Projects list

Jūrkalnes st. 62 and 62A, Riga, Latvia (11 stage)

Waiting for investments

Amount of funding 135 830 €

LTV 60%

Annual interest rate 12.00% - 13.50%

Total expected project return 9.00% - 10.12%

Loan period

9 mo.

Risk

B (medium)

Purpose of the loan

Development loan

Collateral Real estate pledge

Country

Latvia

Investors 143

Raised:
101 817 € Goal:
135 830 €

74.96%

How much will I earn if I invest:

Investment size

100.00 €

34 013.00 €

12% 12.5% 13% 13.5%

With this project in one month I will earn

€

After 12 months I will earn

€

* This calculator is exemplary and provides approximate results. Please note that the actual earnings may differ from the results provided by the calculator

Business loan terms

About the loan

Purpose of the loan Real estate development

Amount of funding 135 830 €

LTV 60 %

Risk B (medium)

Payment of interest Every month

Loan repayment At the end of the loan period

Loan period 9 mo.

Minimum loan period 4 mo.

Collateral

Real estate pledge

Guarantees / surety

Mortgage rank First order mortgage

Amount allocated by project owner 320 000.00 €

Purpose of the loan

A loan of EUR 2,348,400 is needed to finance the entire project, which is divided into phases. The loan funds are/will be used for the purchase of land plots and for the construction and installation of immovable objects, i.e. two, 2,122 sq. m. of total area of service-purpose commercial buildings, Jūrkalnes st. 62 and 62A, in Riga, Latvia, outdoor engineering networks and facilities and other structures (parking lots, driveways, passages, fences).

The first 5 stages (480,000 EUR) have already been financed. Additional funding rounds (totaling €1,868,400) are now being announced. The borrower, after receiving the document authorizing construction and starting work, revalued the object (property valuation report dated 03/21/2024) and determined the current market value of the land plot - EUR 800,000 and the future market value of the property - EUR 4,830,000. In view of this, the Borrower applied for full project financing, which will amount to EUR 2,348,400, while maintaining the same ratio of asset value to loan (60%), which will be calculated based on the future asset value in accordance with clauses 44-45 of the Rules for Assessing the Reliability of Project Owners, i.e. in accordance with the established ratio, financing the completed works, which are/will be formalized in the prescribed manner by signed acts of completed works and invoices.

The loan funds of the first 5 stages were used for real estate, land plots in Jūrkalnes st. 62 and 62A, in Riga, Latvia, for the acquisition, consolidation, design and obtaining a document allowing construction, demolition of old structures and site preparation for construction, the funds of the 6th and subsequent stages will be used in stages for the full development of the project. The borrower plans to build 2,122 sq.m. m total area of two commercial buildings and rent them. The loan will be repaid by refinancing it in another financial institution, when the borrower, after completing all the construction and contracting works, will receive the final deed of the construction works and, based on it, will register the 100% completion of the building in the real estate register.

About the project

The project - two service buildings intended for automated goods reception/issuance activities. The buildings are one-story with a mezzanine (~6m high). The buildings consist of rooms of different sizes, each of which has a separate entrance from the outside. The area is accessed by one 5.5 m wide entrance from Jūrkalnes street. A roundabout is planned around both buildings. 36 parking spaces are installed along the long facades of the buildings. One place - for one goods reception - issue point. Main driveways, parking lots and sidewalks will be constructed of concrete pavers.

Two service buildings are designed, which are built perpendicular to each other. In the middle of the buildings, common building administration rooms are installed. The premises of the buildings are intended for small companies and individuals engaged in electronic commerce, for whom it is relevant to have small automated points of receipt/issuance of goods.

Both buildings will consist of main rooms (receiving/issuing goods) with entrances from the outside and auxiliary rooms with separate entrances for servicing the building complex. Parking spaces are installed along all premises, at the entrances to them. All goods receiving/dispensing facilities will be managed through a mobile application. Each room is accessed directly from the outside through a door in the gate or a door next to the gate. The gate, with dimensions of 250cmx285cm, is designed to comfortably bring in larger items. Both buildings are one-story with tech. sites where a technological site is installed. In all rooms, it is possible to install WC facilities according to the needs of the users of the rooms. The buildings have technical premises for engineering inputs, administration of the complex, as well as a shared WC room adapted for people with disabilities.

The exterior walls of the buildings are multi-layer panels of two colors. Gates and doors are equipped with translucent materials through which light enters the premises. The roofs of the buildings are gabled. Water runs off the roof through downpipes installed on the facade. At the edges of the facades, openwork, decorative elements made of metal tubular profiles are installed.

