#3772 Development loan - 16.stage (Estonia) Funded: 30.11.2022

This loan is operated by Estateguru OÜ and is subject to General Loan Terms. View loan terms

Executive Summary

    • The loan is used to continue construction works.
    • The loan will be repaid by refinancing with a long-term bank loan.
    • The loan is secured with a first rank mortgage.
    • The state is subsidizing the construction of this project with 1,000,000 euros.
    • The municipality holds a 51% share of the company.
    • 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 16 stage is 48.95% and can increase to 65.0% 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

Please register or log in to see full details.

Log in / Register
Quick Overview
192 investors, €71,066 raised
  • Status Funded
  • Target €71,066
  • Collateral value €2,614,900
  • LTV 48.95%
  • Projected LTV 65.0%
  • Loan Period 12 months
  • Schedule Type Bullet
  • Mortgage Rank First rank
  • Collateral Type Apartment building (Residential)
  • Loan Type Development loan
  • Loan Type Sub-Category New construction
  • Location Estonia

Please register or log in to see full details.

Log in / Register