Project updates

Risk Rating

Criteria	From a+ to d	Project rating
Macro Location Analysis Financial Cost Loan To value Purpose of the loan Development's licence Borrower's experience Presales Guarantees	B+CA+B+A+B+AA+	A- Originator rating A- EvoEstate Risk rating is of an informative nature only & can not be considered investment advice.

Criteria

From a+ to d

Project rating

Macro Location Analysis

Financial Cost

Loan To value

Purpose of the loan

Development's licence

Borrower's experience

Presales

Guarantees

B+CA+B+A+B+AA+

A-

Originator rating

A-

EvoEstate Risk rating is of an informative nature only & can not be considered investment advice.

Descripton

Title of the project	Type of asset	Number of the construction permit for the project	Address of the project
Nineteenth stage of financing the project "Lofts, Elektrenu St.". The purpose of the loan is the conversion of administrative premises into apartments. Update on the success of this project: • During the financing period, 60 apartments have already been formed. Of these, 24 apartments, on the ground floor, are already rented and generate rental income. The planned rental income is 57,600 euros per year. • 16 apartments are already for rent on the second floor. The remaining 7 apartments on the second floor will be ready for 2020-11-20. The planned rental income is 72,000 euros per year. • 12 apartments have been formed on the third floor, they are ready for finishing. It is planned to start renting 12 apartments on the third floor after 5-6 weeks. • Installation of aluminum profiles on the fourth floor has started. Also, the borrower has installed 35 lofts in other premises at the same address that he has already rented. The rental income from these apartments covers the loan costs. For investors at all stages, the property is pledged as a primary mortgage. Maximum planned amount of project financing: Eur 1,300,000. The borrower will have the right to borrow additionally in other stages, provided that it does not exceed the maximum LTV of 55%. The project is financed according to the current valuation of the mortgaged property until it reaches the set maximum LTV. Once the maximum LTV is reached, a new valuation of the property will have to be performed and further stages of the Project financing will be announced and collected only if the set maximum LTV is not exceeded. At this stage, the loan-to-value ratio (LTV) is 44%. The borrower pays interest to upstream investors on time. An experienced developer has previously successfully implemented similar projects. We plan to collect the accumulated amount within 7 days with the possibility to extend it to 21 days. without raising funds.
Loftai, Kaunas XIX	Lofts	LIPR-21-170420-00035	Elektrenu st. 8N - 201; 8N 1-61
Area of the object (building)
3810sq.m.

Number of floors in the object (building)	Description of the site of the project	Description of repair/construction (detailed)
4	Everything you need for a comfortable life is located around the project under development. Nearby are several schools, kindergartens, a supermarket, a sports complex, a market, a polyclinic, a pharmacy, cafes, banks, a university and other service points important for modern people.	1fl 24 apartments have already been rented. 2fl 24 apartments are already for rent. 7 apartments will be ready by 20/11/2020. 3fl. formed 12 apartments, finishing. The rental is scheduled to start in 5-6 weeks. 4fl start installing wall profiles.

UPDATED REAL ESTATE EVALUATION 2020-07-24. The loan-to-value ratio (LTV) at this stage is 44%. For investors at all stages, the property is pledged as a primary mortgage.

Investors are pledged 59 apartments (with a total area of 2172.34 sq.m) and administrative premises (2371.12 sq.m). The assets will be used to secure the obligations of the project owner for other (additional) financing stages, provided that the project owner raises the value of the pledged property to such a level that would comply with the established maximum LTV - 55%.

When investing in this project, the funds invested in this and subsequent financing stages will be returned to the investors only after settling with the investors who have invested in the previous financing stages. This condition does not affect the priority of the investor's right to the collateral, the overall ratio between the collateral and the investment amount. This condition also does not apply in the event of termination of the loan agreement.

