Criteria | From a+ to d | Project rating |
---|---|---|
Macro Location Analysis | C+ | B Originator rating A EvoEstate Risk rating is of an informative nature only & can not be considered investment advice. |
Financial Cost | D+ | |
Loan To value | A+ | |
Purpose of the loan | B+ | |
Development's licence | A+ | |
Borrower's experience | B+ | |
Presales | D- | |
Guarantees | A+ |
Purpose of funding
Additional financing of a land plot with a building development project.
Loan protection
Nordstreet takes these measures to guarantee a safe investment
Object of the loan
The object of the loan is the additional financing of a development land plot with a building with the aim of completing the project under development. (negotiations are currently underway with a potential buyer of part of the building)
To ensure the need for financing, the Developer pledges the real estate under development to a plot of land located at Žilvino St. 7, Palanga, Lithuania, with a total area of 0.1818 hectares with an existing building of 238.35 m2;
Loan terms
• Loan amount: EUR 120 000 (2nd stage)
• Loan term: 8 months
• Minimum loan term: none
• Value of mortgaged property: € 478 000
• LTV (Loan-to-value ratio): 62%
• Project risk: B (medium). You can read the project owner's evaluation rules here.
• Loan protection: mortgaging property on a primary mortgage
Interest:
• When investing from 100 EUR - interest 11%
• When investing from 2 500 EUR - interest 11.5%
• When investing from 5 000 EUR - interest 12%
• When investing from 15 000 EUR - interest 12.5%
Collateral information:
• Address of the pledged property: Žilvino str. 7, Palanga
• Property type: a plot of land for low-rise residential purposes
• Value of the mortgaged property: 478 000 EUR
• Documentation: property valuation
• Report preparation date: 26th March 2021
• Appraiser: UAB Nill nill property appraisal agency
Project developer - UAB ESSCALA real estate, which specializes in project search, development and sales. The company’s shareholders and executives have developed successful real estate projects in the coastal region, and the company continues to successfully administer and lease existing properties.
For additional information about the developer project: https://www.esscala.lt/
Purpose of a business loan
Additional funding requires an amount of € 120 000 to complete the project under development.
Loan collateral
Mortgage of the first line of existing real estate - Mortgage. The loan will be repaid after the sale of all / part of the pledged property, from the sale of the company's development assets, current and future profits or after refinancing the loan.
Investment risk: B (medium)
LTV: 62%
Mortgage property: Land plot (low-rise residential houses, No. 2501-0017-0011 and existing building No. 4400-5573-3032), with a total area of 0.1818 hectares and 238.35 m2, at Žilvino str.7, Palanga, Lithuania .
Value of mortgaged property: € 478 000
Interest:
• When investing from 100 EUR - interest 11%
• When investing from 2 500 EUR - interest 11.5%
• When investing from 5 000 EUR - interest 12%
• When investing from 15 000 EUR - interest 12.5%
Loan term
8 months. (opportunity to repay earlier)
Company loan repayment period
Estimated start date of the loan: 2021 04 10
Expected repayment date of the loan: 2021 09 01 - 2021 10 01
SWOT analysis of the project beneficiary:
Strengths - First lien on existing real estate - Mortgage.
Weaknesses - Collateral assets are developing.
Opportunities - The borrower's expected average annual interest rate payable is 11 - 12.5%.
Threats - The current economic situation is unclear.
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