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Bratoniškių st. 2, Bratoniškių village, Bezdonių eldership, Vilnius district., Lithuania 2 stage (2 nd rate mortgage)
Amount of funding
260 000 €
LTV
68%
Annual interest rate
15.00% - 17.00%
Total expected project return
7.50% - 8.50%
Loan period
6 mo.
Risk
C (higher)
Purpose of the loan
Development loan
Collateral
Real estate pledge
Country
Lithuania
Lithuania
Investors
291
Raised:
260 000 € Goal:
260 000 €
260 000 € Goal:
260 000 €
100.00%
| # | File name | File type | Actions |
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| 1 | Vertinimas |
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| 2 | Nordstreet |
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| 3 | 5. Turto realizavimo tvarkos projektas |
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| 4 | Protokolas Nr. 2 |
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| 5 | Bankroto adm. atsakymas į Nordstreet pretenziją |
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| 6 | Birželio 22 d. susirinkimo protokolas VIP Crayfish KS4 |
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About the loan
Purpose of the loan
Real estate development
Amount of funding
260 000 €
LTV
68 %
Risk
C (higher)
Payment of interest
Every month
Loan repayment
At the end of the loan period
Loan period
6 mo.
Minimum loan period
1 mo.
Collateral
Real estate pledge
Guarantees / surety
Mortgage rank
Second order mortgage
The financing need on the Nordstreet platform is an amount of EUR 320,000, that could be financed in stages and will be allocated to the real estate at Bratoniškių st. 2, 2A, 2B, 2C, 2D, 2E, Bratoniškių village, Bezdoniai sen., Vilnius district. sav., project.
The total value of the project is EUR 820,000. The Nordstreet platform aims to raise an amount of EUR 320,000 for the borrower, which will be used for the final settlement of the acquired property at Bratoniškių st. 2, Bratoniškių village, Bezdoniai sen., Vilnius district. sav., Lithuania (hereinafter - the Property). The financing is provided together with the Credit Union, which intends to co-finance the project in the amount of at least EUR 500,000 (a letter of guarantee has been issued) for the acquisition and development of the Property. For the credit union, the Property will be pledged with an initial Property Mortgage, and Nordstreet investors will be pledged with a subsequent Property Mortgage. Both financial institutions will sign an agreement on the occurrence of the Assets and the termination and performance of the contract if at least one of the financing institutions fails to meet its obligations, regardless of the order in which the Assets are mortgaged.
The loan will be repaid from sale of the project or refinanced in other financial institution.
A preliminary purchase and sale agreement has been signed for a part of the real estate (land plot No. 4400-5676-6508, land plot No. 4400-5676-6708 and sauna unit No. 4198-3020-9042) for the amount of EUR 370,000.
The company plans to acquire the project after receiving the financing. The company plans to sell the undeveloped plots. 4 plots of 15 ares, sale price of 10,000 Eur / ar, total income 600,000 Eur. Part of the received funds will be directed to the reconstruction of the building and sauna, changing the purpose to a two-apartment residential house. The area of each apartment is planned to be about 250 m2. Sales revenue of 1,700 Eur / m2, total revenue of 850,000 Euros. After the sale of the property, the proceeds will be used for the reconstruction / renovation of the remaining 45 acres of 3 buildings. After selling all 3 buildings with a total area of about 440m2, at 1,700 Euros / m2, the company plans to earn a net pre-tax profit of 748,000 Euros.
Investment from 100.00 €.
Interest
Annual interest rate
- Investing from 100.00 € - fixed interest 15 %
- Investing from 1 000.00 € - fixed interest 15.25 %
- Investing from 3 000.00 € - fixed interest 15.5 %
- Investing from 5 000.00 € - fixed interest 15.75 %
- Investing from 10 000.00 € - fixed interest 16 %
- Investing from 15 000.00 € - fixed interest 16.25 %
- Investing from 20 000.00 € - fixed interest 16.5 %
- Investing from 25 000.00 € - fixed interest 16.75 %
- Investing from 40 000.00 € - fixed interest 17 %
The Interest on the Loan Amount shall be calculated from and including the date of disbursement of the Loan Amount to the Debtor's Account or to such other account (or accounts) as notified by the Debtor to the Operator in writing prior to the disbursement of the Loan Amount.
Loan term and repayment
Loan period
6 mo.
Minimum loan period
1 mo.
Loan repayment
At the end of the loan period
Estimated start date of the loan:*
2022-02-01
Estimated loan repayment date:*
2022-08-01
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.
Procedure for disputes between parties to a financing transaction
The investor has the right to withdraw their investment within 96 hours from the submission of the money lending proposal on the platform
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