Interior decoration of the walls - multi-layer panels (facade walls) and plasterboard partitions filled with cotton wool. The floor is concrete. Toilet facilities are provided as needed. Technological sites are equipped according to the needs of the tenants. The installation of a ladder or lift (up to 3t) is specified according to the need and technology.

More about the project (see Documents).

We inform you that the employees of UAB Nordstreet (company code 304565690) are investing in this project.

Investment from 50.00 €.

Interest

Annual interest rate

Investing from 50.00 € - fixed interest 12 %
Investing from 5 000.00 € - fixed interest 12.5 %
Investing from 10 000.00 € - fixed interest 13 %
Investing from 15 000.00 € - fixed interest 13.5 %

The Interest on the Loan Amount shall be calculated from and including the date of disbursement of the Loan Amount to the Debtor's Account or to such other account (or accounts) as notified by the Debtor to the Operator in writing prior to the disbursement of the Loan Amount.

Loan term and repayment

Loan period 9 mo.

Minimum loan period 4 mo.

Loan repayment At the end of the loan period

Estimated start date of the loan:* 2024-09-26

Estimated loan repayment date:* 2025-06-04

If the Debtor repays the Loan earlier than after the specified minimum loan period, it undertakes to pay interest to the Lender for the entire specified minimum period.

* The loan is planned to be repaid by the end of the project term from the expected growing income of the company, increasing profits, sale of assets or refinancing of the loan.

Procedure for disputes between parties to a financing transaction

The investor has the right to withdraw their investment within 96 hours from the submission of the money lending proposal on the platform

Debtor

Company title SIA Hiltus

Company code 40203520487

Company registration address

Malduguņu iela 4 Riga Latvija LV-2167

Company website https://www.hiltus.lt

SIA Hiltus - the company was established on 11/08/2023. Company activities: a) general construction; (b) design; c) construction management.

Company shareholder - 100% Edvard Sokolovskij.

The companies group has successfully implemented over 30 projects.

More information https://hiltus.lt/komerciniai-projektai/

Loan protection collateral

Loan collateral:

The property is pledged with a first-order mortgage at Jūrkalnes st. 62 ir 62A, Riga, Latvia:

A plot of land, the address of which is Jūrkalnes str. 62A, Riga, Latvia, land plot area - 0,3740 ha, unique No. 01000992131, land register No. 26708;
A plot of land, the address of which is Jūrkalnes str. 62, Riga, Latvia, area - 0,5821 ha, unique No. 01000990317, land register No. 100000516694.

Value of mortgaged property: 800,000 euros.

The future value of the mortgaged property: 3,991,735 euros (without VAT).

Additional means of security: company guarantee (promissory note).

Plots description

Two adjoining plots of land located on Jūrkalnes st. 62 and 62A, Riga, Latvia. For these plots, a project of service buildings and engineering structures of other purpose has been prepared and a construction permit document has been obtained. The total area of both plots is 0,9561 ha.

According to the established requirements of the territory zoning and construction regulation, this territory is suitable for the construction of new industrial-commercial objects and corresponds to the valid territorial planning of the city of Riga. Located in the mixed center development zone (JC1), which allows the construction of both types of buildings (industrial and commercial).

Depending on the location near a high traffic street, the land plots can be developed for industrial buildings with office/administrative facilities.

The mortgaged real estate is located in the Zolitūdes district of the city of Riga. It is a block consisting of Jūrkalnes, Valtaiķu, Zebrenes and Zolitūdės streets. Adjacencies: commercial buildings, public institutions, individual houses.

Good connections by public and private transport. The nearest public transport stop ~ 200 m from the object. City engineering networks are nearby.

Land plots are regular polygonal shapes. The relief is flat. The plots are completely fenced, their territory is not freely accessible. The territory is not planted. According to the valid (2018-2030) territorial planning of the city of Riga, the plot of land belongs to the mixed center construction area (JC1).

For more details (see Documentation).

Strengths and risks

Strengths:

The first order of real estate pledge - mortgage.
Company guarantee (bill of exchange).

Weaknesses:

The borrower has been operating for less than a year.
Borrower 's activities are in a competitive sector.
The company is operating at a loss.

Possibilities:

The annual interest rate payable by the borrower is 12.00-13.50%.

Threats:

A young company.
Property is in development stage.
Rising cost of building materials.

