#7259 Development loan - 10.stage (Latvia) Funded: 30.04.2024

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 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.
    • Estateguru adds a 0.5% bonus to annual interest for investments of at least €1,000.
    • Estateguru adds a 1% bonus to annual interest for investments of at least €5,000.
    • Estateguru adds a 2% bonus to annual interest for investments of at least €50,000.
    • 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 60.0% and can increase to 65.0% in further stages.
    • The loan is being refinanced due to the sales period taking longer than expected. The borrower will repay the accrued interest (including indemnity and penalty fees, if any) for the previous loan period.

Loan Terms

Loan Contract Number

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Quick Overview
  • Investment ≥ €1,000 = 0.5% Estateguru Bonus Investment ≥ €5,000 = 1.0% Estateguru Bonus Investment ≥ €50,000 = 2.0% Estateguru Bonus
564 investors, €57,250 raised
  • Status Funded
  • Target €57,250
  • Collateral value €614,000
  • LTV 60.0%
  • Projected LTV 65.0%
  • Risk category Ba1
  • Loan Period 12 months
  • Schedule Type Bullet
  • Mortgage Rank First rank
  • Collateral Type Terraced house (Residential)
  • Loan Type Development loan
  • Loan Type Sub-Category New construction
  • Location Latvia

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