A new investment opportunity “Dzirnavu Street II” with the annual return of 16% (+2%) will be launched soon on Bulkestate Real estate P2P platform. There is allready 156 people interested to invest in this project, so don`t miss this opportunity!
Start investing with Bulkestate from only 50 EUR
About Bulkestate
This is a crowdfunding and group buying platform that gives people opportunities to invest in real estate. The platform has been providing investment opportunities for a considerable period of time where so far more than 2000 investments have already been made. This clearly shows that the company has enough experience in this field. The platform combines both lending and group buying which makes it unique compared to other P2P platforms. Using the platform is free and as a result more people get an opportunity to invest in real estate.
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About Project
Our client, project company FPC SIA, is developing an upscale residential building on Dzirnavu 71, Riga. It is in the very centre of the Riga city with proximity to the city’s most popular business, commercial and entertainment areas.
The building will comprise of 8 economy size apartments and one two-bedroom apartment with an outdoor terrace, storage space for each apartment, two office spaces, and 4 parking spots. The building will have a total area of 868 square metres of which saleable area will comprise 698 square metres.
Loan target
While continuing the development process of the property, the owner is looking for the refinancing of the loan, after repaying a part of the interest payment for the current loan.
Riga’s historical centre is protected by many international conventions on heritage protection and has been included in UNESCO’s world heritage list. This made it more difficult for the property developer to coordinate the development project and get it approved by the local municipality. Additionally, the developers needed to receive consent to carry out the project from all surrounding property owners.
At present, the developer has submitted a minimal composition construction project and has received an approval on the documentation and the visual plans for the building. The funding will be used to develop the technical construction project of the building, receive the construction permit, and begin the construction works.
Amount of the loan
The loan amount will comprise EUR 400 000 EUR.
Security
The loan is secured by all assets held by FPC SIA. The future value of the property after completion of the construction is EUR 1,141,000 (35% FLTV). The loan will be secured by the guarantee from the owner of the company and the property has full insurance for the entire loan term.
The borrower
FPC SIA is a project company, which is controlled and managed by an experienced real estate developer with a focus on residential projects.
Repayment schedule
Loan and accrued interest will be paid within 12 months.
*Bulkestate incentive payment
For this project Bulkestate offers the following special incentive pay for investors by sharing part of its fee received from the client:
- Investors making EUR 10,000 or larger investment will receive 1% incentive payment from the invested amount, while
- Investors making EUR 25,000 or larger investment will receive 2% incentive payment from the invested amount.
