|Criteria||From a+ to d||Project rating|
Macro Location Analysis
EvoEstate Risk rating is of an informative nature only & can not be considered investment advice.
Loan To value
Purpose of the loan
The funding required for this phase is EUR 51 250, which will be used for development and construction works of the project. Work has already begun on the buildings with existing permit issued. The loan will be repaid from the proceeds of the sale of the property or by refinancing at another financial institution.
About the project
Currently 30 houses are being designed, each with an area of 100 m2. The company has already invested up to 400 TEUR in the company's own funds. The raised funds will be used to finance construction works, as the materials have been purchased in advance. Reservations are already in progress. More about the project https://j7.lt/. ”
Company title LTD Ritata
Company code 305697467
Company website https://j7.lt/
UAB "Ritata" engaged in real estate development in Monciškių, Latgalių and Baltų streets in Palanga. In 2021Y balance sheet assets amounted to 1.8 million EUR based on the submitted financial statements of 2021 IIIQ, including fixed assets of 0.4 million EUR, current assets 1.49 million EUR, equity 46 TEUR, sales 198 TEUR, net profit 35 TEUR.
Second real estate mortgage on existing real estate (land under development). The loan will be repaid upon sale of the company's development assets, from the company's profits or after refinancing the loan. It should be noted that houses that have not been appraised have already been started and are under construction, so it is likely that the total value will be much higher after the registration of the buildings and the appraisal.
The first order of real estate pledge - mortgage is also secured on the Nordstreet platform, where a loan of EUR 102 500 was granted. The total amount of loans granted will not exceed EUR 153 750.
LTV: not more than 75% (of the pledged value of the land plots).
Pledged property: public recreation land with a total area of 1,0372 ha, located in Monciškių str. 41, Palanga City Municipality, Lithuania.
Value of pledged property: EUR 205 000
Between Palanga and Šventoji. The neighborhood is being developed in a quiet location, halfway between the major seaside resorts, making it a great place to appreciate privacy and tranquility without the added hustle and bustle of the city. Convenient location for bicycle trips to Palanga or Šventoji, asphalt road to the residential are and paved path to the door.
|09.01.2022||Paid||No||04 January 2022, 13:11|
|09.02.2022||Paid||No||08 February 2022, 22:10|
|09.03.2022||Paid||No||04 March 2022, 19:15|
|09.04.2022||Paid||No||07 April 2022, 11:32|
|09.05.2022||Paid||No||06 May 2022, 16:48|
|09.06.2022||Paid||No||08 June 2022, 12:58|
Posting questions to projects feature is disabled. Project updates about status of projects will be posted for all projects every Wednesday if the Originator of the project shares an update.
If for any of the reasons you can not wait for an update, consider trying to reach out to originator support directly.