EstateGuru investors receive €13.5m in profit
EstateGuru’s investors have made a profit of €13.5m (£11.8m) in the first nine months of the year, according to data released by the platform.
The group said its investors have received a total of €107.5m back in payments over the period, with €46.6m in principal repayments and income coming in during the third quarter. This is an 80 per cent increase from the payments they received in the second quarter.
In the three months to the end of September, investor earnings reached €4.5m, with the average interest rate remaining stable at around 9 per cent. Project financing also increased during the period, with investors providing capital for 150 new real estate deals, with a total value of €26.8m, up 42 per cent quarter-on-quarter. Since the start of the year, investors have funded new projects worth over €80m.
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“We clearly see that our investors have significant funds ready for deployment, and are actively seeking new investment opportunities,” said Mihkel Stamm, chief executive of EstateGuru.
“We anticipate that the positive momentum will continue into Q4. This is bolstered by our expectation of comparable, if not greater, repayments from ongoing projects and a strong pipeline of new ventures on our platform. Overall we see that our business model remains strong during this year.”
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