Criteria | From a+ to d | Project rating |
---|---|---|
Macro Location Analysis Purchase Price/Land Price Loan To value Purpose of the loan Development's licence Borrower's experience Presales Guarantees | A+A+A-A+A+BD-A+ | Originator rating A EvoEstate Risk rating is of an informative nature only & can not be considered investment advice. |
Loan protection
Project investment return and interest payment
Nordstreet takes these measures to guarantee a safe investment
Object of the loan
The object of the loan is a merge, purchase and further development of the premises in the building.
To ensure the need for financing, the Developer pledges the acquired real estate located at Lelevelio str. 4, Vilnius City Municipality.
- Residential premises (residential use) 1094–0399-9013:0009 with a total area of 60.27 m2;
Loan terms
Loan amount: € 92,460
Loan term: 12 months
Minimum loan term: 6 months
Value of mortgaged property: € 134 000
LTV (Loan-to-value ratio): 69%
Project risk: B (medium). The project owner's evaluation rules can be found here.
Loan protection: pledging property with a primary mortgage
Interest:
Collateral information:
Legal entity "Somnus LT", which carries out and administers the lease and sale of its real estate in Vilnius.
The team has an experienced manager, good knowledge of their work and the specifics of real estate, and has been in the real estate rental and sales business for more than 3 years. The company's balance sheet assets amount to more than EUR 0.5 million, and the years of operation in 2018 and 2019 were profitable.
Purpose of a business loan
Financing requires an amount of € 92 460 to be used for the purchase merge and further development of the premises in the building.
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: 69%
Mortgaged property: 60.27 m2 of total area of residential premises, address Lelevelio str.4, Vilnius.
Value of mortgaged property: € 134 ,000
Interest:
Loan term
12 months (with the possibility of repayment earlier, but not earlier than after a period of 6 months).
If the Borrower repays the Loan amount or a part thereof earlier than 6 months after the due date of 12 months, it undertakes to pay interest to the Lender for a period of 6 months. After a period of 6 months, the Borrower may repay the loan (together with the applicable interest) without any additional fees.
Company loan repayment period
Estimated start date of the loan: 2020 10 25
Expected repayment date of the loan: 2021 05 01 - 2021 06 01
SWOT analysis of the project:
Strengths
- First order mortgage on existing real estate - Mortgage.
- The borrower has successfully raised financing on the Nordstreet platform for the development of other assets in the same building
- The location of the mortgaged property is attractive, the property is liquid.
Weaknesses
- Mortgages are restricted and have an attachment.
Opportunities
- The borrower's expected average annual interest rate payable is 10.5%.
Threats
- If the collateral is encumbered, then loan financing will not be granted.
Date | Status | Late | Assignment date |
---|---|---|---|
![]() | Paid | No | 03 December 2020, 00:00 |
![]() | Paid | No | 28 December 2020, 21:26 |
![]() | Paid | No | 25 January 2021, 00:00 |
![]() | Paid | No | 23 February 2021, 00:00 |
![]() | No | - | |
![]() | No | - | |
![]() | No | - | |
![]() | No | - | |
![]() | No | - | |
![]() | No | - | |
![]() | No | - | |
![]() | No | - |
Amount €
${q.userNickname} | ${q.date}
${q.text}
EvoEstate | ${q.answerDate}
${q.answer}