Vilniaus str. 36, Putiniškės, Vilnius district

 Development loan
Vilnius,
Lithuania
13.5%
Annual yield
49%
LTV
Term: 18 months
Mortgage rank:
First
Interest payment schedule:
Monthly

EvoEstate description

The Project was cancelled, due to the request of Borrower.

Descripton

Introduction

Nordstreet guarantees safe investment:

(I) the project LTV (loan to value) ratio will not exceed the LTV ratio provided in the project description if the project is funded in stages;

(II) If the required amount of financing is not collected before the start of the project, all investments will be returned to the investees. If you borrower request for a smaller amount of the loan grant - funding can be considered a successful completion of entering a lower amount.

Purpose of financing

  • Loosen the company's capital for real estate project development and refinancing of its remaining loan.

Loan protection

  •  Land plot pledge on primary mortgage

Project return on investment and interest payment

  • Investing from 100 €
  • Annual return on investment of the project starts from 13.5% (Interest payment details are described in the Detailed information section)
  • 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: 18 months
  • Interest is paid monthly.

Detailed Information

Object of the loan

The object of the loan is a plot of land with a construction permit, which includes a newly designed production, administrative and warehousing building at Vilniaus St. 36, Putiniškių km, Vilnius district, which needs financing to release the company's capital, real estate development and refinancing of the remaining loan.

The existing 1,1012 ha plot includes a newly designed 1985 m2 production (1250 m2), warehousing (460 m2) purpose building with administrative premises (300 m2) with a building permit, which provides for the installation of newly and modernly prepared storage and administrative premises. The areas are planned to meet the needs of the company developing the project to order and to be in demand in the market and in the area. The location of the project is in the developing part of the Vilnius-Panevėžys highway, therefore the building will be in an attractive location.

GENERAL PROJECT INFORMATION

- Land plot - other, industrial and storage facilities with the purpose of a construction permit;

- Land plot area 1.1012 hectares;

- Total future production, storage, and administrative building, premises area - up to 1985 m2, (visualizations may change during the project development)

Loan Terms

  • Loan Amount: 225 000 € (1st stage)
  • Loan term: 18 months
  • Minimum loan term: 4 months
  • Collateral value: € 720 ,000
  • LTV (Loan-to-value ratio): 49% (for 1st stage is 31%)
  • Project risk: B (medium)
  • Loan Protection: first-order mortgage

Interest

  • Investing from 100 € - interest 13.5%
  • Investing from € 5,000 - 14% interest
  • Investing from € 12,500 - 14,5% interest
  • Investing from € 25 000 - 15% interest

Loan protection

The value of the existing real estate (land for industrial and storage facilities with a building permit) is € 720,000.

Land plot with a building permit - intended use - territories of industrial and storage facilities,

Address of the mortgaged property: Vilniaus str 38B, Putiniškės, Vilnius district.

  • Valuable property: plot of land with building permit.,
  • Property type: plot of land for other, industrial and warehousing purposes.
  • Collateral value: € 720 000
  • Documentation: Property Valuation
  • Report preparation date: April 4th. 2020
  • Appraiser: UAB Cre Pro Property Valuation Agency
  • Mortgage: A first-line mortgage

Project Developers

JSC "Rielko", which develops and administers real estate activities, real estate development for its clients, in the vicinity of Vilnius city and Vilnius district.

The company's administration has an experienced manager and employees who are well versed in their work and the specifics of real estate and work with the best in their class.

Last year, the company successfully acquired several real estate objects, and its total assets amounted to almost 0.9 million EUR. This year, the company plans to acquire several new projects that will be for rent and sale.

Finance

Loan

The financing requires an amount of € 225,000, which will be used to free up the company's capital, to develop the real estate project and to refinance its remaining loan.

Loan collateral

First-line mortgages on existing real estate - Mortgage. The loan will be repaid from the company's operating income, sale of assets, lease or refinancing the loan.

Investment risk: B (medium)

LTV: 49 %

Mortgaged property: The value of the pledged property is 720 000€ Appraised land with building permit.

Interest:

  • Investing from 100 € - interest 12.5%
  • Investing from € 5,000 - 13% interest
  • Investing from € 12,500 - 13,5% interest
  • Investing from € 25 000 - 14% 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 Period

Loan term: 18 months (with the option to repay earlier, but not earlier than 4 months).

If the Borrower repays the Loan Amount or part thereof less than 4 months after the due date of 18 months, the Borrower undertakes to pay interest to the Lender for a period of 4 months. After a period of 4 months, the Borrower may repay the loan at no additional charge.

Company loan repayment period

Start of project: 2020 04 25

Expected project completion: 2020 12 01 - 2021 10 30

Project originated by:

Documentation

13.5%
Annual yield
49%
LTV
Term: 18 months
Mortgage rank:
First
Interest payment schedule:
Monthly