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Update from the originator:
"We inform you that we have updated the announcement of the pledged property on the aruodas.lt portal ( https://www.aruodas.lt/sklypai-vilniaus-rajone-putiniskiu-k-vilniaus-g-parduodami-slypai-putiniskiu-k-11-1336658/ ). So far, the property has not attracted much interest. We will inform you when the negotiations with a potential buyer are started. Best regards, Nordstreet team."
Criteria | From a+ to d | Project rating |
---|---|---|
Macro Location Analysis | C+ | B Originator rating A EvoEstate Risk rating is of an informative nature only & can not be considered investment advice. |
Financial Cost | D+ | |
Loan To value | A+ | |
Purpose | C+ | |
License | A+ | |
Experience Developer | A+ | |
Presales | D- | |
Mortgage Guarantee | A+ |
• Refinancing of the land development project with the aim to extend the loan period until the best conditions are discussed, found and signed in the procedure of sale of the land to potential investors. (negotiations are currently underway with potential buyers)
Loan protection
• Pledge of a land plot with a primary mortgage.
Project investment return and interest payment
• Start of fundraising on the Nordstreet platform: 23rd of November , 2020
• Investment from 50 €
• Annual investment return of the project from 11.5% (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.
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.
Object of the loan
The object of the loan is the refinancing of a development project with the aim to extend the loan period until the best conditions are discussed, agreed and signed in the procedure of selling the plot to potential investors.
To ensure the need for financing, the Developer repeatedly pledges the developed real estate located at Vilniaus St. 38B, Putiniškių km, Vilnius district, the total area of which is 0.7920 hectares; (property pledged to Nordstreet)
Loan terms
• Loan amount: EUR 190,000
• Loan term: 12 months
• Minimum loan term: 4 months
• Value of the mortgaged property: € 341,000
• LTV (Loan-to-value ratio): 56%
• Project risk: B (medium). You can read the project owner's evaluation rules here.
• Loan protection: mortgaging property on a primary mortgage
Interest:
• When investing from 100 € - interest 11.5%
• When investing from € 5,000 - interest 12%
• When investing from 10 000- € - interest 12.5%
Collateral information:
• Address of the pledged property: Vilniaus st. 38B, Putiniškės, Vilnius district.
• Property type: a plot of land for commercial use
• Value of the mortgaged property: € 341,000
• Documentation: property valuation
• Report preparation date: 10 July. 2019
• Appraiser: UAB Cre pro Property Appraisal Agency
Project developer - Private Limited Liability Company "Suntracker LT", the board of which is related to SORETTO holding B.V. Representative of a Dutch company engaged in the production and sale of furniture throughout Europe in Lithuania. The company's shareholders and management have experience with real estate investments, their management and administration, and in Lithuania they plan to build a planned administrative and warehousing project, which will produce part of the products for other markets.
Purpose of a business loan
The refinancing requires an amount of € 190,000, which will be used to extend the loan period until the best conditions are discussed, agreed and signed, in the procedure of selling the plot, to potential investors.
Loan collateral
Mortgage of the first line of existing real estate - Mortgage. The loan will be repaid from the sale of the mortgaged property, from the sale of the company's development assets, current and future profits or by refinancing the loan.
Investment risk: B (medium)
LTV: 56%
Pledged property: Land plot (commercial use, Nr.4400–1801-1386), the total area of which is 0.7920 hectares, address Vilniaus st.38B, Putiniškių village, Vilnius district.
Value of mortgaged property: € 341,000
Interest:
• When investing from 100 € - interest 11.5%
• When investing from € 5,000 - interest 12%
• When investing from 10 000- € - interest 12.5%
Loan term
12 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 12 months, it 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.
Company loan repayment period
Estimated start date of the loan: 2020 12 07
Expected repayment date of the loan: 2021 04 01 - 2021 06 01
SWOT analysis of the project beneficiary:
Strenght - Primary mortgage on existing real estate.
Weaknesses - a mortgage is refinanced. (mortgage now pledge for Nordstreet platform)
Options - The borrower's expected average annual interest rate payable is 11.5 - 12.5%.
Threats - The current economic situation is unclear.
Date | Status | Late | Assignment date |
---|---|---|---|
04.01.2021 | Paid | No | 11 January 2021, 18:49 |
04.02.2021 | Paid | No | 22 February 2021, 13:50 |
04.03.2021 | Paid | No | 07 April 2021, 18:49 |
04.04.2021 | Paid | No | 31 May 2021, 15:36 |
04.05.2021 | Paid | No | 13 August 2021, 20:09 |
04.06.2021 | Paid | No | 13 August 2021, 20:10 |
04.07.2021 | Paid | No | 15 August 2021, 10:09 |
04.08.2021 | Paid | No | 15 August 2021, 10:10 |
04.09.2021 | Paid | No | 21 October 2021, 14:46 |
04.10.2021 | Paid | No | 26 November 2021, 18:01 |
04.11.2021 | Paid | No | 19 December 2021, 13:41 |
04.12.2021 | Yes | - |
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If for any of the reasons you can not wait for an update, consider trying to reach out to originator support directly.
Amount €