Update from the originator:
Please be informed that the information about your loan in which you have invested is changing:
The amount of funding is reduced to 174 000 Eur (the previous amount is 245 000 Eur). The collected amount of 71 000 Eur will be returned to investors (partial return - each investor will be given back a part of the investment). The borrower sells 4 plots, which reduces the amount of the loan, the value of the mortgaged property and LTV.
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Macro Location Analysis
EvoEstate Risk rating is of an informative nature only & can not be considered investment advice.
Loan To value
Funding requires an amount of € 245 000, which can be split into two stages and the funds raised for funding will be used to meet contractual obligations on the current creditor, as well as for increasing company capital. This decision will give the borrower time to sell the assets under current market price, meet existing obligations and complete preparations for the sale of the assets.
Company title OU Erel trading group
Company website http://www.leonardogolf.ee/
Erel Trading Group LTD, engaged in real estate contracting, purchasing, sales and development. Registred capital 0,6 mln EUR. Shareholders AS Erel group (396 000 capital ownership), Faustini Europe SA (60 000 EUR capital ownership), osauhing Alminger (24 000 EUR capital ownership), OU Drevor investments (120 000 EUR capital ownership). Currently company is developing real estate projects, some of them are on sale. Company is specialized in residential real estate development (apartments, villas, etc). Company's total assets over 6 million EUR, equity ratio is more than 35%. Real estate selling price is approx. 1 800 - 2 100 EUR with VAT.
Value of mortgaged property: € 491 000
About Leonardo Golf Village, the location of the property:
The Leonardo Golf Village is a one of a kind project in Pärnu. It consists of 10 apartment buildings and 69 private houses. It is located in a rapidly developing area and constitutes one of the most notable new developments in Pärnu. Everything you need for life is at your fingertips. The Leonardo Golf Village offers the solution for a new lifestyle, a unique location in the midst of greenery and quite; bus stop 50 m, kindergarten and supermarket 300 m, golf track and beach 500m.