Nordstreet takes these measures to ensure a safe 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, financing may be considered successful upon completion of a smaller amount, project financing may be divided into several stages and / or the project financing period 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 term on its website together with other information about the project.
• 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
• Renovation of the building and premises, real estate project development.
• Pledge of a part of the building and its premises, the value of which is EUR 421,052.
Project investment return and interest payment
• Start of fundraising on the Nordstreet platform: 2020-07-14
• Investment from 50 €
• Annual investment return of the project from 12% (investment conditions are described in more detail in the section Business loan conditions)
• Interest on the Loan amount is 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 notifies the Operator in writing prior to the disbursement of the Loan amount.
• Loan term: 13 months
• Interest is paid monthly.
• The loan and the amount invested are repaid at the end of the loan.
Bangų str.8, Palanga, Lithuania project description
The project in Palanga reflects the needs of modern holidaymakers, the planned living spaces are not loaded with complex technical solutions, which allows them to be easily transformed according to the customer's needs.
The 4-storey building provides 34 property units for residential premises, with cafes, administrative premises on the first floor of the building. Future living quarters of different areas, from 21 m2 to 35 m2, are perfect for holidaymakers who want to spend quality and good time on the Lithuanian seaside. The building is located in a block of flats, and its uniqueness is formed by large terraces from the upper floors and part of the lower floors. The building is also planned to be equipped with warehouses to meet the needs of holidaymakers.
Bangų Street, where the building stands, is a bit quieter Vytauto str. the branch continues from the main street of Palanga, Basanavičiaus Street.
Current situation and business model
- The project envisages the formation of 34 new apartments with administrative premises, the total area of which will reach up to 1618 m2.
- 19 newly planned residential flats / apartments are already reserved, i.e. advances have been received for them.
- The end date of the project is planned to be the end of 2020.
About raising project funding on the Nordstreet platform
Loan amount: € 240,000
Annual investment return of the project: 12-13.5%.
Interest payment: monthly
Repayment of the invested amount: at the time of repayment of the loan
LTV (loan-to-value): 57%
Project risk: B
Purpose of the loan: conversion of the project and installation into residential apartments
Mortgaged property: part of a building with a value of EUR 421 052. (in the Documents section at the bottom of the project description).
Documentation: property valuation
Date of preparation of the report: 2020. June 18
Evaluator: UAB Oberhaus
Mortgage: A first-rate mortgage
Annual return on investment
When investing from 100 € - interest 12%
When investing from 5,000 € - interest 12.5%
When investing from € 10,000 - interest 13%
When investing from € 20,000 - interest 13.5%
The developer of the project is UAB "Denotė", which is the owner of the property, and the new shareholders of the company specialize in the preparation of investment projects, their management, object search, development and sale. The company's shareholders and managers have developed successful real estate projects both in Vilnius and abroad in other cities and abroad. Below is a list of projects in Lithuania that were developed or participated in by the administration and owners of this project:
- Panerių st. conversion of warehouse premises into a multi-apartment residential building with administrative premises.
- Administrative building, Daugėliškio str. investment project preparation and management.
- Holiday home repair. investment project management and sales. Mokyklos street, Palanga.
- Administrative building Kauno str. investment project preparation and management.
- Wojska g. 18, Mrzeżyn Town, Gryfice County, Poland. (project funded on Nordstreet platform)
- Other real estate projects, their maintenance and administration in Vilnius, Naujamiestis and Senamestis. In Nemenčinė and Trakai.
Funding requires an amount of € 240,000, which will be used for the renovation of the building and premises, and the development of the real estate project.
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)
Pledged property: Part of the building - apartment / room, living rooms with a cafe and basement, other, unique no.2597-50002013: 0007, located at Bangų str.8, Palanga.
Value of mortgaged property: EUR 421,052
13 months (with the possibility of repayment earlier, but not earlier than after a period of 4 months).
If the Borrower repays the Loan amount or part thereof earlier than 4 months after the due date of 13 months, he 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 (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 31
Expected repayment date of the loan: 2020 12 31 - 2021 05 03
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