Endover reimburses money to new development investors ahead of time - Endover

Endover reimburses money to new development investors ahead of time

Tallinn’s biggest residential real estate development company, Endover, has continued its positive tradition of reimbursing investments in new developments ahead of time: the money raised through crowdfunding for the Volta Lofts and R. Tobiase 3 developments has been paid back to investors even before residents have moved into the newly completed residential and commercial buildings.

 

Endover has reimbursed more than 1.5 million euros to crowdfunding platform Crowdestate investors ahead of time. More than a million euros of this amount was received by those who invested their own money in the development of the Volta Lofts in the highly sought-after seaside district of Kalamaja. A total of 400,000 euros was reimbursed to investors who put their money into the R. Tobiase 3 apartment building project in the heart of Kadriorg. Interest was also paid out on both developments, which amounted to 14.5% and 12.4%, respectively.

 

“Trust is the most important foundation you can have when working with someone, and it’s something Endover’s always valued very highly,” said Robert Laud, a member of the management board of Endover. “We’re in a strong position at the moment, and we’re constantly growing, so we want to offer our partners a convenient, stress-free investment environment. With that in mind, sticking to your promises goes without saying. It’s also why we want to show them we’re capable of reimbursing their investments ahead of time.”

Trust is the most important foundation you can have when working with someone, and it’s something Endover’s always valued very highly.

Robert Laud, Member of the management board of Endover

The investments in the Volta Lofts have been reimbursed, and the complex has been completed despite the fire that broke out in the historic factory building during construction of its modern residential and commercial premises last summer. Thanks to effective cooperation between the developer, the builder and the rescue services the building was able to be restored and its new homes handed over to their owners by the deadline. So far, 73% of the apartments in the Volta Lofts development – which is situated on one of the most sought-after pieces of land in Kalamaja – have been sold.

 

Endover has pioneered the use of crowdfunding on the Estonian real estate market to raise investments. Its partnership with Crowdestate began in 2015, and since that time it has financed 16 development projects via the platform. Of those, 13 have been completed and their investments reimbursed in full – both the base amount and the interest earned.

 

“Other developers have started using crowdfunding now as well, since it’s a quick and flexible extra way of raising money besides banks,” Laud explained. “It’s a useful alternative to have, and it gives us the chance to move ahead with our projects more quickly. As the biggest developer on the market we do everything we can to ensure a sense of trust and security for our investors, and in fact I can announce that very shortly we’ll be introducing a range of additional bonuses for investors as well.”

As the biggest developer on the market we do everything we can to ensure a sense of trust and security for our investors, and in fact I can announce that very shortly we’ll be introducing a range of additional bonuses for investors as well.

Robert Laud, Member of the management board of Endover

Endover currently has eight new developments in the active sales phase. Alongside the newly completed Volta Lofts, the most popular are the Klausson Candy Factory close to the Creative Hub in Kalamaja and the luxury Ambassador residence in the city centre (both of which recently went on sale), the Aurora Nova development with its spacious courtyard area in the greenest part of Haabersti (due for completion this summer), the Torn highrise in Kristiine (scheduled for completion in 2020) and the Vega development in Lasnamäe – the biggest apartment building in Estonia, offering residents a diverse range of added value.

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