Projects list

Lacplesa st. 24, central district, Riga, Latvia

Processing

Amount of funding 289 000 €

LTV 100%

Expected rental yield Up to 9.47%

Fixed interest rate 3.00%

Loan period

36 mo.

Risk

A (low)

Purpose of the loan

Buy-to-let

Collateral Real estate pledge

Country

Latvia

Investors 265

Raised:
289 000 € Goal:
289 000 €

100.00%

Secondary market

Project title	Interest	Until the expected end of the loan	Investment size	Price	Bonus/ discount	Offer valid until
Lacplesa st. 24, central district, Riga, Latvia	3.00 %	0 d.	49.72 €	49.72 €	0.00 %	2025-01-01	View offer Details

Project updates

Notification of breach of payment obligation

2024-12-20

A reminder of breach of payment was sent to the Debtor

Notification of breach of payment obligation

2024-12-13

A reminder of breach of payment was sent to the Debtor

Information update

2024-11-15

Please be informed that the borrower is actively seeking buyers for the mortgaged property and is currently awaiting responses from several potential buyers. In accordance with Clause 33 of Section VI of the General Conditions of the Loan Agreement, the Operator has decided to grant the Borrower an additional 20 working days to sell and receive payment for the Project Assets. The grace period will expire on 6 December 2024. We will update you on the progress of the sale process and the responses of potential buyers as soon as we have new information. Regards, Nordstreet team

Period paid

2024-11-05

The debtor has paid interest for the period 2024-10-30. Payment delay days: 6.

Period paid

2024-09-30

The debtor has paid interest for the period 2024-09-30.

Period paid

2024-09-16

The debtor has paid interest for the period 2024-08-30. Payment delay days: 17.

Period paid

2024-07-01

The debtor has paid interest for the period 2024-06-30.

Information update

2024-06-07

Please be informed that negotiations with the buyer have broken down because the buyer did not provide the origin of the funds to be used for the purchase, which led the notary to refuse to approve the sale and purchase transaction. A new buyer is being sought. Best regards, Nordstreet team.

Information update

2024-04-11

Please be informed that an offer has been received to buy the last apartment for 87TEur. The offer has been accepted and the formalities of the transaction are being coordinated. Best regards, Nordstreet team.

Period paid

2024-04-03

The debtor has paid interest for the period 2024-03-29.

Period paid

2024-02-07

The debtor has paid interest for the period 2024-02-06.

Period paid

2024-01-16

The debtor has paid interest for the period 2024-01-15.

Information update

2023-12-04

Please be informed that the last remaining unsold apartment of this project did not generate income in October. The reason for this was the closure of the apartment rental advertisement due to the ongoing property inspection and minor repair of the apartment's decoration. The broker informs that there are interested potential buyers with whom negotiations are ongoing. We expect the property to be sold in the near future. Best regards, Nordstreet team.

Period paid

2023-10-26

The debtor has paid interest for the period 2023-10-25.

Period paid

2023-09-20

The debtor has paid interest for the period 2023-09-20.

Period paid

2023-09-05

The debtor has paid interest for the period 2023-09-05.

Period paid

2023-07-25

The debtor has paid interest for the period 2023-07-25.

Period paid

2023-07-05

The debtor has paid interest for the period 2023-07-05.

Period paid

2023-06-08

The debtor has paid interest for the period 2023-06-08.

Information update

2023-06-08

We inform you that two apartments (Lacplesa st. 24-33 and 39) were sold this month, with a total sale price of EUR 163 We remind you that in 2022 in December, the very first sale of the apartment took place, which was sold for EUR 62,850. We emphasize that the difference between the amount of the sale and the amount paid out to investors is due to the expenses incurred in connection with the conclusion of the transactions (Broker's salary, notary expenses, legal representation expenses). Three of the four apartments were sold. Currently, the last, fourth apartment remains for rent. The buyer of the fourth apartment is being intensively searched for, we hope to sell the last apartment this year and make all the final payments. Thank you for being with Nordstreet.

Payment of recovery costs received

2023-06-07

Payment of recovery costs received: 355 €

Payment of recovery costs received

2023-06-07

Payment of recovery costs received: 780 €

Period paid

2023-05-17

The debtor has paid interest for the period 2023-05-17.

Period paid

2023-04-24

The debtor has paid interest for the period 2023-04-21.

Period paid

2023-03-21

The debtor has paid interest for the period 2023-03-20.

Period paid

2023-02-20

The debtor has paid interest for the period 2023-02-17.

Period paid

2023-01-18

The debtor has paid interest for the period 2023-01-18.

