Bitėnų str., Pilaitės eldership,Vilnius city (1st stage)

 Development loan
Vilnius,
Lithuania
11.5%
Annual yield
33%
LTV
Term: 14 months
Mortgage rank:
First
Interest payment schedule:
Monthly
Interest payments
10.03.2020
Paid
09.04.2020
Paid
11.05.2020
Paid
05.06.2020
Paid
07.07.2020
Paid
07.08.2020
Pending

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Descripton

Nordstreet guarantees safe investment:

  • The loan-to-value (LTV) ratio of the project will not exceed the LTV ratio provided in the project description if the project is funded in stages;
  • If the required financing amount is not collected before the start of the project, all investments will be returned to the investees. If borrower request for a smaller amount of the loan grant - funding can be considered successful completion of entering a lower amount.

Purpose of financing:

  • Financing of the newly developed land as an investment project and land preparation for construction work.

Loan protection:

  •   Land part as a pledge on primary mortgage

 

Project return on investment and interest payment

  • Investing from 100 €
  • Annual investment return on the project 11.5% (investment details are described in section Detailed information)
  • Interest of the loan is calculated from the end date of the auction and is paid monthly.  The amount invested is repaid when the project developer repays the loan.
  • Loan term: 14 months.

Object of the loan

The object of the loan is a newly designed agricultural land, the purpose of which is being changed to another (residential use) for obtaining a construction permit, at Bitėnų St., Pilaitė eldership, Vilnius City, which needs financing - for the newly developed land as investment project and land preparation finance.

The existing 2,0028 hectares of agricultural land includes a newly developed plot - for other purpose (residential use) for future dwelling houses with a design area of at least 10,000 m2.

GENERAL PROJECT INFORMATION

- Land - (other agricultural land)

- Land area of 2.0028 hectares;

Loan Terms

  • Goal: 180 000 
  • Loan term: 14 months
  • Minimum loan term: 6 months
  • Collateral value:  551 500 €
  • LTV ratio: 33% 
  • Project risk: B (medium)
  • Loan protection: first line mortgage

Interest

  • Investing from 100 € - interest 11.5%
  • Investing from 5 000 € - interest 12%
  • Investing from 10 000 € - interest 12.5%
  • Investing from 25 000 € - 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 part (Land - other agricultural land) is € 551,500. Land plot - changeable purpose to other-residential purpose.

  •      Address of the mortgaged property: Bitėnų g., Pilaitė, Vilnius
  •      Valuable property: land, part
  •      Property type: agricultural, other agricultural land
  •      Collateral value:   551 500 €
  •      Documentation: Property Valuation
  •      Report preparation date:  2nd of January 2020
  •      Appraiser: UAB "Vertinimo partneriai"  Agency
  •      Mortgage: A first line mortgage

Project developer - Net Tactical Private Limited Company and its shareholders, engaged in real estate development and / or investment and administers several plots in Vilnius city.

The company's shareholders and management have experience in real estate investments, their management and administration.

 

Loan

The funding will require an amount of € 180,000 to be used for further land design, alteration and preparation work.

Loan collateral

First-line mortgages on existing real estate part - Mortgage.

The value of the property part is € 551,500. The full property valuation is uploaded in the Documents section.

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

Investment risk: B (medium)

LTV: 33%

Mortgaged property

The value of the mortgaged property part is € 551,500. Estimated plot of land.

Annual return on investment

  • Investing from 100 € - interest 11.5%
  • Investing from 5 000 € - interest 12%
  • Investing from 10 000 € - interest 12.5%
  • Investing from 25 000 € - interest 13% 

Interest on the loan is calculated from the predetermined closing date of the auction and is paid monthly. The invested amount is repaid by the project developer repaying the loan.

Loan Period

Loan term: 14 months (with the option of early repayment, but no earlier than 6 months).

If the Borrower repays the Loan Amount or part thereof less than 6 months after the due date of 14 months, the Borrower undertakes to pay interest to the Lender for a period of 6 months. After a period of 6 months, the Borrower may repay the loan at no additional charge.

Company loan repayment period

Start of the project: 2020 02 18

Expected project completion: 2020 12 18 - 2021 02 18

Project originated by:

Documentation

11.5%
Annual yield
33%
LTV
Term: 14 months
Mortgage rank:
First
Interest payment schedule:
Monthly
Interest payments
10.03.2020
Paid
09.04.2020
Paid
11.05.2020
Paid
05.06.2020
Paid
07.07.2020
Paid
07.08.2020
Pending
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