Lofts, Elektrenai st. III
Lithuania
Project updates
Ask a question
Descripton
PROJECT OWNER
TYPE
Legal person
COMPANY NAME
UAB "By Us"
COMPANY CODE
304310362
ACTIVITIES
Real estate development, real estate for rent
INVESTMENT INFORMATION
TYPE
Loan
PURPOSE OF THE INVESTMENT
Conversion of administrative premises to apartments
AMOUNT REQUESTED FOR FUNDING
$ 51,500
INVESTMENT PERIOD *
18 months
LTV
14% (55% max)
THERE IS LEFT TO COLLECT THE INVESTMENT
7th
INVESTMENT RETURN FORM
At the end of the period
FREQUENCY OF INTEREST PAYMENT
Once a quarter
SOURCE OF INTEREST PAYMENT
Company funds
ANNUAL INTEREST RATE
7%
* Note. If the real estate developer repays a part of the loan earlier, he has to pay an additional 1 month. interest on the amount to be repaid (but in general, interest for that part shall be payable for a minimum of 3 months but not more than the term of the loan).
COLLATERAL
ADDRESS OF THE MORTGAGED PROPERTY
Elektrenai st. 8N - 101; 201; 8N 1-35
INDEPENDENT ASSESSOR
Baltic Property Valuation Agency
VALUE OF PLEDGED ASSETS AS PER INDEPENDENT VALUATION
$ 1,436,100
Investors at all stages will be mortgaged with a primary mortgage.
The pledged assets will be used to secure the obligations of the project owner for the next (additional) financing stages, provided that the project owner raises the value of the pledged asset to the level of the LTV.
Investments made in this project will only be repaid to investors after the second and subsequent funding rounds, after settlement with investors who have invested in the previous financing rounds. This condition shall not affect the seniority of the investor's right to the collateral, the overall ratio of the collateral to the amount of the investment. This condition is also not applicable in case of termination of the loan agreement.
PROJECT INFORMATION
This is the third project Loftus, Elektrėnų g., Round of financing. Loan purpose - administrative premises converted into apartments. The project is to repair permit, work has been started.
The developer has acquired two sets of administrative facilities at Elektrėnų g. 8N, Kaunas. In these premises to start 116 Lofts / Furnishings: Fully furnished, they will be leased, and the developer has already installed 35 lofts/flats in other premises at the same address, which will cover the cost of the loan.
Assets pledged to protect the interests of investors at Elektrenai str. 8n, Kaunas: two administrative premises with a total area of 3,810 sq. M. m and 35 equipped with 14-40 sq. m. m of apartments with a total area of 794 sq. m. m. Mortgages have a maturity of 100%.
Investors at all stages will be mortgaged with a primary mortgage.
The borrower will be entitled to additional borrowings at other stages, provided the LTV does not exceed 55%. At this stage, the loan-to-value ratio (LTV) is 14%.
We plan to collect the amount within 7 days, with the option to extend it to 21 days. without raising funds.
NAME OF THE PROJECT
Lofts, Elektrenai st. III
PROJECT CONSTRUCTION PERMIT NUMBER
LIPR-21-170420-00035
ADDRESS OF THE PROJECT
Elektrenai st. 8N - 101; 201;
TECHNICAL INFORMATION
BUILDING MATERIAL
Masonry
NUMBER OF FLOORS OF THE OBJECT (BUILDING)
4
DESCRIPTION OF THE PROJECT SITE
Everything you need for a comfortable life is located around the project you are developing. There are several schools, kindergartens, a supermarket, a sports complex, a market, a clinic, a pharmacy, cafes, banks, a university and other service points that are important to the modern man.
REPAIR / CONSTRUCTION DESCRIPTION (DETAIL)
Currently, the project is installing partition walls, engineering.
Documentation
Confirm
