Estonian peer to peer lending platform Bulkestate is launching a new offer - investing in renovation works in Riga real estate located on Miera street and promising annual returns of up to 14+1%*
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For this project Bulkestate offers the following special incentive pay (cash-back) for investors by sharing part of its fee received from the client:
- Investors making EUR 10,000 or larger investments will receive a 1% incentive payment from the invested amount.
The property consists of two apartments with a total area of 161 sq.m, located only a 5-minute drive from the Riga centre.
The building is located in a district that is very popular among inhabitants of Riga. Miera Street is home to shopkeepers, publicans, gallery-owners, writers and stylish shops and cafés, thus becoming one of the most attractive residential districts in Riga.
The loan will be used to renovate the apartment that will be put up for sales after completing the renovation works.
This equity loan (a mezzanine loan) is not secured directly by a mortgage on the property which is financed by the loan but by collateral and personal guarantee provided by the borrower. Equity loans can be subordinated to the more senior lender such as a bank which has a first rank mortgage on the property. The term equity loan is used as these loans usually provide the capital which fills the gap between funds provided by the equity investors and senior bank loan.
Amount of the loan
200 000 EUR
Independent valuation of the property
374 000 EUR
Bulkestate OU is a real estate crowdfunding platform with a focus on funding new development or re-development projects as well as structuring group buying deals to acquire small size (such as one apartment) real estate at wholesale prices (sales price of an entire building).