Detail Descripton

Funding requires an amount of € 235 000, which can be split into 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.

Loan term and repayment

Loan period 14 mo.

Minimum loan period 2 mo.

Loan repayment At the end of the loan period

Estimated start date of the loan:*2021-12-28

Estimated loan repayment date:*2023-02-28

Debtor

Company title LTD Erel trading group

Company code 12216805

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.

Pledged property:

• 1,190 m2 size land plot at Loo tee 2, Pärnu, registration number 3927106.
• 1.252m2 size land plot at Loo tee 4, Pärnu, registration number 3927306.
• 1.304 m2 size land plot at Loo tee 6, Pärnu, registration number 3929406.
• 1,890 m2 size land plot at Loo tee 10, Pärnu, registration number 3929506.
• 1.617 m2 size land plot at Loo tee 11, Pärnu, registration number 3927406.
• 1,948 m2 size land plot at Loo tee 12, Pärn, Pärnu, registration number 3925506.
• 1.162 m2 size land plot at Niidu tee 12, Pärnu, registration number 3928206.
• 1,541 m2 size land plot at Elu tee 20, Pärnu, registration number 3927506.
• 1,661 m2 size land plot at Elu tee 24, Pärnu, Pärnu, registration number 3924606.
• 1,598 m2 size land plot at Elu tee 26, Pärnu, registration number 3924406.
• 1.468 m2 size land plot at Elu tee 28, Pärnu, registration number 3927706.
• 1,564 m2 size land plot at Elu tee 30, Pärnu, registration number 3925906.
• 2,052 m2 size land plot at Elu tee 32, Pärnu registration number 3928406.
• 0.940 m2 size land plot at Elu tee 36, Pärnu, registration number 3928506. 

Value of mortgaged property: € 473 000

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.