Lofts, Elektrenai st. III

 Development loan
Kaunas,
Lithuania
7%
Annual yield
14%
LTV
Term: 18 months
Mortgage rank:
First
Interest payment schedule:
Quarterly

Project updates

Login to subscribe on project updates

Ask a question

, please create your nickname:
@
Allowed characters: a-z, 0-9. Min 3 characters
${question.length}/${maxQuestionLength}

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. 

Project originated by:

Documentation

7%
Annual yield
14%
LTV
Term: 18 months
Mortgage rank:
First
Interest payment schedule:
Quarterly
Get emails about all
PROFITUS
projects