Documents

#	File name	File type	Actions
1	Vertinimo atskaita Jūrkalnes iela 62, Rīga 447 000 EUR.pdf
2	Vertinimo atskaita Jūrkalnes iela 62A, Rīga 184 000 EUR.pdf
3	28_07_2023_10_09_Statybos_leidimas.pdf
4	ŽSP Jūrkalnes iela 62, Rīga.pdf
5	ŽSP Jūrkalnes iela 62A, Rīga.pdf
6	Nordspace_Jurkalnes_Construction_Project.pdf
7	Riga_Jurkalnes_62_NTV_Final.pdf
8	Articles of association.pdf
9	PIID (11 etapas).pdf

Important

Nordstreet takes the following measures to ensure a safer investment:

The loan to value ratio of the project will not exceed the LTV ratio provided in the project description, including in cases when the project will be financed in stages.
If the required amount of funding is not collected before the start of the project, all investments will be returned to the investors. Upon application by the Debtor, the financing may be considered to have been successfully completed with a smaller amount collected, the financing of the project may be divided into several stages and / or the financing period of the project may be extended. In these cases, Nordstreet informs the funders and publishes the information on the completion of the project with a smaller amount, the division of the project funding into several stages or the extension of the project funding period on its website together with other information about the project.
By investing in a project, financiers acquire rights of recourse (claim rights). Nordstreet may provide the financiers with the possibility to transfer these claim rights to other users of the platform on the Secondary Market in accordance with the User Terms.
The activities of UAB Nordstreet are supervised by the Bank of Lithuania and UAB Nordstreet is included on the Public List of Operators of Crowdfunding Financing Platforms administered by the Bank of Lithuania.

About the loan

Purpose of the loan Real estate development

Amount of funding 135 830 €

LTV 60 %

Risk B (medium)

Payment of interest Every month

Loan repayment At the end of the loan period

Loan period 9 mo.

Minimum loan period 4 mo.

Collateral

Real estate pledge

Guarantees / surety

Mortgage rank First order mortgage

Amount allocated by project owner 320 000.00 €

Purpose of the loan

About the project

More about the project (see Documents).

We inform you that the employees of UAB Nordstreet (company code 304565690) are investing in this project.

Investment from 50.00 €.

Interest

Annual interest rate

Investing from 50.00 € - fixed interest 12 %
Investing from 5 000.00 € - fixed interest 12.5 %
Investing from 10 000.00 € - fixed interest 13 %
Investing from 15 000.00 € - fixed interest 13.5 %

Loan term and repayment

Loan period 9 mo.

Minimum loan period 4 mo.

Loan repayment At the end of the loan period

Estimated start date of the loan:* 2024-09-26

Estimated loan repayment date:* 2025-06-04

If the Debtor repays the Loan earlier than after the specified minimum loan period, it undertakes to pay interest to the Lender for the entire specified minimum period.

* The loan is planned to be repaid by the end of the project term from the expected growing income of the company, increasing profits, sale of assets or refinancing of the loan.

Procedure for disputes between parties to a financing transaction

The investor has the right to withdraw their investment within 96 hours from the submission of the money lending proposal on the platform

Loan protection collateral

Collateral

Real estate pledge

Guarantees / surety

Property type

Commercial

Mortgage rank

First order mortgage

LTV

60%

Documentation

Asset Valuation Report

Report preparation date

2024-03-21

Assessor

SIA 1Partner Latvia

Loan collateral:

The property is pledged with a first-order mortgage at Jūrkalnes st. 62 ir 62A, Riga, Latvia:

A plot of land, the address of which is Jūrkalnes str. 62A, Riga, Latvia, land plot area - 0,3740 ha, unique No. 01000992131, land register No. 26708;
A plot of land, the address of which is Jūrkalnes str. 62, Riga, Latvia, area - 0,5821 ha, unique No. 01000990317, land register No. 100000516694.

Value of mortgaged property: 800,000 euros.

The future value of the mortgaged property: 3,991,735 euros (without VAT).

Additional means of security: company guarantee (promissory note).

Plots description

Depending on the location near a high traffic street, the land plots can be developed for industrial buildings with office/administrative facilities.

Good connections by public and private transport. The nearest public transport stop ~ 200 m from the object. City engineering networks are nearby.

For more details (see Documentation).

Documents

#	File name	File type	Actions
1	Vertinimo atskaita Jūrkalnes iela 62, Rīga 447 000 EUR.pdf
2	Vertinimo atskaita Jūrkalnes iela 62A, Rīga 184 000 EUR.pdf
3	28_07_2023_10_09_Statybos_leidimas.pdf
4	ŽSP Jūrkalnes iela 62, Rīga.pdf
5	ŽSP Jūrkalnes iela 62A, Rīga.pdf
6	Nordspace_Jurkalnes_Construction_Project.pdf
7	Riga_Jurkalnes_62_NTV_Final.pdf
8	Articles of association.pdf
9	PIID (11 etapas).pdf

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