Taikos pr. 116V, Dainavos seniūnija, Kaunas

 Development loan
Kaunas, Lithuania
Taikos pr. 116V, Dainavos seniūnija, Kaunas
Status
Done
76 000 € (100%)
76 000 €
Term: 18 months
Interest payment schedule: Monthly
11.5%
Annual yield
65%
LTV
First
Mortgage rank
No
EVOEstate skin in the game

EvoEstate description:

We are not investing into this project because, for these 2 reasons:
1. We have 1-2nd largest allocations in Nordstreet of all originaotrs.
2. Mortgaged property is a land (with a development licence).

Nordstreet description:

Object of the loan

The object of the loan is a newly designed storage building with administrative premises with a building permit, located at Taikos g.

The existing 20.31 acre site includes a newly designed 879 m2 storage building with administrative premises with building permit, which provides for the installation of newly and modernly prepared storage and administrative premises. The areas are designed to meet the needs of the majority and are in demand in the market and in the area. The location of the project is in the developing part of the area, so the building will be in an attractive location.

GENERAL PROJECT INFORMATION

- Land plot - industrial and warehousing site uses;

- Land area 0.2031 hectares;

- Total future storage and office building, 879 sq.m,

Loan Terms

  • Loan term: 18 months
  • Minimum loan term: 4 months
  • Collateral value: 116 000 €
  • LTV ratio: 65%
  • Project risk: B (medium)
  • Loan protection: first line mortgage

Interest

  • Investing from 100 € - interest 11.5%
  • Investing from 2500 € - interest 12%
  • Investing from 7500 € - interest 12,5%
  • Investing from € 15,000 - interest 13% 

Interest on the loan is calculated from the end date of the auction and is paid monthly.

Loan protection

The value of the existing real estate (land used for storage and storage areas) is 116,000 €.

Land plot - utility and storage purpose, building permit issued, target use - utility and storage areas,

  •      Address of the mortgaged property: Taikos pr. 116V, Dainava, Kaunas
  •      Valuable property: land,
  •      Property type: Land plot for monumental and warehousing purpose
  •      Collateral value: 116,000 €
  •      Documentation: Property Valuation
  •      Report preparation date: October 1st. 2019
  •      Appraiser: UAB Baltic Asset Valuation Agency
  •      Mortgage: A first line mortgage
Project originated by:
Status
Done
76 000 € (100%)
76 000 €
Term: 18 months
Interest payment schedule: Monthly
11.5%
Annual yield
65%
LTV
First
Mortgage rank
No
EVOEstate skin in the game