Irbenes Street III

 Refinancing
Riga, Latvia
Status
Done
40 000 € (100%)
40 000 €
252 investor(s)
Term: 12 months
Interest payment schedule: At Project Completion
14%
Annual yield
69%
LTV
First
Mortgage rank
No
EVOEstate skin in the game

Bulkestate description

Investment object

The property is located in Riga, Ziepniekkalns, Irbenes Street 5F. The property is located only 7 km from the Riga city centre in the area with well-developed infrastructure.

The surrounding buildings are made up of individual and multi-apartment buildings. Ziepniekkalns has access to the infrastructure needed for a residential area - schools, kindergartens, shops, medical institutions. A public transport stop is located 200 meters from the property. It has a fast connection to the main spots of the Riga city.

The goal of the loan

The borrower (SIA "Renova Baltic", Reg. no. 40203160240) is looking to extend a previous loan on the Bulkestate platform for the sale period of the apartments. Loan and interest will be repaid by funds received from the sale of the property units.

Amount of the loan

40 000 EUR, which is 69% of the current value of the property.

 

Independent valuation of the property

57 800 EUR

Security

  • First rank mortgage.
  • Member of the Board of the Borrower is providing a personal guarantee in full mortgage amount.

Repayment term

12 months

Investment repayment

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.

Project provided by:
Status
Done
40 000 € (100%)
40 000 €
252 investor(s)
Term: 12 months
Interest payment schedule: At Project Completion
14%
Annual yield
69%
LTV
First
Mortgage rank
No
EVOEstate skin in the game