Vīlipa Street - 2nd stage

 Bridge loan
Riga,
Latvia
14%
Annual yield
65%
LTV
Term: 12 months
Interest payment schedule:
At Project Completion

Descripton

Bulkestate description:

Object

The mortgaged property is located in Āgenskalns and consists of the land plot with a total area of 1432 sq.m. There are two building on the land plot - a wooden building with a total area of 789,8 sq.m, as well as masonry building with a total area of 1677,9 sq.m. The wooden building consists of 8 apartments, while the 4-story high masonry building has 18 apartments and 3 commercial premises. 

The property is located on the corner of the Botanical Garden in the area with well-developed infrastructure and only a 10-minute drive from the city centre and a 15-minute drive from Riga airport. The surrounding area is a mix of residential houses and light commercial facilities, educational institutions as well as the hip Kalnciems district – a unique 19th century's complex of wooden buildings, which is a weekly centre of farmer’s markets, concerts, street food festivals and other entertaining events.

The loan target

The second stage of the project provides funding for the renovation works and the surrounding territory. The cosmetic improvements will be carried out to prepare apartments for the sales process.

Amount of the loan

The loan amount will comprise EUR 140 000 EUR.

Independent valuation of the property

1 868 000 EUR - current value of the property 

 

Security

1st rank mortgage

Loan term

12  months

Repayment of the loan

The principal amount of the investment and the accrued interest will be paid out in a single payment at the end of the repayment term.

*Bulkestate incentive payment

For this project Bulkestate offers the following special incentive pay (cash-back) for investors:

  • Investors making EUR 10,000 or larger investment will receive 1% incentive payment from the invested amount.
Project originated by:

Documentation

14%
Annual yield
65%
LTV
Term: 12 months
Interest payment schedule:
At Project Completion