miera street - finishing stage of construction works | Round 02
The current opportunity offers CROWDESTOR investors fund the finishing stage of the Miera Street project. The loan term 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 40 000 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 260 000 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.
|Maximum target:||40 000 EUR|
|Loan period:||9 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.|
|Security:||A guarantee from SIA CROWDESTOR INVESTMENTS.|
Remember - interest rate payments start calculating from the day you make your investment!
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.
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 the 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:
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 the nearest stop should not take more than 5 minutes. The driveways are in good condition. The flow of pedestrians is relatively small, mostly calm.
In general, the location of the property is considered to be very good - one of the most popular among young people.
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