#6687 Bridge loan - 9.stage (Finland) - Fully Invested Fully invested: 28.11.2022

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

Executive Summary

    • The loan is used to release equity capital and increase the operating capital of the company.
    • The loan will be repaid by refinancing, from the sale of the collateral property, or from the incoming business revenues of the company.
    • The loan is secured with a first rank mortgage.
    • Borrower adds a 1% bonus to annual interest for investments of at least €30,000 (combined annual interest 11.5%).
    • The collateral for the loan is a 6-story commercial office building (4.490 m2) located in Pohjois-Haaga, Helsinki. Pohjois-Haaga is a district of Helsinki located 10 km to the North of Helsinki city centre with good public transport connections and easy access by vehicles.
    • The asset is currently valued at 10.100.000 € and after fully leased the value is estimated to increase to 11.400.000 €. Once fully leased, the estimated rental income per year is 1.067.040 €.
    • The borrower plans to fully lease the office building and re-finance the Estateguru loan with long-term bank financing. Alternatively the group also has other streams of revenue from leasing commercial properties and selling completed development projects with which it can repay the Estateguru loan.

     

    • 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 9 stage is 12.41% and can increase to 43.0% in further stages.

Loan Terms

Loan Contract Number

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Quick Overview
  • Investment ≥ €30,000 = 1.0% bonus
140 investors, €22,863 raised
  • Status Fully Invested
  • Target €150,000
  • Collateral value €10,100,000
  • LTV 12.41%
  • Projected LTV 43.0%
  • Loan Period 18 months
  • Schedule Type Bullet
  • Mortgage Rank First rank
  • Collateral Type Office building (Commercial)
  • Loan Type Bridge loan
  • Loan Type Sub-Category Other
  • Location Finland

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