Descripton

Introduction

Purpose of funding

• Residential refinancing loan. (you can get acquainted with the photos of the existing apartment in the project photos)

Loan protection

• Pledge of premises with a primary mortgage.

Project investment return and interest payment

• Start of funding collection on the Nordstreet platform: 2020 November 6th

• Investment from 100 €

• Annual investment return of the project from 11% (investment conditions are described in more detail in the Detailed information section)

• 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: 12 months

• Interest is paid monthly.

• The project can be partially funded by the Invega Raspberry Program.

Nordstreet takes these measures to guarantee 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.

• By investing in a project, financiers acquire claim rights. Nordstreet may make it possible to transfer these claim rights to other users of the platform in the Secondary Market in accordance with the terms of use.

• The activities of UAB Nordstreet are supervised by the Bank of Lithuania and included in the Public List of Operators of Concentrated Financing Platforms administered by the Bank of Lithuania.

Business loan terms

Object of the loan

The object of the loan is the refinancing of a loan for a residential apartment under development with the aim of selling the apartment and repaying the loan.

To ensure the need for financing, the Developer pledges real estate located at Lvovo st. 11-32, Vilnius City Municipality.

- Living space - apartment, 4400–5336-3650: 9438, with a total area of ​​79.75 m2;

Loan terms

• Loan amount: € 70,000

• Loan term: 12 months

• Minimum loan term: 3 months

• Value of the mortgaged property: € 118,000

• LTV (Loan-to-value ratio): 59%

• Project risk: C (higher). You can read the project owner's evaluation rules here.

• Loan protection: mortgaging property on a primary mortgage

Interest:

• When investing from 100 € - interest 11%

• When investing from € 5,000 - interest 11.5%

Collateral information:

• Address of the pledged property: Lvovo st.11-32, Vilnius City Municipality

• Type of real estate: Living premises (apartment) with an area of ​​79.75 m2

• Value of the mortgaged property: € 118,000

• Documentation: Asset Valuation Report.

• Date of preparation of the report: 28 April. 2020

• Evaluator: UAB Kovertas valuation

• Mortgage: senior mortgage

Borrower

Legal entity Statmetra, has experience in various real estate residential projects in Vilnius and beyond. The company is engaged in real estate construction and contracting as well as development and sales process and / or renovation of buildings.

The team has an experienced team of builders who are well versed in the specifics of their work and projects and work with the best in their class who have a great deal of environmental knowledge and understanding.

This year the company successfully builds 2 real estate projects, one in Pilaitė and near Vilnius.

Loan protection collateral

Purpose of a business loan

The financing requires an amount of € 70,000, which will be used to refinance the mortgage loan.

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: C (higher)

LTV: 59%

Mortgage property: 79.75 m2 of living space (apartment) with a total area, at Lvovo str. 11-32, Vilnius.

Value of mortgaged property: € 118,000

Interest:

• When investing from 100 € - interest 11%

• When investing from € 5,000 - interest 11.5%

Loan term

12 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 part thereof earlier than 3 months after the due date of 12 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.

Company loan repayment period

Estimated start date of the loan: 2020 11 21

Expected repayment date of the loan: 2021 05 01 - 2021 06 01

Strengths and risks

SWOT analysis of the project beneficiary:

Strenghts - First lien on existing real estate - Mortgage.

                    - The borrower has successfully raised funding on the Nordstreet platform for the development of the same project.

                   - The location of the mortgaged property is attractive, the property is liquid. (The project is being successfully developed, in which 3 out of 4 apartments are for sale.)

Weaknesses - The mortgaged property is not fully equipped.

Opprtunities - The borrower's expected average annual interest rate payable is 11-11.5%.

Threats - Possible delays for the borrower. (information based on available past payment delays)