Vilniaus str. 38B, Putiniškės, Vilnius district, Lithuania

 Development loan
Vilnius, Lithuania
Status
Done
190 000 € (100%)
190 000 €
Term: 12 months
Interest payment schedule: Monthly
11.5%
Annual yield
53%
LTV
First
Mortgage rank
No
EVOEstate skin in the game

EvoEstate description:

We are not investing in this project because it's a land development further away from the city centre, which does not have a development licence. However, valuation report compares the competing land properties with this one and informs that competing land is valued at EUR 2.6K / while this one is valued at EUR 2.4K / are. 

NordStreet description:

Introduction

Nordstreet guarantees safe investment:

(I) the project LTV (loan to value) ratio will not exceed the LTV ratio provided in the project description if the project is funded in stages;

(II) If the required amount of financing is not collected before the start of the project, all investments will be returned to the investees. If you borrower request for a smaller amount of the loan grant - funding can be considered a successful completion of entering a lower amount.

Purpose of financing

  • Financing of land preparation and construction works of the newly planned building.

Loan protection

  •  Land plot located at Vilniaus str. 38B, Putiniškės, Vilnius district, Lithuania pledge on primary mortgage

Project return on investment and interest payment

  • Investing from 100 €
  • Annual return on investment of the project starts from 11.5% (Interest payment details are described in the Detailed information section)
  • Interest on the loan is calculated from the actual closing date of the auction and is paid monthly. The amount invested is repaid by the project developer repaying the loan.
  • Loan term: 12 months

Detailed Information

Object of the loan

The object of the loan is a plot of land containing a newly designed administrative and storage building at Vilniaus st.,  38B Putiniskiu village, Vilnius district, which needs financing for the preparation of land for construction works and the newly planned development of the building.

The existing plot of 79.20 ares includes a newly designed storage building of up to 3500 m2 with administrative premises (construction permit is being prepared), which provides for the installation of newly and modernly prepared storage and administrative premises. The areas are designed to meet the needs of the company developing the project and to be marketable in the area. The location of the project is in the developing part of the Vilnius-Panevėžys highway, so the building will be in an attractive location.

GENERAL PROJECT INFORMATION

- Land plot - commercial object territory purpose;

- Land area 0.7920 hectares;

- Total future warehouse and administrative building space up to 3500 sq.m (visualizations may change during the project development)

Loan Terms

  • Loan Amount: € 190,000
  • Loan term: 12 months
  • Minimum loan term: 4 months
  • Collateral value: € 341,000
  • LTV (Loan-to-value ratio): 56%
  • Project risk: B (medium)
  • Loan Protection: first order mortgage

Interest

  • Investing from 100 € - interest 11.5%
  • Investing from € 5,000 - 12% interest
  • Investing from € 10,000 - 12,5% interest

Loan protection

The value of the existing real estate (commercial land in the site) is € 341,000.

Land plot - target use - commercial areas,

Address of the mortgaged property: Vilniaus str 38B, Putiniškės, Vilnius district.

  • Valuable property: land,
  • Property type: Commercial land
  • Collateral value: € 341,000
  • Documentation: Property Valuation
  • Report preparation date: July 10th. 2019
  • Appraiser: UAB Cre Pro Property Valuation Agency
  • Mortgage: A first line mortgage

Project Developers

Project Developer - Private Limited Company Suntracker LT, whose board of directors is affiliated with SORETTO holding B.V. Dutch company engaged in furniture production and sales throughout Europe in Lithuania. Shareholders and management of the company have experience in real estate investments, their management and administration and are planning to build a planned administrative and warehousing project in Lithuania, which will produce part of production for other markets.

Finance

Loan

The funding will require € 190,000 to be used for further land construction and the preparation of the planned building.

Loan collateral

First-line mortgages on existing real estate - Mortgage.

The value of the property is € 341,000. The full property valuation is uploaded in the Documents section.

The loan will be repaid from the company's operating income, sale of assets, lease or refinancing the loan.

Investment risk: B (medium)

LTV: 56%

Mortgaged property: The value of the pledged property is € 341,000. Appraised land without building permit.

Interest:

  • Investing from 100 € - interest 11.5%
  • Investing from € 5,000 - 12% interest
  • Investing from € 10,000 - 12,5% interest

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

Loan Period

Loan term: 12 months (with option to repay earlier, but not earlier than 4 months).

If the Borrower repays the Loan Amount or part thereof less than 4 months after the due date of 12 months, the Borrower undertakes to pay interest to the Lender for a period of 4 months. After a period of 4 months, the Borrower may repay the loan at no additional charge.

Company loan repayment period

Start of project: 2019 11 30

Expected project completion: 2020 08 10 - 2020 10 10

 

Project originated by:
Status
Done
190 000 € (100%)
190 000 €
Term: 12 months
Interest payment schedule: Monthly
11.5%
Annual yield
53%
LTV
First
Mortgage rank
No
EVOEstate skin in the game