Detail Descripton

Funding requires an amount of € 60,000 to accelerate the installation and sale of re-mortgaged premises.

Project developer - UAB ESSCALA (304424145) real estate, which specializes in object 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.

Loan protection collateral

Collateral Real estate pledge

Guarantees / surety

Property type Residential

Mortgage rank Second order mortgage

Value of collateral 478 000 €

LTV 74%

Documentation Asset Valuation Report

Report preparation date 2021-03-26

Assessor UAB Nill Nill

Pledged property:

Land plot (low-rise residential buildings, 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. (according to the newly prepared cadastral file, the total area of the building is 445.52 sq.m)

The total amount of financing per m2 is pledged 794.57 EUR.

Value of mortgaged property: 478,000 EUR

Strengths and risks

Strengths:

• The project is near the end.
• The second real estate mortgage

Weaknesses:

• The borrower and the guarantor were late in paying small amounts.
• The LTV rate of the project is high.

Possibilities:

• The annual interest rate payable by the borrower is 12%.

Threats:

• Property is in development stage.
• Rising cost of building materials.

NORDSTREET takes the following measures to ensure a safer 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 investors. Upon application by the Debtor, the financing may be considered to have been successfully completed with a smaller amount collected, the financing of the project may be divided into several stages and / or the financing period of the project 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 rights of recourse (claim rights). NORDSTREET may provide the financiers with the possibility to transfer these claim rights to other users of the platform on the Secondary Market in accordance with the User Terms.
• The activities of UAB Nordstreet are supervised by the Bank of Lithuania and UAB Nordstreet is included on the Public List of Operators of Crowdfunding Financing Platforms administered by the Bank of Lithuania.