|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
We present the second stage of the phased financing project - "Naujakuriu daugiabutis Kaune". The amount to be raised at this stage is EUR 38 000. This loan will be covered from the company's operating income and real estate sales.
The project owner has experience in real estate development. Has implemented 4 different construction projects with a total area of 4 700 square meters.
The aim of the project:
The project owner plans to build two apartment buildings with a total area of 2 247.5 square meters with a planned closed parking lot. The apartment buildings will have apartments of 50-75 square meters. One apartment building will consist of 18 apartments, the other - 15. The apartments are planned to be sold with partial finishing. Revenue from the sale of all apartments will amount to EUR 4 200 000.
Progress of the project:
The funds of the first stage were used by the project owner to refinance the existing loan, to arrange the building permit documents.
To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors a plot of land with an area of 33.80 ares is pledged at Naujakuriu st. 118, Kaunas. According to an independent real estate appraiser of UAB "Ober-Haus", the value of real estate pledged to investors is EUR 600 000.
Maximum planned amount of funding for the project: EUR 1 400 000. The project is funded based on the current mortgage valuation until it reaches the maximum LTV set. When maximum LTV is reached, a new valuation of the property will be required and further project funding stages will be announced and collected only if the maximum LTV set is not exceeded. LTV at this stage - 25%.
Interest by investment amount:
- From 100 EUR to 999 EUR – 8%
- From 1 000 EUR to 2 999 EUR – 8,5%
- From 3 000 EUR – 9%
Important: investments made separately are not aggregated.
We plan to raise the amount within 7 days, with the option of extending it to 21 days if we do not raise funds.
|Title of the project||Type of asset||Address of the project||Purpose and area of the parcel of land|
|Naujakuriu daugiabutis Kaune II||Residential||Naujakuriu st. 118, Kaunas||Territories of multi-apartment residential buildings and dormitories (0.3380 ha)|
|Year of construction of the object of the project||Area of the object (building)|
|Number of floors in the object (building)||Duration of repair/construction||Description of the site of the project|
|3||18 months.||The project is being developed in Kaunas. The area is dominated by new and old apartment buildings, detached houses, cottages and several undeveloped plots of land. The property under assessment is located at the intersection of Prusu and Naujakuriu streets. The nearest supermarkets are at a similar distance from the appraised property: Norfa, IKI, Rimi. The nearest educational institution and the nearest kindergarten - Vila Vilaite. The nearest public transport stop is next to the plot. From the assessed property there is an excellent connection to Kaunas city center and other districts by both public and private transport.|
To secure the interests of investors a plot of land with an area of 33.80 ares is pledged at Naujakuriu st. 118, Kaunas.
Assets pledged to investors during this and previous funding stages will also be used to secure the obligations of the project owner in the next (additional) stages of financing, provided that the project owner raises the value of the pledged property to a maximum LTV of 70%. Investors of all stages will be pledged with a primary mortgage.
When investing into this project, during the subsequent funding stages, the invested funds will be repaid to investors only after settlement with the investors who have invested in the previous funding stages. This condition does not affect the seniority of the investor’s right to the collateral, the overall ratio of the collateral to the amount of the investment. This provision will also not apply in the event of termination of the loan agreement.
Investors of all stages will be pledged with a primary mortgage.
Naujakuriu st. 118, Kaunas
|Address of the pledged asset||Unique number of the pledged asset||Independent assessor||Value of the pledged asset by independent assessment|
|Naujakuriu st. 118, Kaunas||4400-5040-5357||UAB "OBER-HAUS"||600 000 €|
|Type||Investment purpose||Requested amount to be funded||Investment period*|
|Business loan with RE collateral||Development loan||38 000 €||18 month|
|LTV||Time remaining||Investment repayment form||Frequency of payment of interest|
|25% (max. 70%)||7 days||At the end of the period||Once per quarter|
|Source of payment of interest||Annual interest rate|
|Company operating income and real estate sales.||8-9%|
|*Note. The project owner can repay part or all of the loan earlier, but the co-paid interest must be at least 3 months.|
|Type||Title of the company||Company code||Start date of the activity|
|Legal entity||UAB „Stadena“||303170128||2013-10-18|