Sakiškės village, Bezdonys eldership, Vilnius district

 Development loan
Vilnius,
Lithuania
11.5%
Annual yield
41%
LTV
Term: 14 months
Mortgage rank:
First
Interest payment schedule:
Monthly

Descripton

Introduction

Nordstreet guarantees a 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;

- failure to collect the required amount of funding before the start of the project will return all investments back to the invested persons. Upon application by the borrower for a lower loan amount, the financing may be deemed to be successfully completed at the lower amount.

Purpose of financing

  • funding for land preparation and construction of newly designed buildings.

Loan protection

  • Pledge of land (3 parts) with primary mortgage. Video can be found here
  • Company employee personal surety

Project investment return and interest payment

  • Investing from 100 €
  • Annual investment return on the project starting from 11.5% (investment details are described in the section Details)
  • The interest on the Loan Amount shall be calculated from and including the date of disbursement of the Loan Amount to the Borrower's Paysera account or to such other account (or accounts) as notified by the Borrower to the Operator in writing prior to the disbursement of the Loan Amount. Interest is paid monthly. 
  • Loan term: 14 months

 

Detailed Information

Object of the loan

The object of the loan is three agricultural parcels with building permits, which are designed three residential and six recreational (non-residential) buildings, address Sakiškių village, Bezdonys eldership, Vilnius district, which needs financing - land preparation and construction of newly planned buildings.

The existing three plots of 0.5764 ha, 0.5774 ha, 0.5217 ha have newly designed buildings, cozy and within easy reach of the forest area. The total area of ​​the planned buildings is almost 2200 m2. The building areas are designed to meet the needs of the suburban population and are in demand in the market and in the area. The location of the project is attractive and is located in the long-loved area of ​​Vilnius district, near the famous Laurai quarter, on the renewed Nemencine highway road.

GENERAL PROJECT INFORMATION

- 3 agricultural parcels with building permits;

- Total useful land area of ​​1.6755 hectares;

- 3 future residential buildings with an area of ​​262.31 m2 (visualization subject to change during project development)

- 6 future recreational (non-residential) buildings with an area of ​​240 to 241 m2 (visualizations may change during the project development)

Loan Terms

  • Loan amount: € 370,000
  • Loan term: 14 months
  • Minimum loan term: 6 months
  • Collateral value: 893 100 €
  • LTV (Loan-to-value ratio): 41%
  • Project risk: B (medium)
  • Loan protection: pledge of the land property with a primary mortgage and additional security as security for the employee of the company

Interest:

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

Security Information

The value of the existing real estate, land plots with building permits is 893,100 €.

Land parcels - target use - agricultural areas. Video can be found here

  • An additional security measure is the surety of a company employee.
  • Address of the mortgaged property: Sakiškių village, Bezdonys eldership, Vilnius district.
  • Valuable property: 3 plots of land,
  • Property type: Agricultural land
  • Collateral value: 893 100 €
  • Documentation: Property Valuation
  • Report preparation date: May 31st. 2019
  • Appraiser: UAB Cre pro property evaluation agency
  • Mortgage: first-line mortgage and personal surety

Project Developers

Project developer UAB "Aganus" is established to manage real estate development and administration activities.

The company has developed and participated in a number of successful real estate projects and successfully continues its beginnings by developing land and real estate activities in Vilnius and beyond. The company's turnover in 2019 was over EUR 0.6 million and its assets almost EUR 1 million.

Finance

Loan

The funding requires an amount of € 370,000, which will be used to finance the land preparation and the construction of the newly planned buildings.

Loan collateral

Mortgages and personal pledge of the first employee of the company V.Zažeckytė.

The value of the property is € 893,100. The full property valuation is uploaded in the Documents section.

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

Investment risk: B (medium)

LTV: 41%

Interest:

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

Interest on the Loan Amount shall be calculated from the date (inclusive) on which the Loan Amount is paid into the Borrower's Paysera Account or such other account (s) as the Borrower shall provide in writing to the Operator prior to disbursement of the Loan Amount.

Loan Period

Loan term: 14 months (with option to repay earlier but not 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 project: 2020 03 01

Expected completion of the project: 2021 02 01 - 2021 04 01

Project originated by:

Documentation

11.5%
Annual yield
41%
LTV
Term: 14 months
Mortgage rank:
First
Interest payment schedule:
Monthly