EvoEstate Risk rating is of an informative nature only & can not be considered investment advice.
Loan To value
We present a new staged financing project - "Nauji namai Baltuose". The funds raised will be used for the development of a real estate project. The amount raised at this stage is EUR 250 000.
The aim of the project:
The project owner will arrange environment on 5 plots of a land with a total land area of 46.1 ares and complete the construction and finishing works. Currently, 6 houses (consisting of 15 economic segments) have been built on the land plot, the purpose of which will be changed to residential within 6 months. Two houses already have windows and doors. Also, all buildings have internal communications, walls and ceilings covered with plasterboard. This loan will be covered by sales proceeds.
To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors 5 plots of land with 15 farm buildings (actually individual residential houses) are pledged in Vilnius, Zubiskiu st. 101, 103, 105, 111 and 113.According to an independent real estate appraiser, the value of real estate pledged to investors is EUR 475 200.
Maximum planned amount of funding for the project: EUR 332 000. The project is funded based on the current mortgage valuation until it reaches the maximum LTV set. When maximum LTV is reached, a new valuation of the property will be required and further project funding stages will be announced and collected only if the maximum LTV set is not exceeded.
Interest by investment amount:
- From 100 EUR to 999 EUR – 9%
- From 1 000 EUR to 9 999 EUR – 10%
- From 10 000 EUR to 29 999 EUR – 11%
- From 30 000 EUR – 12%
Important: investments made separately are not aggregated.
We plan to raise the amount within 7 days, with the option of extending it to 21 days if we do not raise funds.
To secure the interests of investors, 5 plots of land with 6 houses (consisting of 15 economic segments), the purpose of which will be changed to residential within 6 months (actually an individual residential house) are pledged in Vilnius, Zubiskiu st. 101, 103, 105, 111 and 113.
Assets pledged to investors during this funding stage will also be used to secure the obligations of the project owner in the next (additional) stages of financing, provided that the project owner raises the value of the pledged property to a maximum LTV of 70%. Investors of all stages will be pledged with a primary mortgage.
When investing into this project, during the subsequent funding stages, the invested funds will be repaid to investors only after settlement with the investors who have invested in the previous funding stages. This condition does not affect the seniority of the investor’s right to the collateral, the overall ratio of the collateral to the amount of the investment. This provision will also not apply in the event of termination of the loan agreement.
For investors at all stages, the property is pledged as a primary mortgage.
Ask a question
Login or register for post question
Ask a question
Allowed characters: a-z, 0. Min 3 characters
Invest in Nauji namai Baltuose,Vilnius, Lithuania