#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
- 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 Contract Number|
Collateral value €1,451,000
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