Period paid

2022-12-16

The debtor has paid interest for the period 2022-12-15.

Period paid

2022-12-15

The debtor has paid interest for the period 2022-12-15.

Information update

2022-12-09

Please be informed that the operator of the crowdfunding platform Nordstreet UAB ("Nordstreet") is currently seeking a crowdfunding service provider authorization (license) in accordance with Regulation (EU) 2020/1503 of the European Parliament and of the Council of 7 October 2020 on European Business Crowdfunding Service Providers ("the Regulation"). In preparation for obtaining a licence and operating under the Regulation, Nordstreet aims to ensure that it complies with the requirements for avoiding conflicts of interest set out in the Regulation in addition to the requirements of the currently applicable legislation. The Regulation prohibits a crowdfunding service provider from participating in any form in crowdfunding offers published on its crowdfunding platform. As a reminder, Nordstreet's platform finances buy-to-let projects, where the project owners are obliged to dispose of the real estate acquired with the loan amount within the timeframe set out in the loan agreement. The share of the surplus (i.e. the difference between the sale price of the real estate and the loan amount received) from these properties is to be distributed in specific proportions to the investors and Nordstreet. As a prior compliance with the Regulation's requirement not to participate in projects published on its platform, Nordstreet decided to forego the share of the surplus profits from buy-to-let projects that should be allocated to Nordstreet. We assure all investors that this decision by Nordstreet will have absolutely no impact on investors' interests. Investors' receivables in the buy-to-let projects will remain unchanged irrespective of this decision by Nordstreet. Regards Nordstreet team

Period paid

2022-11-20

The debtor has paid interest for the period 2022-11-18.

Period paid

2022-10-18

The debtor has paid interest for the period 2022-10-18.

Period paid

2022-09-14

The debtor has paid interest for the period 2022-09-14.

Period paid

2022-08-17

The debtor has paid interest for the period 2022-08-16.

Period paid

2022-07-15

The debtor has paid interest for the period 2022-07-15.

Period paid

2022-06-15

The debtor has paid interest for the period 2022-06-15.

Period paid

2022-05-18

The debtor has paid interest for the period 2022-05-18.

Period paid

2022-04-19

The debtor has paid interest for the period 2022-04-19.

Period paid

2022-03-15

The debtor has paid interest for the period 2022-03-15.

January rental results breakdown

2022-02-18

Important information about January results: Lacplesa 24-5 apartments were fully occupied (by a single tenant) throughout January. Rental income is calculated from the check-out date. Income from Lacplesa 24-5 apartment will be assigned to February (after the tenant check out)! You can find detailed breakdown of rental returns in the “2022-01 results LT-EN.pdf” file uploaded in the documents section.

Period paid

2022-02-15

The debtor has paid interest for the period 2022-02-15.

Period paid

2022-01-17

The debtor has paid interest for the period 2022-01-15. The report is available in the "Documents" section.

Business loan terms

About the loan

Purpose of the loan Buy to let

Amount of funding 289 000 €

LTV 100 %

Risk A (low)

Payment of interest Every month

Loan repayment At the end of the loan period

Loan period 36 mo.

Collateral

Real estate pledge

Mortgage rank First order mortgage

Payment schedule is not applicable for this project. The interest generated by the project depends on the accommodation of the properties. The apartment lease was started on November 30, 2021. The first interest payment (after deducting administrative costs) will be paid to project investors on 2022-01-15. Payments are made for the results generated during the previous month. Subsequent interest payments will be made on the 15th of each month. The return of the project (based on historical data) can be found in the project description in the section “Business loan terms”.

Detailed breakdown of project returns:

The average annual interest rate of the project is 9.47%. This figure is based on accommodation and rental price data provided by Houseys. If the apartments are not occupied at all, investors will receive a fixed annual interest rate of 3%.

IMPORTANT TO NOTE: If rental prices or accommodation statistics exceed historical Houseys data during the lease term, any additional income (after deducting administrative costs) will go to Nordstreet platform investors!

Real estate capital appreciation and its split:

If at the end of the project term (after 36 months) the value of the apartments (RE) will be higher than the purchase price, the project investors will receive 50% of the real estate appreciation value (price increase) after sales tax. This additional yield is not included in the annual interest rate of 9.47%. The real estate price growth can significantly increase the overall profitability of the project for investors!

Original description:
Leaders of short-term real estate rent administration in Lithuania Houseys present a new investment opportunity on the NORDSTREET platform: Buy to let!

NORDSTREET platform investors have an exclusive opportunity to start a real estate rental business and earn from rising property prices. All these possibilities and more from just 100 euros!

