Descripton

Introduction

Purpose of funding

• Land plot development project and preparatory land plot works (you can get acquainted with the visualizations of the future building and project in the project photos)

Loan protection

• Pledge of a part of the land plot with a primary mortgage.

Project investment return and interest payment

• Start of fundraising on the Nordstreet platform: 2021-02-26

• 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 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 period 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 planned to develop an investment project for a potential buyer and preparatory works for the land plot.

To ensure the need for financing, the Developer pledges a part of the real estate under development, located at the address Ukmergės str.326, Vilnius City Municipality.

- part of a land plot of 0.2500 hectares (other territories of commercial objects), un.nr 4400-0869-1547, the total area of ​​which is 0.8497 hectares;;

The plot is located in one of the main commercial parts of Vilnius, on the main road entering Vilnius. The project of storage and administrative premises is planned on the plot, the total area of ​​which will reach 3600 m2 according to the possibilities of the plot.

Loan terms

• Loan amount: 330 000 EUR

• Loan term: 12 months

• Minimum loan term: none

• Value of the mortgaged property:  472 025 EUR

• LTV (Loan-to-value ratio): 70%

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

• Loan protection: pledging part of an asset as a primary mortgage.

Interest:

• When investing from 100 € - interest 11%

• When investing from 1 000 € - interest 11.25%

• When investing from 2 500 € - interest 11.5%

• When investing from 10 000  € - interest 11.75%

• When investing from 25 000 € - interest 12%

Collateral information:

• Address of the pledged property: Ukmergės st. 236, Vilnius City Municipality

• Type of real estate: Land plot (other areas of commercial objects) with a total area of ​​0.8497 hectares

• Value of the mortgaged property: 472 025 EUR

• Documentation: Asset Valuation Report

• Date of preparation of the report: 8th December 2020

• Evaluator: UAB Giantus valuation

• Mortgage: primary mortgage

Borrower

Legal entity OU (Estonia) Intcap, engaged in consulting, purchasing and development of the real estate.

The company has experienced staff who are well versed in their work and the specifics of real estate. The company's balance sheet assets amount to more than 75k Eur, and the years of operation in 2019 and 2020 were profitable.

Loan protection collateral

Purpose of a business loan

The financing requires an amount of € 330,000, which will be used to start a development project with a potential buyer with preparatory works for the land plot.

Loan collateral

Mortgage of the first line of existing real estate part (0.2500 ha) - 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: 70%

Pledged property: 0.2500 hectare land plot (other territories of commercial objects), un.nr 4400-0869-1547, the total area of ​​which is 0.8497 hectares, address Ukmergės str.326, Vilnius city municipality..

Value of mortgaged property: 472 025 EUR

Interest:

• When investing from 100 € - interest 11%

• When investing from 1 000 € - interest 11.25%

• When investing from 2 500 € - interest 11.5%

• When investing from 10 000 € - interest 11.75%

• When investing from 25 000 € - interest 12%

Loan term

12 months (with the possibility of repayment earlier).

Company loan repayment period

Estimated start date of the loan: 2021 03 10

Expected repayment date of the loan: 2021 10 01 - 2022 02 01

Strengths and risks

SWOT analysis of the project beneficiary:

Strengths         - First lien on existing real estate part - Mortgage.

Weaknesses   - The project is developing.

Opportunities - The borrower's expected average annual interest rate payable is 11 - 12%.

Threats            - Uncertain economic situation.

The Borrower's shareholder is related to Nordstreet's shareholder. Therefore, this crowdfunding transaction involves additional potential conflicts of interest. However, PLC Nordstreet ensures that it will act in the best interests of its clients - investors, properly manage potential conflicts of interest and potential risks. It is important to mention that Nordstreet's shareholder does not interfere in decision-making, project evaluation and approval.