#7857 Bridge loan - 23.stage (Estonia) Funded: 21.09.2023

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 to release equity capital for the sales period.
    • The loan will be repaid from the sale of the collateral property or refinancing by a long-term bank loan.
    • 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 23 stage is 65.0% and can increase to 65.0% in further stages.
    • The loan is being refinanced to give the borrower more time to conclude pre-construction actions (land development).

Loan Terms

Loan Contract Number

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Quick Overview
890 investors, €184,561 raised
  • Status Funded
  • Target €184,561
  • Collateral value €588,707
  • LTV 65.0%
  • Projected LTV 65.0%
  • Risk category N/A
  • Loan Period 12 months
  • Schedule Type Full bullet
  • Mortgage Rank First rank
  • Collateral Type Apartment (Residential)
  • Loan Type Bridge loan
  • Loan Type Sub-Category Sale advance
  • Location Estonia

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