|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
|The purpose of the loan of the project „Patalpos Birzelio 23-iosios g.“ is to finance the previous loan. The previous loan was used for the acquisition of mortgaged real estate. The project owner covered 50% of the funds of the purchase price of the asset.|
To ensure the interests of investors, the initial mortgage pledges 945,9 sq. m. area of premises in Birželio 23rd st.12-201, Vilnius. Reconstruction works will be carried out in these premises, during the reconstruction of the premises UAB Neoloftas intends to increase the area of the object due to the installation of the four-floor to 1,168 sq. m, (it is planned to install 25 lofts, on average 45-47 sq. m each).
Following the acquisition of the facility, the co-owners of the entire building intend to sign a joint venture agreement for the reconstruction of the building with a construction contractor. This company will carry out project administration, design, general contractor sourcing, and other necessary processes to properly implement the project.
Reconstruction is planned to start by this July, by which time all necessary permits are to be obtained. By the end of 2021, it is planned to install 30% of the lofts. The rest - in the coming years.
The main activity of the group of enterprises to which the developer belongs is the construction of residential and non-residential buildings. The refinancing of the loan is required until the sales of the project under development are started. This loan will therefore be repaid from the proceeds of the sale of the real estate.
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||Unique number of the project||Address of the project||Purpose and area of the parcel of land|
|Patalpos Birzelio 23-iosios g.||4400-4583-9230:7807||Birzelio 23 iosios st. 12, Vilnius||The Republic of Lithuania is the owner of the state land plot in the Real Estate Register|
|Year of construction of the object of the project||Area of the object (building)|
|Number of floors in the object (building)||Duration of repair/construction||Description of the site of the project|
|3||12 months.||The object is located in the city of Vilnius, in a block bounded by Smolensko, Birzelio 23-iosios, Statybininku and T. Sevcenkos streets. The territory of the developed object is directly adjacent to Birzelio 23-iosios St., from where there are entrances to the plot. In the northern part there is a plot, the user of which is the Vilnius County Chief Police Commissariat. On the western side of the building is a new block of apartment buildings|
To protect the interests of investors, 945.9 sq. m of premises, at Birzelio 23-iosios st. 12-201, in Vilnius.
|Non-residential premises||Vilnius, Birzelio 23-iosios st. 12-201||4400-4583-9230:7807||945,9 sq. m|
|Address of the pledged asset||Unique number of the pledged asset||Independent assessor||Value of the pledged asset by independent assessment|
|Birželio 23 iosios st. 12, Vilnius||4400-4583-9230:7807||UAB Capital vertinimas||569 000 €|
|Type||Investment purpose||Requested amount to be funded||Investment period*|
|Loan||Refinancing||234 000 €||18 month|
|LTV||Time remaining||Investment repayment form||Frequency of payment of interest|
|42%||-||At the end of the period||Once per quarter|
|Source of payment of interest||Annual interest rate|
|The loan will be repaid from sales revenue||8%|
|*Note. The real estate developer can repay part of the loan or the entire loan earlier, but the interest paid jointly must be at least 3 months.|
|Type||Title of the company||Company code|
|Legal entity||UAB Neoloftas||305591720|