S63 loftai

Vilnius, Lithuania

110 000.00 €

Raised 110 000.00 €

7.5% Net annual
yield
66%LTV
12 Months

Listed: 2021-03-16

Type: Purchase Loan

Mortgage rank: First

Interest payment schedule: Quarterly

Min. amount of investment - € 100

Project originated by:

Project updates

Risk Rating

Criteria	From a+ to d	Project rating
Macro Location Analysis	A+	B+ Originator rating A- EvoEstate Risk rating is of an informative nature only & can not be considered investment advice.
Financial Cost	C-
Loan To value	A
Purpose of the loan	B+
Borrower's experience	B
Presales	D-
Guarantees	A+

Detail Descripton

Title of the project	Address of the project
We present a stage project for investment "S63 loftai". Funding collected for the acquisition and development of the attic Savanoriu ave. 63, Vilnius. The amount to be collected in the first funding phase is EUR 110 000 "S63 loftai" is a new project in Vilnius, on the left bank of the Neris, near Vingis Park. Strategically convenient location to reach any point of the city on foot, by public transport or by car. By car to the city center - just 6 minutes away! It is planned to install 5 loft-type apartments on the premises, the area of each apartment is 50 square meters. The planned end of the project is December 2021. The estimated selling price is EUR 1,980 per square meter. The planned sales revenue of the whole project is more than 450 thousand. EUR. The project owner has experience with the development of attic premises - has successfully developed and sold similar types of attics. In the interests of investors, 217.73 square meters of shelter premises and a brick house in Vilnius, Savanoriu ave. 63-6A. According to the real estate appraiser, the value of the real estate was set at EUR 169,000. Investors at all stages will be mortgaged on the primary mortgage. The maximum amount of financing is EUR 350,000. The borrower will have the right to borrow additionally in other stages, provided that it does not exceed the maximum set LTV of 70%. The project is financed according to the current valuation of the mortgaged property until it reaches the set maximum LTV. The loan-to-value ratio (LTV) at this stage is 66%. Interest by investment amount: - From EUR 100 to EUR 499 - 7,5% - EUR 500 to EUR 2 999 - 8% - From EUR 3 000 to 8,5% Important: individual investments are not aggregated. We plan to collect the accumulated amount within 7 days with the possibility to extend it to 21 days. without raising funds.
S63 loftai	Savanoriu ave. 63, Vilnius

Description of the site of the project
The project will be developed in Vilnius, where Naujamiestis connects with Vilkpede, on the left bank of the Neris, near Vingis Park and the most important points of the city.

For investors at all stages, the property is pledged as a primary mortgage.

As a guarantee, real estate is pledged to investors: it is planned to reconstruct 217.73 sq.m. shelter, address Savanoriu ave. 63-6A, Vilnius.

Objektas	Adresas	Unikalus numeris	Plotas
Non-residential room - unfurnished shelter	Vilnius, Savanoriu pr. 63-6A	4400-4253-9191:1322	217,73 sq.m.

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.

Address of the pledged asset	Unique number of the pledged asset	Independent assessor	Value of the pledged asset by independent assessment
Vilnius, Savanoriu ave. 63-6A	4400-4253-9191:1322	UAB "Kovertas"	169 000 €
Other securities (collateral, surety, etc.)
-

Type	Investment purpose	Requested amount to be funded	Investment period*
Loan	Reconstruction	110 000 €	12 month
LTV	Time remaining	Investment repayment form	Frequency of payment of interest
66% (max. 70%)	-	At the end of the period	Once per quarter
Source of payment of interest	Annual interest rate
Real estate sales revenue	7,5-8,5%
* 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 Šilko namai	304694895	LT100011291017

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Documents

Payment schedule

Date	Status	Late	Assignment date
30.06.2021	Paid	No	01 July 2021, 16:17
30.09.2021		No	-
30.12.2021		No	-
30.03.2022		No	-