#6771 Development loan - 19.stage (Estonia) Opened: 08.02.2022

  • #6771 Development loan - 19.stage (Estonia)
  • #6771 Development loan - 19.stage (Estonia)
  • #6771 Development loan - 19.stage (Estonia)
  • #6771 Development loan - 19.stage (Estonia)
  • #6771 Development loan - 19.stage (Estonia)
  • #6771 Development loan - 19.stage (Estonia)
  • #6771 Development loan - 19.stage (Estonia)
  • #6771 Development loan - 19.stage (Estonia)
  • #6771 Development loan - 19.stage (Estonia)
  • #6771 Development loan - 19.stage (Estonia)
  • #6771 Development loan - 19.stage (Estonia)
  • #6771 Development loan - 19.stage (Estonia)
  • #6771 Development loan - 19.stage (Estonia)
  • #6771 Development loan - 19.stage (Estonia)
  • #6771 Development loan - 19.stage (Estonia)
  • #6771 Development loan - 19.stage (Estonia)
  • #6771 Development loan - 19.stage (Estonia)
  • #6771 Development loan - 19.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.
    • 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 19 stage is 63.0% and can increase to 75.0% in further stages.
    • The loan is being refinanced to provide the borrower with more time to secure financing from a new creditor/investor. The borrower will partially repay the principal amount as well as accrued interest (including indemnity and penalty fees if any) for the previous loan period.
    • 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
20.0% filled, 192 investors €94,912 left
  • Expires 5 days
  • Target €118,656
  • Collateral value €2,804,574
  • LTV 63.0%
  • Projected LTV 75.0%
  • Loan Period 12 months
  • Schedule Type Full bullet
  • Mortgage Rank First rank
  • Collateral Type Apartment building (Residential)
  • Loan Type Development loan
  • Loan Type Sub-Category New construction
  • Location Estonia

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