|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
|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.
|Title of the project||Address of the project|
|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.
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|