Vilniaus str.38A, Putiniškės, Vilnius district, Lithuania

Vilnius, Lithuania

190 000.00 €

Raised 190 000.00 €

13% Net annual
yield
48%LTV
15 Months

Listed: 2020-07-09

Type: Development loan

Mortgage rank: First

Interest payment schedule: Monthly

Min. amount of investment - € 100

Project originated by:

Project updates

May 10, 2021

Update from the originator:

The originator has informed us that they are preparing the payment of the late interest for this week.

Detailed Description

Introduction

Nordstreet takes these measures to ensure protection of investment

The loan to value ratio of the project will not exceed the LTV ratio provided in the project description, including in cases when the project will be financed in stages.
If the required amount of funding is not collected before the start of the project, all investments will be returned to the invested persons. Upon application by the Borrower, the financing may be considered to have been successfully completed with a smaller amount collected, the financing of the project may be divided into several stages and / or the financing period of the project may be extended. In these cases, Nordstreet informs the funders and publishes the information on the completion of the project with a smaller amount, the division of the project funding into several stages or the extension of the project funding period on its website together with other information about the project.
By investing in a project, financiers acquire claim rights. Nordstreet does not make it possible to transfer these acquired claim rights to other persons on its platform.
The activities of UAB Nordstreet are controlled by the Bank of Lithuania and included in the Public List of Operators of Concentrated Financing Platforms administered by the Bank of Lithuania.

Purpose of funding

Free up company capital and working capital for real estate project development.

Loan protection

Pledge of land plot with a primary mortgage
Project investment return and interest payment
Start of fundraising on Nordstreet platform: 2020-07-08
Investment from 100 €
Annual investment return of the project from 13% (investment conditions are described in more detail in the Detailed information section)
Interest on the Loan Amount shall be calculated from the date (inclusive) on which the Loan Amount is paid to the Borrower's Paysera Account or to such other account (or accounts) as the Borrower shall notify the Operator in writing prior to the disbursement of the Loan Amount.
Loan term: 15 months
Interest is paid monthly.

Business loan terms

Purpose of the loan

The object of the loan is a plot of land where a production, administrative and warehousing building is being designed, at Vilniaus St. 38A, Putiniškių km, Vilnius district, which needs financing - to release the company's capital, for the development of a real estate project.

The existing 0.9465 ha plot includes a newly designed production building with administrative premises, which provides for the installation of newly and modernly prepared premises to optimize the company's operations and expand capacity. The areas are planned to meet the needs of the company developing the project and its customers, tenants to order and to be in demand in the market and in the region. 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, administrative and production facilities;

- Land plot area of 0.9465 hectares;

- Total future production and administrative building, premises area - up to 4000 m2, (visualizations may change during project development)

Loan terms

Loan amount: € 190,000
Loan term: 15 months
Minimum loan term: 3 months
Value of mortgaged property: € 400,000
LTV (Loan-to-value ratio): 48%
Project risk: B (medium)
Loan protection: pledging property with a primary mortgage

Interest:

When investing from 100 € - interest 13%
When investing from 5,000 € - interest 13,5%
When investing from € 12,500 - interest 14%
When investing from 25,000 € - interest 14,5%

Collateral information

The value of the existing real estate (land plot for administrative and production facilities) is € 400,000.
Land plot - intended use - areas of administrative and production facilities,
Address of the pledged property: Vilniaus str.38A, Putiniškės, Vilnius district.
Valuable property: plot of land
Type of property: land plot for other, administrative and production facilities.
Value of mortgaged property: € 400,000
Documentation: property valuation
Report preparation date: 2020. May 28
Appraiser: UAB Nill Nill
Mortgage: A first-rate mortgage

Borrower

Project developer - Closed Joint-Stock Company "Suntracker LT", the board and shareholders of which are related to SORETTO holding B.V. Representative of a Dutch company engaged in the production and sale of furniture throughout Europe in Lithuania. The company's shareholders and management have experience with real estate investments, their management and administration, and in Lithuania they plan to build a planned administrative and warehousing project, which will produce part of the products for other markets. The company's total balance sheet assets amount to more than EUR 0.5 million.

IMPORTANT! The project owner successfully pays interest on the Nordstreet platform.

Loan protection collateral

Loan

The financing requires an amount of € 190,000, which will be used to free up the company's capital and working capital, for the development of the real estate project.

Loan collateral

Mortgage of the first line of existing real estate - Mortgage.

The loan will be repaid from the sale of the company's development assets, current and future profits or after refinancing the loan.

Investment risk: B (medium)

LTV: 48 %

Pledged property: Land plot - for other, administrative and production object territory purposes, the area of which is 0.9465 hectares, located at Vilniaus str.38A , Putiniškės, Vilnius district.

Value of mortgaged property: € 400,000

Interest:

When investing from 100 € - interest 13%
When investing from 5,000 € - interest 13,5%
When investing from € 12,500 - interest 14%
When investing from 25,000 € - interest 14,5%

Loan term

15 months (with the possibility of repayment earlier, but not earlier than after a period of 3 months).

If the Borrower repays the Loan amount or a part thereof earlier than 3 months after the due date of 15 months, it undertakes to pay interest to the Lender for a period of 3 months. After a period of 3 months, the Borrower may repay the loan (together with the applicable interest) without any additional fees.

By investing in a project, financiers acquire claim rights. Nordstreet does not make it possible to transfer these acquired claim rights to other persons on its platform.

Company loan repayment period

Estimated start date of the loan: 2020 07 30

Expected repayment date of the loan: 2021 07 30 - 2021 10 30

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Documents

Payment schedule

Date	Status	Late	Assignment date
27.08.2020	Paid	No	01 September 2020, 14:19
27.09.2020	Paid	No	28 September 2020, 16:26
27.10.2020	Paid	No	04 November 2020, 15:59
27.11.2020	Paid	No	04 December 2020, 19:20
27.12.2020	Paid	No	06 January 2021, 00:17
27.01.2021	Paid	No	02 February 2021, 17:48
27.02.2021	Paid	No	22 March 2021, 10:55
27.03.2021	Paid	No	07 April 2021, 18:52
27.04.2021	Paid	No	09 June 2021, 15:26
27.05.2021		Yes	-
27.06.2021		No	-
27.07.2021		No	-
27.08.2021		No	-
27.09.2021		No	-