The biggest risk and main reason why it is not skin-in-the-game project is that the land does not have construction permit and there is a probability that developer might never get it.
The object of the loan is a newly designed and designed apartment building (photos No.1, 2, 3, 4) at Paupio str. 33, Užupis, Vilnius, which is in need of financing - to finance the project and the construction of the newly planned building, with a secondary mortgage.
The existing 7.3-acre site features a 4-storey residential building with an attic and 15 underground parking spaces, with 17 newly and modernly designed residential flats and 4 commercial spaces. Residential flats and premises are designed to meet the needs of the majority and are in demand in the market and Užupis area. The location of the project is very attractive, the windows of the planned apartments are oriented slightly further from the main street, so the environment is quiet and cozy.
GENERAL PROJECT INFORMATION
- Land plot - purpose of single and double dwelling houses;
- Land area 0.0732 hectares;
- Residential buildings with a total area of 158.69 sq.m (building - dwelling 84.97 sqm and building - dwelling house 73.72 sq.m);
- Total area of new project, future residential building, living space - 1585.09 sq.m, number of apartments - 17, number of commercial premises - 4, number of floors - 4;
The goal of the loan is to raise 165,000 EUR. The minimum amount required by the borrower is 110,000 EUR (one hundred ten thousand euros)
Loan term is 12 months.
Annual loan return on investment from 13%
Exceptional Investment Terms!
Invest from 100 € and your return on investment will be: 13%
Invest from 2,500 € and your return on investment will be: 13.5%
Invest from 5,000 € and your return on investment will be: 14%
Invest from 10,000 € and your return on investment will be: 14.5%
While investing from 2500 €, please contact us by email: firstname.lastname@example.org
Project annual return on investment from 13%
Secondary mortgage LTV (loan-to-value) ratio 47%. (Nordstreet primary mortgage holder, LTV ratio of primary mortgage is 26%)
The loan would be mortgaged real estate - land owned by one-story and two-story residential buildings and two residential buildings with a total value of EUR 782,000 (seven hundred and eighty-two thousand euros). For more information, see the attached evaluation ("Documents" section)
Interest on the loan is calculated from the end date of the auction and is paid monthly.
The loan is repaid by the end of the project term through the sale of residential flats, income from the company or refinancing the loan.
Project developer - UAB "Pirmas kartas", whose owners and administration are engaged in real estate development, project management administration and sales processes, specializing in renovation of residential properties and buildings. The company's shareholders and executives have developed a number of well-known projects:
1. Burbiškių kalva/Venecija LT
2. Consolidated land Rinktinės str. (later were sold to MERKO)
3. Smėlio str. project with EIKA (in development)
4. Project Management Consulting on Radisson Hotel project development .
|09.09.2019||Paid||No||06 September 2019, 22:50|
|09.10.2019||Paid||No||03 October 2019, 18:32|