Remīnes Street II
Finished: fully repaid!
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.