I invested in loan #2914 (Bridge Loan, Germany) in February 2021. After five years, I received €50.89 back on a €107 investment — a net return of -10.6%, with €70.76 written off.
What concerned me most was not the loss itself but the way the loan was structured and managed:
— The loan was marketed with an LTV of 27.8%. What was not clearly communicated is that €4.19 million in total was raised across multiple stages against the same property, making the real aggregate LTV significantly higher.
— The collateral valuation of €6.3M was based on a fully renovated, fully occupied building. The property was 100% vacant and unrefurbished at the time of the loan. It sold at auction in 2025 for €2.1M.
— Interest payments were months late with no early warning to investors. The loan was then extended and interest deferred, without investor input.
— No construction progress updates were ever provided, despite construction being the stated loan purpose.
— During the three-year recovery process, the property was partially stripped and damaged. No explanation of how this happened was provided.
— A personal guarantee covering 25% of the mortgage remains unrecovered.
I have filed a formal complaint with Finantsinspektsioon, the Estonian financial regulator that supervises Estateguru.
I would encourage anyone considering investing on this platform to carefully review how aggregate LTV is disclosed across loan stages, and what protections exist if a borrower stops cooperating.
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Estateguru is Europe’s leading real estate investment platform, offering property-backed loans to small and medium-sized businesses, while providing attractive returns for thousands of investors who fund these loans.
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To date, the platform has facilitated over 7,000 projects with a total funded volume exceeding €850 million. More than 160,000 investors from over 100 countries have joined the platform, with an average historical return of 10.17%.
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