• The funds will be used for real estate development;
• The mortgaged property is attractive from a residential point of view due to its proximity to recreational areas (walking and cycling trails, a stream) and the environment is dominated by higher-priced detached residential buildings;
• Developer has extensive experience in real estate;
• The project owner has already invested EUR 480 000 of his own money.

About the project owner:
The project owner has experience in real estate. Has developed various real estate projects with a total area of approximately 5 743 sq. m.

Project objective:
The developer will mobilise a sum of money for the conversion of a 1 554.70 sq. m building - a school - into flats, for which a building permit has already been obtained. The plan is to provide 25 apartments with balconies. The total floor area of the planned apartment building is 1 853 sq. m. The owner of the project intends to furnish the apartments in a modern way with all appliances and furniture, as well as complete landscaping. Once these works are completed, the apartments will be sold. Notarial transactions are expected to start in June 2024. In addition, 20 preliminary sales contracts have already been signed. The estimated sales revenue is EUR 2 200 000. The loan will be repaid from the proceeds of sales.

Project progress:
The following works have been carried out with the funds pooled in the last phases: all utility connections to the apartments have been fully installed, underfloor heating has been installed, staircases have been shaped, and armoured doors have been installed. The swimming pool is operational and the foundations are ready for paving. Further development works are planned with the funds mobilised for this phase. 

The maximum planned amount of financing for the Project: EUR 554 000 (EUR 474 500 already raised). he project is financed on the basis of the current valuation of the collateral until it reaches the established maximum loan-to-value ratio of 70% LTV. Once the maximum LTV has been reached, a new valuation of the property will have to be carried out and further rounds of financing for the Project will only be advertised and collected if the set maximum LTV is not exceeded.

Interest by investment amount:
– From 100 EUR to 249 EUR – 10.90%
– From 250 EUR to 499 EUR – 11.20%
– From 500 EUR to 999 EUR – 11.50%
– From 1 000 EUR to 1 999 EUR – 11.70%
– From 2 000 EUR – 11.90%
Important: Individual investments are not aggregated and cannot be combined.

We plan to raise the amount within 7 days, with the possibility of extending it to 21 days in the event of non-collection.