#4824 Development loan - 10.stage (Estonia) Opened: 07.02.2022

  • #4824 Development loan - 10.stage (Estonia)
  • #4824 Development loan - 10.stage (Estonia)
  • #4824 Development loan - 10.stage (Estonia)
  • #4824 Development loan - 10.stage (Estonia)
  • #4824 Development loan - 10.stage (Estonia)
  • #4824 Development loan - 10.stage (Estonia)
  • #4824 Development loan - 10.stage (Estonia)
  • #4824 Development loan - 10.stage (Estonia)
  • #4824 Development loan - 10.stage (Estonia)
  • #4824 Development loan - 10.stage (Estonia)
  • #4824 Development loan - 10.stage (Estonia)
  • #4824 Development loan - 10.stage (Estonia)
  • #4824 Development loan - 10.stage (Estonia)
  • #4824 Development loan - 10.stage (Estonia)
  • #4824 Development loan - 10.stage (Estonia)
  • #4824 Development loan - 10.stage (Estonia)
  • #4824 Development loan - 10.stage (Estonia)
  • #4824 Development loan - 10.stage (Estonia)
  • #4824 Development loan - 10.stage (Estonia)
  • #4824 Development loan - 10.stage (Estonia)
  • #4824 Development loan - 10.stage (Estonia)
  • #4824 Development loan - 10.stage (Estonia)
  • #4824 Development loan - 10.stage (Estonia)
  • #4824 Development loan - 10.stage (Estonia)
  • #4824 Development loan - 10.stage (Estonia)
  • #4824 Development loan - 10.stage (Estonia)

Executive Summary

    • The loan is used to continue construction works.
    • The loan will be repaid from sales revenue of a completed development project.
    • The loan is secured with a first rank mortgage.
    • Member of the management board of the borrower will provide a personal surety in the full mortgage amount.
    • The borrower retains the opportunity to raise additional capital, if necessary, as the collateral value increases.
    • The mortgage was established during a prior financing process and will also cover additional stages of financing.
    • Prior to the next stage of financing, construction supervision must confirm the completed works (if construction has commenced and works have been performed in a considerable amount) and a third party must assess the market value of the collateral.
    • The LTV in 10 stage is 67.7% and can increase to 70.0% in further stages.
    • The development project is financed based on the value of construction invoices, which arise from construction supervision acts prepared on the basis of the work performed. Consequently, we consider the cost of construction work actually performed, in addition to the primary market value, to be the value of the collateral.

Loan Terms

Loan Contract Number

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Quick Overview
58.1% filled, 292 investors €25,464 left
  • Expires 4 days
  • Target €60,710
  • Collateral value €1,162,386
  • LTV 67.8%
  • Projected LTV 70.0%
  • Loan Period 18 months
  • Schedule Type Bullet
  • Mortgage Rank First rank
  • Collateral Type Apartment (Residential)
  • Loan Type Development loan
  • Loan Type Sub-Category Renovation
  • Location Estonia

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