The interest payable consists of a fixed annual interest rate + additional variable interest rate. The variable part depends on the accommodation of the apartments and the rental income.

Share of rental income (100% of rental income is allocated to investors):

Interest will start to accrue from the moment the property is pledged in favor of investors. The first interest payment will be made monthly, on the 20th day of each month. The funding term for this project is 30 days.

Distribution of capital gains:

For investors: 50%
Houseys: 40%
Nordstreet: 10%

If the borrower sells the property at a higher price than it was acquired, the capital gain will be distributed in the above proportion. Amount will be divided after deducting taxes related to the sale of assets.

Investment from 100.00 €.

Interest

Annual interest rate

Investing from 100.00 € - fixed interest 3 %

Expected investment yield to - 9.47%

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 36 mo.

Minimum loan period 0 mo.

Loan repayment At the end of the loan period

Estimated start date of the loan:* 2021-11-12

Estimated loan repayment date:* 2024-11-07

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 Riga Lacplesa 24

Company code 40203349635

Company registration address

Borrower:

SIA Riga Lacplesa 24 is a company established as a special purpose company for this project. Although the company developing the project is new, the team of shareholders have extensive expertise in this field: the company's shareholder Tomas is the founder and CEO of the real estate management company Houseys!

Development Property Administrator Houseys:

Founded in 2017, Houseys is a professional short-term lease management service provider. The company uses a wide range of innovative technologies and has an experienced team to ensure optimal accommodation and attractive returns for property investors.

Currently, the company operates in Lithuania (Vilnius, Kaunas, Palanga) and Latvia (Riga). Houseys offer a wide range of property management services. Houseys property owners can sit back, relax and enjoy the returns without breaking a sweat!

In addition to property management, Houseys also provide Online Onboarding services for owners who want to manage their property on their own but need initial technical and consulting assistance. Furthermore, they advise real estate developers and landlords on all matters related to renting, both short-term and long-term.

Total number of properties for short - term management in Houseys portfolio: 70

Houseys are founded and managed by Tomas Grizas, who is the CEO of the company. Tomas is entrepreneur with his epertise being in real estate property management. Not only he is managing Houseys, Tomas also advises major real estate developers on all matters related to rent, pricing, innovative real estate solutions, and more.

Loan protection collateral

Properties being purchased:

Lacplesa st. 24 – 5, Riga, Latvia, property number: 0100 926 6889, property size 18.8m2
Lacplesa st. 24 – 33, Riga, Latvia, property number: 0100 926 6874, property size 19.2m2
Lacplesa st. 24 – 34, Riga, Latvia, property number: 0100 926 6878, property size 31.2m2
Lacplesa st. 24 – 39, Riga, Latvia, property number: 0100 926 6877 , property size 31.6m2

Strengths and risks

Strengths:

The first order of real estate pledge - mortgage.

Weaknesses:

Borrower 's activities are in a competitive sector.
The LTV rate of the project is high.

Possibilities:

The annual interest rate payable by the borrower is 3.00%.

Threats:

A young company.
Property is in development stage.

Documents

#	File name	File type	Actions
1	Lacplesa24_Riga_4dzivokli.pdf
2	Buy to Let Pitch EN.pdf
3	Buy to Let Pitch LT.pdf
4	2021 12 result overview LT-ENG.pdf
5	2022-01 results LT-EN.pdf
6	2022-02 results LT-EN.pdf
7	2022-03 results LT-EN.pdf
8	2022-04 results LT-EN.pdf
9	2022-05 results LT-EN.pdf
10	2022-06 results LT-EN.pdf
11	2022-07 results LT-EN.pdf.pdf
12	2022-08 results LT-EN.pdf
13	2022-09 results LT-EN.pdf
14	2022-10 results LT-EN.pdf
15	2022-12 L24-5 deal LT-EN.pdf
16	2022-11 results LT-EN.pdf
17	2022-12 results LT-EN.pdf
18	2023-01 results LT-EN.pdf
19	2023-02 results LT-EN.pdf
20	2023-03 results LT-EN.pdf
21	2023-04 results LT-EN.pdf
22	2023-05 results LT-EN.pdf
23	2023-06 results LT-EN.pdf
24	2023-07results LT-EN.pdf
25	2023-08results LT-EN.pdf
26	2023-09results LT-EN.pdf
27	2023-11results LT-EN.pdf
28	2023-12 results LT-EN.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 Buy to let

Amount of funding 289 000 €

LTV 100 %

Risk A (low)

Payment of interest Every month

Loan repayment At the end of the loan period

Loan period 36 mo.

Collateral

Real estate pledge

Mortgage rank First order mortgage