Apartment Pae st., Tallinn
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- The funds will be used for the renovation of 2 apartments in Tallinn and for the company’s working capital;
- The property to be developed is located in a liquid, renovated panel house, with fully developed social and engineering infrastructure in the surrounding area;
- The developer has experience in apartment conversion and renovation projects in Tallinn and has developed 1 500 square metres of real estate projects with more than 80 apartments.
About the project owner:
The director of the company has more than 10 years of experience in buying, renovating and managing apartment rentals in Tallinn. Ivar Holding OÜ owns 50% of Onkar Invest OÜ (and 50% of Orkerena Invest OÜ), and Onkar Invest OÜ has a portfolio of 32 apartments for rent in Tallinn. The owner of the project is also the sole shareholder of Progressive Invest OÜ, which has a portfolio of 47 rental apartments in Tallinn. In total, Onkar Invest OÜ and Progressive Invest OÜ have a portfolio of 79 apartments.
About the project:
The project owner intends to renovate two apartments on Pae and Tatari streets in Tallinn. The plan is to use about 20% of the loan amount for the renovation of the 2 apartments and to keep 80% of the loan amount as working capital of the company in order to be able to buy a new apartment when the opportunity arises. The apartments to be renovated are to be furnished with full finishing and furniture. The developer will also purchase another apartment with Progressive Invest OÜ. The owner’s long-term plan is to buy the apartment from Progressive Invest OÜ, obtain long-term bank financing and have a one-owner property portfolio. This loan will be refinanced by the project owner in the bank and the interest will be paid to the investors from the rental income of other properties.
Interest by investment amount:
– From EUR 100 to EUR 999 – 7.9%
– From EUR 1 000 to EUR 1 999 – 8.65%
– From EUR 2 000 to EUR 4 999 – 8.9%
– From EUR 5 000 – 9.4%
Important: investments made separately are not aggregated and cannot be pooled.
We plan to raise the amount within 7 days, with the option of extending it to 21 days if we do not raise funds.
