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Update from the originator:
During the cooperation with the borrower on refinancing, a situation arose when, following the principles of efficiency and mutual cooperation, it was decided to benevolently reduce the amount of compensatory interest. The originator, representing the interests of the investors, waived all of its share of the amount receivable in the administration of compensatory interest in the name of the fact that a responsible and exemplary borrower would refinance the loan to the originator and allow the investors of this platform to earn additional interest. It is important to mention that these actions were taken in a rather intense economic situation, with the perspective that all parties would have all the opportunities to pay and recover the necessary funds with additional benefits.
Criteria | From a+ to d | Project rating |
---|---|---|
Macro Location Analysis | C+ | C+ Originator rating A EvoEstate Risk rating is of an informative nature only & can not be considered investment advice. |
Financial Cost | D+ | |
Loan To value | B- | |
Purpose | C+ | |
License | C+ | |
Experience Developer | D+ | |
Presales | D- | |
Mortgage Guarantee | A+ |
Purpose of the loan - Real estate development
Amount of funding 210 000 €
Value of collateral 282 000 €
LTV 75 %
Risk D (high)
Payment of interest every month
Loan repayment - At the end of the loan period
Loan period 12 mo.
Minimum loan period 3 mo.
Collateral - Real estate pledge
Mortgage rank - First order mortgage
Purpose of the Loan: The acquisition and development of a land plot, address Ukmergės st. 18A, Kaunas, Lithuania total area 0,2814 hectares, I/d. 4400-0591-0216, the purpose of the land plot – Residential. The loan will be returned from sales revenue of real estate or refinancing the loan.
Investment from 100 €.
The Interest on the Loan Amount shall be calculated from and including the date of disbursement of the Loan Amount to the Borrower's Account or to such other account (or accounts) as notified by the Borrower to the Operator in writing prior to the disbursement of the Loan Amount.
Loan period 12 mo.
Minimum loan period 3 mo.
Loan repayment at the end of the loan period
Estimated start date of the loan:*2021-07-01
Estimated loan repayment date:*2022-07-01
If the Borrower repays the Loan earlier than after the specified minimum loan period, it undertakes to pay interest to the Lender for the entire specified minimum period.
* The loan is planned to be repaid by the end of the project term from the expected growing income of the company, increasing profits, sale of assets or refinancing of the loan.
Company code 305777319
Skiltus LTD is a new company and was found solely for the development of residential real estate in Ukmerges st. 18A, Kaunas. The company has an experienced team in residential and commercial real estate development.
Collateral - Real estate pledge
Property Type - Residential
Mortgage rank - First-order mortgage
Value of collateral - 282 000 €
LTV - 75%
Documentation - Asset Valuation Report
Report preparation date - 2021-05-12
Assessor - UAB Newsec Valuations
The Place
Eiguliai district. The plot is situated in a quiet and peaceful place, a bit aside from the main Eguliai district streets. Currently, the land plot is being used as a recreational and most of the land plot area is covered by trees and grass. The land plot is clean, that no buildings on it. Nearby there are shops, kinder gardens, schools, and retail and commercial companies. It has great connectivity with a centre of Kaunas, medical and care facilities, highway A1. The land plot has all communications nearby ready to connect. Eiguliai district situated in economic zone territory.
Project technical measurements
6 store residential building with underground parking
55 flats, 57 parking places
Land plot - 0,2814 hectares
Land plot coverage - 766 m2
Land plot coverage - 28%
Land plot intensity - 107 % (Main city plan allows up to 120%)
Total building size - 3000 m2
Projected costs
Cost of construction 850 EUR/m2, overall costs - 1135,27 EUR/m2. Overall space 4500 sq.m., Sellable space - 2 683 sq./m. Overall space vs sellable space - 89,43 %.
Projected income
Projected flat price 1322,31 EUR/sq.m. excluding VAT, 1600 EUR including VAT/sq.m. Parking lot price per unit - 12 000 EUR. Overall flat projected income - 3547 768,8 EUR excluding VAT, parking - 565289,26 EUR, Total - 4113057 EUR excluding VAT.
Date | Status | Late | Assignment date |
---|---|---|---|
16.08.2021 | Paid | No | 15 August 2021, 10:07 |
16.09.2021 | Paid | No | 14 September 2021, 19:04 |
16.10.2021 | Paid | No | 12 October 2021, 21:15 |
16.11.2021 | Paid | No | 23 November 2021, 12:51 |
16.12.2021 | Paid | No | 15 December 2021, 16:42 |
16.01.2022 | Paid | No | 12 January 2022, 21:14 |
16.02.2022 | Paid | No | 15 February 2022, 19:40 |
16.03.2022 | Paid | No | 17 March 2022, 19:08 |
16.04.2022 | Paid | No | 14 April 2022, 12:45 |
16.05.2022 | Paid | No | 13 May 2022, 12:51 |
16.06.2022 | Paid | No | 14 June 2022, 19:46 |
02.07.2022 | Paid | No | 07 September 2022, 12:52 |
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Amount €