Savanorių ave. 178, Naujamiestis II

Vilnius, Lithuania

320 000 €

Raised 320 000 €

11.5%Expected Return
10.62%Actual Return

14Months Expected Term
15Actual Months Term

Listed: 2020-02-24

Type: Development loan

Mortgage rank: First

Interest payment schedule: Monthly

Min. amount of investment - € 0

Project originated by:

Project updates

May 10, 2021

Update from the originator:

The originator has informed us that the deadline for the repayment of this project is the 13th of May.

See other project updates ›

EvoEstate comment

The only reason this is not skin in the game, is that we have just invested same developer, same type of project in same building.

Detail 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: 2020-02-21
Investing from 100 €
The 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 repair of the premises.

To meet the financing need, the Developer pledges real estate located at Savanorių Ave. 178F, Naujamiestis -Vilkpedė, Vilnius. The mortgaged property consists of 7 premises, which are formed into 10 new premises.

The total area of the premises is 816,27 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: € 320,000
Loan term: 14 months
Minimum loan term: 6 months
Value of the pledged property: € 555 000
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 7 Premises to Newly Built 10 Premises
Value of the pledged property: € 555 000
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 € 320,000 to be used for the final redemption of the premises and the fitting-out of the premises.

Loan collateral

First 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: 816,27 m2 non-residential administrative premises, Savanorių pr. 178F, Vilnius.

Value of the mortgaged property: € 555 000

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 03 03

Expected loan repayment date: 2020 12 28 - 2021 02 01

Payment schedule

Date	Status	Late	Assignment date
13.05.2020	Paid	No	15 April 2020, 11:04
13.06.2020	Paid	No	15 May 2020, 19:04
13.07.2020	Paid	No	15 June 2020, 17:44
13.08.2020	Paid	No	16 July 2020, 12:13
13.09.2020	Paid	No	24 August 2020, 16:46
13.09.2020	Paid	No	28 September 2020, 11:04
13.10.2020	Paid	No	28 September 2020, 16:23
13.10.2020	Paid	No	03 November 2020, 16:14
13.11.2020	Paid	No	26 November 2020, 20:49
13.12.2020	Paid	No	14 December 2020, 23:24
13.01.2021	Paid	No	23 January 2021, 00:59
13.02.2021	Paid	No	12 March 2021, 23:08
13.03.2021	Paid	No	06 May 2021, 11:52
13.04.2021	Paid	No	11 June 2021, 11:58
13.05.2021	Paid	No	15 June 2021, 17:46

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