Lofts, Kaunas IV

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

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Descripton

TypeInvestment purposeRequested amount to be fundedInvestment period*
LoanConversion of administrative premises into appartments48 500 €18 month
LTVTime remainingInvestment repayment form Frequency of payment of interest
18% (max 55%)7 daysAt the end of the periodOnce per quarter
Source of payment of interestAnnual interest rate
Company Funds7%
*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 repaid (however, the interest on that part will, in general, be paid for not less than three months but not more than the term of the loan).


Loan for real estate development – stage IV of “Loftai, Elektrenu st.”. The company will use the borrowed funds for conversion of administrative premises into appartments.

Construction / reconstruction permits have been obtained for the project and reconstruction works have already begun.

The developer has acquired two administrative premises at Elektrenai str. 8N, Kaunas. The installation of 116 lofts / flats to be leased has started on these premises. Also, the developer has already installed and rented 35 lofts / flats in other premises at the same address.

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 and 35 rented, 14-40 sq. m of apartments with a floor area of 794 sq. m. Completeness of the pledged apartments - 100%.

Assets pledged to investors will also be used to secure the obligations of the project owner in the next (additional) stages of financing, provided that the project owner raises the value of the pledged property to a maximum LTV of 55%.

Investors of all stages will be pledged with a primary mortgage. An annex to the first-stage loan agreement will be concluded with the project owner regarding the payment of the additional amount, leaving a lien on the same property.

When investing into this project, during the second and subsequent funding stages, the invested funds will be repaid to investors only after settlement with the investors who have invested in the previous funding stages. This condition does 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 provision will also not apply in the event of termination of the loan agreement.

The project is funded based on the current mortgage valuation until it reaches the maximum LTV set. When maximum LTV is reached, a new valuation of the property will be required and further project funding stages will be announced and collected only if the maximum LTV set is not exceeded.

We plan to raise the amount within 7 days, with the option of extending it to 21 days if we do not raise funds.
Title of the project    Number of the construction permit for the project    Address of the project
Lofts, Kaunas IV    LIPR-21-170420-00035    Elektrenu str. 8N - 101; 201;


 

Construction materialNumber of floors in the object (building)Description of the site of the projectDescription of repair/construction (detailed)
Mūras4Everything that may be needed for a comfortable life is located around the project. There are several schools, kindergartens, supermarket, sports complex, bazaar, clinic, pharmacy, cafes, banks, university and other service points important for the modern man.Currently, the project is installing partition walls, engineering.

 

 

 

Project originated by:

Documentation

7%
Annual yield
18%
LTV
Term: 18 months
Mortgage rank:
First
Interest payment schedule:
Quarterly
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