|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
Acquisition of a building (former Zarasai city hospital) with a land plot and other registered objects on the land plot, address Vytauto st. 18A, Zarasai, Lithuania. The loan will be returned from company income, can be refinanced or from the sale of an investment project.
Annual interest rate 10.75 %
Loan period 9 mo.
Minimum loan period 2 mo.
Loan repayment At the end of the loan period
Estimated start date of the loan:*2021-08-05
Estimated loan repayment date:*2022-05-05
*If the Debtor 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 title UAB Agroorganika
Company code 304693124
Company website https://agroorganic.eu/
LTD Agroorganika was registered in 2017. The main activity is sales of organic fertilizers and other products. The company wants to add to its business additional line and to acquire historical building (former hospital of Zarasai town), which is situated in the center of Zarasai town, at Vytautas st. 18A, Zarasai. The acquisition will be followed by further real estate development/conversion to an elderly house.
According to Y2020 finance statements, sales revenue 2019 - 213 TEUR, 2020 - 454 TEUR, net profit 2019 -57 TEUR, 2020 - 47 TEUR. Shareholders equity - 66 TEUR, 2020 - 113 TEUR.
Collateral Real estate pledge
Guarantees / surety
Property type Other
Mortgage rank First order mortgage
Value of collateral 263 000 €
Asset Valuation Report
Report preparation date 2021-07-08
Assessor UAB Apus turtas
Purchase price of a real estate is 105 TEUR, company's part in acquisition 20 TEUR, financing amount 85 TEUR. The company will develop acquired real estate and willing to invest in reconstruction/building conversion.
1. Land plot, i/d 4400-0380-9398, the main purpose - other (commercial object territory), total area 0,2233 hectares.
2. Building -hospital, i/d 4394-0030-2019, the main purpose - nursery, total space 1209,85 m2, construction date 1940.
3. Other registered object (fence, field b1,b2), i/d 4394-0030-2119, construction date 1940.
4. LTD Agroorganika letter of credit of 127,5 TEUR with additional guarantor Evelina Jegerskiene.
The purchase object is former hopsital building of Zarasai town, which is in a center of Zarasai, with easy access by cars, good condition roads and a parking space near the building . The area and surroundings are well organized.
The main positive aspects of the object:
- The object is situated in the center of Zarasai town, great place to start commercial activities, Zarasai has beautiful lakes and beautiful nature surroundings;
- The engineering and social infrastructure is well developed;
- The premises in the building can be easily converted to other functional commercial real estate. From a commercial point of view, premises can be used as commercial, social, academical, housing or hotel, o nursery.
- Before start of any type of operations, the object should be renovated, currently is not being used.
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