Estonian peer to peer lending platform Bulkestate is launching a new offer - refinance the current loan of the borrower for a popular recreational complex "Trīssaliņas" located in Smiltene county, Grundzāle county in Vidzeme, Latvia
Investors are lured in with promising 13% annual yield
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The mortgage object is located in the Smiltene district, Grundzāle parish. The total area of the property is 41 ha and it consists of a land plot with a sports and recreation complex of 18 separate buildings. “Trīssaliņas”, meaning three islands in Latvian, is located on three islands around a lake, providing a large range of recreational activities and a peaceful, close-to-nature environment all year round.
The complex is a highly popular destination for those who seek activities combined with the nature of Latvia countryside. The complex has received awards as one of the most beautiful resorts in the country and numerous appreciations from its customers.
The loan is intended to refinance the current loan of the borrower. While the borrower has repaid interest payments of the previous loan in full amount, only the principal amount of the loan is refinanced.
119 350 EUR
Independent valuation of the property
217 000 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).