Descripton

Introduction

Purpose of funding

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

Loan protection

• Pledge of a land plot with a building permit as a primary mortgage.

• Manager and shareholder guarantee.

Project investment return and interest payment

• Start of fundraising on Nordstreet platform: 2021-04-06

• Investment from 100 €.

• Annual investment return of the project from 11.25% (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: 16 months

• Interest is paid quarterly.

• The project can be partially funded by Invega Raspberry.

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 apartment project with partial refinancing of the loan and preparatory works for the land plot.

To ensure the need for financing, the Developer pledges the real estate under development, located at Kapsų St. 3, Vilnius City Municipality.

- 0.1427 hectare land plot (territories of multi-apartment residential buildings and dormitory objects, un.nr 4400-0534-6081);

The plot has a building permit issued, according to which a 7-storey 2270.54 m2 apartment building with commercial premises on the first floor and a 964.78 m2 parking lot will be developed.

Loan terms

• Loan amount: 310 000 EUR

• Loan term: 16 months

• Minimum loan term: 4 months

• Value of the mortgaged property:  503 000 EUR

• LTV (Loan-to-value ratio): 62%

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

• Loan protection: primary mortgage of an asset and shareholder and manager guarantee.

Interest:

• When investing from 100 € - interest 11.25%

• When investing from 500 € - interest 11.5%

• When investing from 1 500 € - interest 11.75%

• When investing from 3 000  € - interest 12%

• When investing from 7 500 € - interest 12.25%

• When investing from 15 000 € - interest 12.5%

Collateral information:

• Address of the pledged property: Kapsų str. 3, Vilnius City Municipality

• Type of real estate: areas of multi-apartment residential buildings and dormitories with a total area of ​​0.1427 hectares

• Value of the mortgaged property: 503 000 EUR

• Documentation: Asset Valuation Report

• Date of preparation of the report: 14 October 2020

• Evaluator: UAB Centro kubas

• Mortgage: primary mortgage

Borrower

LTD Sakinta carries out activities related to the development, administration and sale of real estate projects. The goal of the company, depending on the nature of the property, is to increase its overhead value - to sell successfully and profitably.

In addition, it is worth mentioning that there are other activities of LTD Sakinta related to legal, accounting and consulting services. The company, in cooperation with other companies, successfully advises on capital structure, optimization of the company's business concept, on company reorganization, reorganization and acquisition or establishment of new companies.

In 2020 The company tried to optimize its operations and ended the year with a minimum profit, which allowed the company to acquire a couple of real estate objects and thus increase the value of the company's balance sheet assets to more than EUR 1.15 million. The company also has a strong shareholder structure and its authorized capital is EUR 0.37 million.

Loan protection collateral

Purpose of a business loan

The financing requires an amount of € 310 000, which will be used for the planned development of an investment apartment project with the refinancing of a part of the loan and preparatory works for the land plot.

Loan collateral

Mortgage of the first line of existing real estate - Mortgage. The loan will be repaid from the sale of the company's development assets, current and future profits or after refinancing the loan.

Manager and shareholder guarantee.

Investment risk: C (higher)

LTV: 62%

Pledged property: 0.1427 hectare land plot with a construction permit (territories of multi-apartment residential buildings and dormitory objects, un.nr 4400-0534-6081,) address Kapsų str.3, Vilnius city municipality.

Value of mortgaged property: 503 000 EUR

Interest:

• When investing from 100 € - interest 11.25%

• When investing from 500 € - interest 11.5%

• When investing from 1 500 € - interest 11.75%

• When investing from 3 000 € - interest 12%

• When investing from 7 500 € - interest 12.25%

• When investing from 15 000 € - interest 12.5%

Loan term

16 months (with the possibility of repayment earlier, but not earlier than after a period of 4 months).

If the Borrower repays the Loan amount or a part thereof earlier than 4 months after the due date of 16 months, it undertakes to pay interest to the Lender for a period of 4 months. After a period of 4 months, the Borrower may repay the loan (together with the applicable interest) without any additional fees.

Company loan repayment period

Estimated start date of the loan: 2021 04 25

Expected repayment date of the loan: 2022 02 01 - 2022 04 01

Strengths and risks

SWOT analysis of the project beneficiary:

Strengths - First lien on existing real estate - Mortgage.

                  - Guarantee of a manager and shareholder

Weaknesses - Property is developing.

Opportunities - The borrower's expected average annual interest rate payable is 11.25 - 12.5%.

Threats - The current economic situation is unclear.