|Criteria||From a+ to d||Project rating|
Macro Location Analysis
EvoEstate Risk rating is of an informative nature only & can not be considered investment advice.
Loan To value
Purpose of the loan
|Staged project for real estate development "Riešes dvibutis". This is the first phase of this project, the amount collected is 127,000 euros.|
10.6 acres of land, located in a one-room residential house with a total area of 349.84 sq. m., will be transformed into a two-bedroom house. The estimated sale price of one part of the house, with full partial finishing, is 185,000 EUR. Currently, the house is not finished, with a roof, windows and doors. The funds collected at this stage of financing will be used to continue construction works, to form separate apartments.
As a guarantee to investors, real estate is pledged, which will be developed - 349.84 sq. m. residential house with a 10.6-acre plot of land, address Vanagines Sodu 5th str. 1, Vilnius district. Investors at all stages will be pledged the property with a primary mortgage
Maximum planned Project financing amount: 250,000 Eur. The borrower will have the right to borrow additionally in other stages, provided that it does not exceed the maximum LTV of 70%. 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.
We plan to collect the accumulated amount within 7 days with the possibility to extend it to 21 days. without raising funds.
|Title of the project||Address of the project||Area of the object (building)|
|Riešės dvibutis||Vanagines Sodu 5th st. 1, Vilnius district||349sq.m.|
|Number of floors in the object (building)||Description of the site of the project||Description of repair/construction (detailed)|
|2||The object under development is located in the village of Didžioji Rieše, which is located near the northern border of Vilnius, on the left side of Moletai highway. The settlement is undergoing rapid development of residential quarters, dominated by new one-room and two-apartment houses. Right next to the shopping center "Link Moletu", where you can find all the necessary services, right next to the Vanagyre reserve for quiet walks.||In the near future, there will be a waste for the installation of new partitions and the formation of separate apartments.|
To protect the interests of investors, real estate is pledged - 349.84 m² residential house with a plot of 10.6 acres. The registered completion of the mortgaged house is 78%.
During this financing stage, the property pledged to investors 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 as to meet the maximum LTV of 70%.
When investing in this project, the funds invested in the subsequent financing stages will be returned to the investors only after the settlement with the investors who have invested in this financing stage. 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.
Investors at all stages will be pledged the property with a primary mortgage.
Vanagines Sodu 5th st. 1, Vilnius district
Building - One-room residential house
Vanagines Sodu 5th st. 1, Vilnius district
|Address of the pledged asset||Independent assessor||Value of the pledged asset by independent assessment|
|Vanagines Sodu 5th st. 1, Vilnius district||UAB „Centro kubas-nekilnojamasis turtas”||197 000 €|
|Type||Investment purpose||Requested amount to be funded||Investment period*|
|Loan||RE development||127 000 €||12 month|
|LTV||Time remaining||Investment repayment form||Frequency of payment of interest|
|65% (max 70%)||7 days||At the end of the period||Once per quarter|
|Source of payment of interest||Annual interest rate|
|* Note. The real estate developer can repay part or all of the loan earlier, but the co-paid interest must be at least 3 months.|
|Type||Title of the company||Company code||VAT payer’s code|
|Legal entity||UAB „Verutus“||300635134||LT100004888615|
|30.04.2021||Paid||No||04 May 2021, 12:25|