Project | Brickfy

Remīnes Street II

Platform: BULKESTATE
Type: LENDING

Closed for investment

Scheduled

General Information


LENDING

REAL ESTATE

BULKESTATE

B

Annual


Financial Information


€137,500.00

--

€0.00

€5.00

14.00 %

--

65.00 %

property_second


Important Dates

365

2021-05-20

2022-05-20


Description

Object

The property consists of a land plot with a total area of 911 sq.m and a two-story-high residential building with a total area of 216 sq.m. The private house is located in Teika, Riga, a popular residential area close to the city centre.

This quiet neighbourhood is one of the greenest areas near the city centre, which mainly consists of private homes with quiet streets. The convenient location allows reaching city centre only in a few minutes. Nearby, are also shopping centres, schools, children day-care centre, a 24-hour pharmacy, as well as places for entertainment, doing sports and other recreation.

Loan target

The loan is intended to increase the operating capital of the borrower’s company. This loan will refinance the previous loan of the borrower.

Amount of the loan

137 500 EUR

As the borrower has financial commitments with a credit institution, the combined LTV of 65% consists of the sum of the Bulkestate loan and the bank's financing against the value of the property. This is a mezzanine loan, that is subordinated to the claims from the bank which holds the mortgage on this property. 

Independent valuation of the property

290 000 EUR

Borrower

SIA 'RI estate', Reg No.40103873870

Security

Mezzanine

Repayment term

12 months

Repayment of the loan

The principal amount of the investment and the accrued interest will be paid out in a single payment at the end of the repayment term.