Property	Unique nr.	Address
Administrative premises	4400-4758-4670:6008	Elektrenu st. 8 N -201, Kaunas
Administrative premises	4400-4897-5591:4801	Elektrenu st. 8 N -1, Kaunas
Appartment	4400-4897-5604:4802	Elektrenu st. 8 N -2, Kaunas
Appartment	4400-4897-5615:4803	Elektrenu st. 8 N -3, Kaunas
Appartment	4400-4897-5626:4804	Elektrenu st. 8 N -4, Kaunas
Appartment	4400-4897-5637:4805	Elektrenu st. 8 N -5, Kaunas
Appartment	4400-4897-5648:4806	Elektrenu st. 8 N -6, Kaunas
Appartment	4400-4898-0003:4807	Elektrenu st. 8 N -7, Kaunas
Appartment	4400-4898-0036:4808	Elektrenu st. 8 N -8, Kaunas
Appartment	4400-4898-0047:4809	Elektrenu st. 8 N -9, Kaunas
Appartment	4400-4898-0058:4810	Elektrenu st. 8 N -10, Kaunas
Appartment	4400-4898-0069:4811	Elektrenu st. 8 N -11, Kaunas
Appartment	44004898-0076:4812	Elektrenu st. 8 N -12, Kaunas
Appartment	4400-4898-0080:4813	Elektrenu st. 8 N -13, Kaunas
Appartment	4400-4898-0090:4814	Elektrenu st. 8 N -14, Kaunas
Appartment	4400-4898-0114:4815	Elektr?n? g. 8 N -15, Kaunas
Appartment	4400-4898-0125:4816	Elektrenu st. 8 N -16, Kaunas
Appartment	4400-4898-0178:4820	Elektrenu st. 8 N -17, Kaunas
Appartment	4400-4898-0147:4817	Elektrenu st. 8 N -18, Kaunas
Appartment	4400-4898-0158:4818	Elektrenu st. 8 N -19, Kaunas
Appartment	4400-4898-0169:4819	Elektrenu st. 8 N -20, Kaunas
Appartment	4400-4898-0203:4821	Elektrenu st. 8 N -21, Kaunas
Appartment	4400-4898-0214:4822	Elektrenu st. 8 N -22, Kaunas
Appartment	4400-4898-0225:4823	Elektr?n? g. 8 N -23, Kaunas
Appartment	4400-4898-0236:4824	Elektrenu st. 8 N -24, Kaunas
Appartment	4400-4898-0247:4825	Elektrenu st. 8 N -25, Kaunas
Appartment	4400-4898-0258:4826	Elektrenu st. 8 N -26, Kaunas
Appartment	4400-4898-0290:4827	Elektrenu st. 8 N -27, Kaunas
Appartment	4400-4898-0325:4828	Elektrenu st. 8 N -28, Kaunas
Appartment	4400-4898-0336:4829	Elektrenu st. 8 N -29, Kaunas
Appartment	4400-4898-0347:4830	Elektrenu st. 8 N -30, Kaunas
Appartment	4400-4898-0358:4831	Elektrenu st. 8 N -31, Kaunas
Appartment	4400-4898-0658:4835	Elektrenu st. 8 N -32, Kaunas
Appartment	4400-4898-0369:4832	Elektrenu st. 8 N -33, Kaunas
Appartment	4400-4898-0370:4833	Elektrenu st. 8 N -34, Kaunas
Appartment	4400-4898-0384:4834	Elektrenu st. 8 N -35, Kaunas
Appartment	4400-5491-4511:8401	Elektrenu st. 8 N - 37, Kaunas
Appartment	4400-5491-4522:8402	Elektrenu st. 8 N - 38, Kaunas
Appartment	4400-5491-4533:8403	Elektrenu st. 8 N - 39, Kaunas
Appartment	4400-5491-4544:8404	Elektrenu st. 8 N - 40, Kaunas
Appartment	4400-5491-4555:8405	Elektrenu st. 8 N - 41, Kaunas
Appartment	4400-5491-4588:8406	Elektrenu st. 8 N - 42, Kaunas
Appartment	4400-5491-4599:8407	Elektrenu st. 8 N - 43, Kaunas
Appartment	4400-5491-4600:8408	Elektrenu st. 8 N - 44, Kaunas
Appartment	4400-5491-4611:8409	Elektrenu st. 8 N - 45, Kaunas
Appartment	4400-5491-4622:8410	Elektrenu st. 8 N - 46, Kaunas
Appartment	4400-5491-4633:8411	Elektrenu st. 8 N - 47, Kaunas
Appartment	4400-5491-4644:8412	Elektrenu st. 8 N - 48, Kaunas
Appartment	4400-5491-4655:8413	Elektrenu st. 8 N - 49, Kaunas
Appartment	4400-5491-4666:8414	Elektrenu st. 8 N - 50, Kaunas
Appartment	4400-5491-4677:8415	Elektrenu st. 8 N - 51, Kaunas
Appartment	4400-5491-4699:8417	Elektrenu st. 8 N - 53, Kaunas
Appartment	4400-5491-4700:8418	Elektrenu st. 8 N - 54, Kaunas
Appartment	4400-5491-4711:8419	Elektrenu st. 8 N - 55 Kaunas
Appartment	4400-5491-4722:8420	Elektrenu st. 8 N - 56, Kaunas
Appartment	400-5491-4744:8421	Elektrenu st. 8 N - 57, Kaunas
Appartment	4400-5491-4811:8426	Elektrenu st. 8 N - 58, Kaunas
Appartment	4400-5491-4755:8422	Elektrenu st. 8 N - 59, Kaunas
Appartment	4400-5491-4777:8423	Elektrenu st. 8 N - 60, Kaunas
Appartment	4400-5491-4799:8424	Elektrenu st. 8 N - 61, Kaunas

Address of the pledged asset	Independent assessor	Value of the pledged asset by independent assessment
Elektrenu st. 8N - 201; 8N 1-61	UAB "Kovertas"	2 304 400 €

Type	Investment purpose	Requested amount to be funded	Investment period*
Loan	Conversion of administrative premises into appartments	60 000 €	18 month
LTV	Time remaining	Investment repayment form	Frequency of payment of interest
44% (max. 55%)	7 days	At the end of the period	Once per quarter
Source of payment of interest	Annual interest rate
Company funds, rent income	7%
*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).

Type	Title of the company	Company code
Legal entity	UAB "Pagal mus"	304310362

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Documents

Payment schedule

Date	Status	Late	Assignment date
30.01.2021	Paid	No	02 February 2021, 00:00
30.04.2021		No	-
30.07.2021		No	-
30.10.2021		No	-
30.01.2022		No	-
30.04.2022		No	-