Urbo Houses Phase I

 Development loan
Neringa,
Lithuania
9%
Annual yield
14%
LTV
Term: 12 months
Mortgage rank:
First
Interest payment schedule:
Quarterly
Interest payments
30.06.2020
Paid
01.10.2020
Pending

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Descripton

PROJECT OWNER

TYPE

Legal person

COMPANY NAME

UAB Agostėja

COMPANY CODE

152779988

INVESTMENT INFORMATION

TYPE

Loan

PURPOSE OF THE INVESTMENT

Real estate development

AMOUNT REQUESTED FOR FUNDING

300,000 €

INVESTMENT PERIOD *

12 months

LTV

14% (60% max)

 

INVESTMENT RETURN FORM

At the end of the period

FREQUENCY OF INTEREST PAYMENT

Once a quarter

SOURCE OF INTEREST PAYMENT

Real estate sales income

ANNUAL INTEREST RATE

9%

* 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

GD Kuverto g. 15, Neringa

INDEPENDENT ASSESSOR

UAB OBER-HAUS

VALUE OF PLEDGED ASSETS AS PER INDEPENDENT VALUATION

$ 2,178,000

In order to ensure the interests of the investors, the right to lease the land plot and 4 premises with the building permit will be pledged, which will be replaced by apartments. The new homes being built / planned to be built on the plots will also be pledged to investors.

 

During this and previous funding rounds, the pledged assets will be used to secure the obligations of the project owner in the next (additional) financing rounds, provided the project owner raises the value of the pledged assets to a maximum LTV of 60%. Currently, LTV stands at only 14%.

Investments made in this project will not be reimbursed to investors in subsequent financing stages until settlement has been made with the investors who have invested in this financing stage. 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.

Investors at all stages will be mortgaged with a primary mortgage.

PROJECT INFORMATION

Real Estate Development Loan - Urbo Namai Phase I. The company plans to develop a holiday apartment (41 apartments). The company will use the funds borrowed during this funding phase for the construction of the project.

Investors will be mortgaged by the developer and will have 4 premises to replace the apartments. At the moment the works are underway, the building permit has been obtained and the previous object has been demolished. Foundation completion is expected in 2020. April The construction of recreational plots will also be pledged to investors. The developer has already signed three preliminary sales contracts worth $ 650,000. euros.

Urbo Homes is a new construction project, energy-efficient Class A utility housing, designed with the climate and building users in the area in mind, which results in extremely low energy consumption. Three shells, forty-one, 44-138 sqft. m. size apartment with attic or fireplace option. The project will be implemented with partial finishing. The dwelling infrastructure is developed in response to the needs of the residents: a closed courtyard, spacious parking (21 above ground and 14 underground parking spaces), surrounded by pine forests with bicycle and walking paths. Near UNESCO World Heritage Sites. The resort constantly strives for harmony between nature and man, creating an environmentally friendly environment.

For those who invest more than 5,000 Euros + 1%, and from 20,000 Euros + 2% to the annual interest. Investors at all stages will be mortgaged with a primary mortgage.

Maximum planned amount of funding for the Project: EUR 2 250 000. The project is funded based on the current mortgage valuation until it reaches the maximum LTV set. Once the maximum LTV has been reached, a new valuation of the property will be required and further project funding rounds will be announced and collected only if the maximum LTV set is not exceeded.

We plan to collect the amount within 7 days, with the option to extend it to 21 days. without raising funds.

Project visualizations are provided. More information about the project: https://urbonamai.lt

NAME OF THE PROJECT

Urbo House

PROJECT CONSTRUCTION PERMIT NUMBER

LRS-32-17012700002

ADDRESS OF THE PROJECT

GD Kuverto g. 15, Neringa

PURPOSE AND AREA OF ​​THE SITE

0.3042 ha

TECHNICAL INFORMATION

BUILDING MATERIAL

Masonry

NUMBER OF FLOORS OF THE OBJECT (BUILDING)

3

ENERGY CLASS

A

DURATION OF REPAIR / CONSTRUCTION

12 months

DESCRIPTION OF THE PROJECT SITE

Urbo Namai is strategically located in a peaceful location on a hill between the center of Nida and the Baltic Sea, away from the hustle and bustle of tourists. Close to all the resort's benefits. The scenic footpath through the pine forests of the Baltic Sea and Mount Urbo can be reached in just 10 minutes and the center of Nida and Maria in 15 minutes. The old town of the settlement is still filled with the old aura of the fishermen's village, surrounded by Parnidis and the Great Dunes.

REPAIR / CONSTRUCTION DESCRIPTION (DETAIL)

2020 The foundation works are scheduled to be completed in April. Once the foundations have been laid, the ground floor construction work will begin.

Project originated by:

Documentation

9%
Annual yield
14%
LTV
Term: 12 months
Mortgage rank:
First
Interest payment schedule:
Quarterly
Interest payments
30.06.2020
Paid
01.10.2020
Pending
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