#5096 Development loan - 13.stage (Latvia) Funded: 07.10.2022

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 from sales revenue of a completed development project.
    • 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 is a returning client who has already fully repaid 1,128 million Euros worth of loans taken at previous stages of the Palejas project development.

    • 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 13 stage is 66.01% and can increase to 69.0% in further stages.

Loan Terms

Loan Contract Number

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Quick Overview
551 investors, €72,014 raised
  • Status Funded
  • Target €72,014
  • Collateral value €1,451,000
  • LTV 66.01%
  • Projected LTV 69.0%
  • 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 Latvia

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