Estonia’s biggest crowdfunded project – 1 000 000 euros funded in 48 hours

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Crowdestate opened 47B Lofts project’s funding campaign in the middle of last week. The 1 million euro funding goal was reach just in two days.

The significant amount brought together 761 investors, which is the largest amount of investors in Estonia to invest into single project.

„ Experienced developer and strong project are key features valued by investors. Endover is one of the best-known real estate developers and we have successfully funded their several previous projects. The quick funding of this investment opportunity is partially based on the revious good experience with this developer“ said Loit Linnupõld, CEO of Crowdestate.

Crowdestate has previously funded four Endover’s projects: Lõokese 5, Heina 5, Toompuiestee 13 and Raua 13.

Tööstuse 47B investors will receive 13.5% fixed net return per annum. The average investment was 1.325 euros per participant, the smallest amount was 100 euros and largest 20.900 euros. Investors from 12 different countries participated in the funding campaign.

Tööstuse 47B is a 6-storey residential development with commercial spaces on the first floor. The building is inspired by the New York style lofts. The apartments will feature high ceilings, large windows, roof terrasses and a selection of modern finishing materials for the interior. The higher floors will have views to the sea, downtown and the Tallinn Old town. Construction has already been started and the building will be completed at the beginning of 2017.

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