Basanavičiaus g. 148BDevelopment loan
The object of the loan is a residential building already funded on the Nordstreet platform, located in KÄdainiai, Kaunas County, which needs funding - to complete the building's construction, with a secondary mortgage on the property.
The amount of the loan is EUR 60,000 (sixty thousand euros).
Loan term is 12 months.
Loan annual return on investment 15%
Project annual return on investment 15%
Loan pledged property is a residential building with a value of EUR 575,000. (five hundred and seventy five thousand euros).
Loan-to-value ratio of primary mortgage 61%. (Mortgage Holder Nordstreet)
The loan-to-value ratio of the secondary mortgage is 71%.
The loan interest is repaid every month starting from the start of the project.
The loan is repaid before the end of the project by selling the residential dwellings, income from the company or refinancing the loan.
Project developer - Kohena Closed Joint-Stock Company engaged in real estate development, construction management and specializing in renovation of plots and / or residential buildings. The company is well-versed in a large-scale real estate project, the latest of which is the well-known, energy-class A modern, residential „Neries Ardai“ project.
Private Joint-Stock Company Kohena has already successfully repaid a loan on the Nordstreet platform.
Project provided by:
Value of existing real estate (residential building): EUR 575,000
Financing required: EUR 60,000
Loan term: 12 months (with a possibility to repay earlier, but not earlier than after 2 months)
Annual Interest 15%
The already existing ratio of the primary mortgage loan to the asset collateral value (LTV) is already 61%. (Mortgage Holder Nordstreet)
Future with the required funding amount, total loan-to-asset ratio (LTV) ratio of 71%.
Second-rank pledge of existing real estate (residential building). (Primary Mortgage Holder Nordstreet)
The value of the property is EUR 575 000
Project installation period
Project start date: 2018 07 10
Process of the project process: 2018 07 10 - 2019 06 10 (11 months)
Start of project sale: 2018 11 10 (already started, part of apartments sold)
Expected end of project: 2019 07 01
More information about the project and its progress can be found here: http://basanaviciaus148.lt/