#6925 Bridge loan - 10.stage (Estonia) Funded: 31.05.2023

This loan is intermediated by Estateguru OÜ. For the general loan terms applicable to this loan, please see the Estateguru General Loan Terms.

Executive Summary

    • The loan is used for other purposes.
    • The loan will be repaid from the company’s business revenues or by refinancing.
    • 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.
    • A 2-storey building, with office spaces located on the side facing the road, storage units in the middle  (10 units with separate entrances and 6 metre high ceilings) and accommodation in the back (84 beds in 26 rooms, with a total area of 750 m2).
    • The accommodation will be used by wartime refugees and field workers. Local government will fill and pay for the majority of the accommodation.
    • The plan is to refinance this loan during the 1st half of the year 2023. The loan period is 18 months to account for the possibility that refinancing will take longer than anticipated.
    • 2885,8 m2 out of 3759,3 m2 are rented out with a temporary contract (until 31.03.2027).
    • The potential rental income, without any vacancies, is about €35 000/month.
    • The readiness of the building is around 90% at the moment.
    • 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 55.26% and can increase to 60.0% in further stages.

Loan Terms

Loan Contract Number

Please register or log in to see full details.

Log in / Register
Quick Overview
493 investors, €77,871 raised
  • Status Funded
  • Target €100,000
  • Collateral value €3,760,000
  • LTV 55.26%
  • Projected LTV 60.0%
  • Loan Period 12 months
  • Schedule Type Bullet
  • Mortgage Rank First rank
  • Collateral Type Industrial/Warehouse building (Commercial)
  • Loan Type Bridge loan
  • Loan Type Sub-Category Other
  • Location Estonia

Please register or log in to see full details.

Log in / Register