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Criteria | From a+ to d | Project rating |
---|---|---|
Macro Location Analysis | A+ | A- Originator rating A EvoEstate Risk rating is of an informative nature only & can not be considered investment advice. |
Purchase Price/Land Price | A+ | |
Financial Cost | C- | |
Loan To value | B+ | |
Purpose | A+ | |
License | A+ | |
Experience Developer | B | |
Presales | D- | |
Mortgage Guarantee | A+ |
Purpose of funding
Loan protection
Project investment return and interest payment
Nordstreet takes these measures to guarantee a safe investment
The 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.
- Non-residential premises (administrative purpose) 4400–1976-2658:8830 with a total area of 60.11 m2.
Loan terms
Loan amount: 86 250€
Loan term: 12 months
Minimum loan term: 6 months
Value of mortgaged property: 125 000 €
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 Payment: Interest is paid monthly.
Repayment of the amount invested: at the end of the loan period.
Interest:
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
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 11 02
Expected repayment date of the loan: 2021 06 01 - 2021 07 01
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 86 250 € 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: Non-residential premises with a total area of 60.11 m2 (administrative purpose), address Lelevelio str.4, Vilnius.
Collateral information:
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
- Mortgaged property is limited, has an attachment and a mortgage.
Opportunities
-The borrower's expected average annual interest rate payable is 10%.
- Before the notarial transaction, indoor encumbrances will be removed and put in order.
Threats
- If the collateral is encumbered, then loan financing will not be granted.
Date | Status | Late | Assignment date |
---|---|---|---|
10.12.2020 | Paid | No | 11 December 2020, 11:24 |
10.01.2021 | Paid | No | 08 January 2021, 18:11 |
10.02.2021 | Paid | No | 08 February 2021, 18:20 |
10.03.2021 | Paid | No | 08 March 2021, 13:31 |
10.04.2021 | Paid | No | 06 April 2021, 11:29 |
10.05.2021 | Paid | No | 07 May 2021, 18:02 |
10.06.2021 | Paid | No | 10 June 2021, 16:41 |
10.07.2021 | Paid | No | 06 July 2021, 20:21 |
10.08.2021 | Paid | No | 09 August 2021, 11:37 |
10.09.2021 | Paid | No | 12 September 2021, 11:54 |
10.10.2021 | Paid | No | 10 October 2021, 10:48 |
10.11.2021 | Paid | No | 13 December 2021, 21:33 |
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Amount €