Savanorių pr. 178,, Vilkpedės districts, Vilnius

 Development loan
Vilnius,
Lithuania
11.5%
Annual yield
58%
LTV
Term: 14 months
Mortgage rank:
First
Interest payment schedule:
Monthly

EvoEstate description

NordStreet presents opportunity to invest in renovation and split of 4 property units into 6. The 190.000 euro with first-charge mortgage will be used to repay 120.000 outstanding balance on property buyout and approximately 60.000 euros for renovation and split. The collateral for this office (before renovation) comes to 393 euros per square meter.

Descripton

Introduction

Nordstreet guarantees safe investment:

the project LTV (loan value) relative will not exceed the project description the estimated LTV ratio if the project will be funded phase;

failing to collect the necessary funding before the start of a new project, all the investment returned by the bus back to the people. Applying for a smaller loan amount by the borrower will result in better collection and a lower amount.

Purpose of financing

  • For final redemption of premises and repairs.

Loan protection

  • Mortgaging of premises on a primary mortgage

Project return on investment and interest payment

  • Starting Fundraising Nordstreet Platform: 2020-02-14
  • Investing from 100 €
  • Annual investment return on the project from 11.5% (investment details are described in more detail)
  • 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.
  • Loan term: 14 months
  • Interest is paid monthly.

 

Detailed Information

Loan Object

The object of the loan is the existing premises in the newly formed six premises, the financing required for the final purchaser of the premises and the installation of the premises repair.

To meet the financing need, the Developer pledges real estate located at Savanorių Ave. 178F, Naujamiestis -Vilkpedė, Vilnius. The mortgaged property consists of 4 premises, which are formed into 6 new premises.

The total area of ​​the premises is 484.42 m2. After the repair work and the partitioning of the premises, the area of ​​the premises will not change. The premises to be installed are refurbished, small in size, making them more attractive and liquid in the market. There are not many small fully equipped premises in the border region.

Loan Terms

  • Loan Amount: € 190,000
  • Loan term: 14 months
  • Minimum loan term: 6 months
  • Value of the pledged property: € 329 000
  • LTV (loan to value ratio): 58 percent.
  • Project risk: C (riskier)
  • Loan Protection: A first line mortgage

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

  • Address of the mortgaged property: Savanorių pr. 178F, Naujamiestis -Vilkpedė, Vilnius
  • Property Type: Non-Residential Administrative Furnished - Partially from 4 Premises to Newly Built 6 Premises
  • Value of the pledged property: € 329 000
  • Documentation: Property Valuation Report.
  • Reporting details: 13 February 2020
  • Evaluator: UAB "Capital valuation"
  • Mortgage: A first line mortgage

 

Project Developers

Legal entity Statmetra has experience in various real estate residential projects in Vilnius and beyond. The company is engaged in real estate construction and contracting as well as development and sales process and / or renovation of buildings.

The team has an experienced team of builders who are well versed in the specifics of their work and projects and work with the best in their class who have a great deal of environmental knowledge and understanding.

This year the company successfully builds 3 more real estate projects in Šnipiškės and Pilaitėte districts and near Vilnius.

 

 

Finance

Loan

The financing will require € 190,000 to be used for the final redemption of the premises and the fitting-out of the premises.

Loan collateral

First row mortgages on existing real estate - Mortgage.

The loan will be repaid from the sale of the property being developed by the company, the current and future profits or by refinancing the loan.

Investment risk: C (riskier)

LTV: 58%

Mortgaged property: 484,42 m2 non-residential administrative premises, Savanorių pr. 178F, Vilnius.

Value of the mortgaged property: € 329 000

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

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.

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

Expected loan start date: 2020 02 28

Expected loan repayment date: 2020 12 28 - 2021 12 01

Project originated by:

Documentation

11.5%
Annual yield
58%
LTV
Term: 14 months
Mortgage rank:
First
Interest payment schedule:
Monthly