Projects list

Seinų str.13, Panevėžio city municipality, Lithuania (1 stage)

Amount of funding 117 000 €

LTV 60%

Annual interest rate 10.75% - 12.00%

Total expected project return 9.85% - 11.00%

Loan period

11 mo.

Risk

B (medium)

Purpose of the loan

Development loan

Collateral Real estate pledge

Country

Lithuania

Investors 116

Raised:
117 000 € Goal:
117 000 €

100.00%

Project updates

Period paid

2023-06-15

The debtor has paid interest for the period 2023-06-15.

Period paid

2023-06-15

The debtor has paid interest for the period 2023-06-15.

Information update

2023-06-14

We inform you that on 13.06.2023 the mortgaged property was sold for EUR 125,000.00. Funds received from the sale will be settled with the investors in the following order: 1. Unreturned part of the loan 2. Interest 3. Compensatory interest. During the last property evaluation, the value of the mortgaged real estate was determined to be EUR 102,000.00, so the initial price of the bid amount was only EUR 81,600.00. During the recovery through the bailiff, negotiations were conducted with two interested buyers. Finally, it was agreed on the sale amount of EUR 125,000.00. When concluding the purchase and sale agreement of the pledged property with the debtor, it was agreed that if he sells the property at the specified price, a discount will be applied to the remaining debt balance. We want to be happy that, although it took a long time to repay this loan, it ended successfully. Investors received an annual interest return of 6.8% from this project. Nordstreet waives the administration fee payable to the Operator on the basis of the loan agreement from this sold amount, so the entire recovered amount will be paid to the investors of this project. Best regards, The Nordstreet team

Information update

2023-04-11

Negotiations for the sale of the vacant property ended in failure, so the foreclosure was returned to the bailiff's office. A few days ago, the auctions of the mortgaged property were published, we invite you to follow their progress by following the link: https://www.evarzytynes.lt/evs/pages/auction.do?id=271310&number=241794

Information update

2023-03-06

The owner of the property (borrower) no longer agrees to sell the property to the buyer with whom a preliminary purchase and sale agreement was concluded, therefore the collection was returned to the bailiff. The deadline set by the bailiff to fulfill the obligation independently is currently running. The competition should start in mid-April. After the sale of the property, the prospect of filing a lawsuit regarding the personal liability of the borrower's manager for making decisions that are not beneficial to the company and the resulting damage to creditors will be assessed.

Information update

2023-01-27

We are pleased to announce that a buyer has been found for the mortgaged property, with whom a preliminary sale and purchase agreement has been concluded. According to this contract, the buyer has paid an advance of EUR 10 000 to Nordstreet's deposit account, which is considered as a guarantee for the execution of the whole contract. The total sale price is EUR 119 500. The main sales contract and the payment of the full sales price are due by the end of February. Once payment for the mortgaged property has been received, the proceeds will be used to fully reimburse all investors for the outstanding part of the loan and part of the accrued interest. The total annual return on investment for this project is expected to be 6.5%.

Information update

2022-11-18

We received the foreclosure appraisal this week. The property is valued at 102TEur. We are talking to the borrower about covering the difference between the property and the amount owed, while we are considering ordering a new property appraisal.

Period paid

2022-09-22

The debtor has paid interest for the period 2022-09-22.

Information update

2022-09-08

The execution record prepared by the notary has been received according to the mortgage agreement. After it is handed over to the bailiff's office, the auction of the mortgaged property should begin within 1-2 months.

Information update

2022-08-09

A request has been submitted to the Notary regarding the execution of the record under the mortgage agreement.

The loan has been submitted for recovery

2022-08-08

The agreement was terminated. Initiation of forced execution through the bailiff.

Information update

2022-07-21

A notice of termination of the loan agreement was sent to the borrower within 14 days. Together with the borrower, buyers are being sought for the mortgaged property.

Reminder about the upcoming deadline

2022-07-17

Debtor sent a reminder about the upcoming deadline for payment

Update of information on loan delays

2022-07-07

Communication with the debtor is in progress. A solution is sought to pay the overdue amount. We would also like to remind you that late interest is charged for each day of delay.

Notification of breach of payment obligation

2022-07-01

A reminder of breach of payment was sent to the Debtor

Notification of breach of payment obligation

2022-06-24

A reminder of breach of payment was sent to the Debtor

Notification of breach of payment obligation

2022-06-18

A reminder of breach of payment was sent to the Debtor

Reminder about the upcoming deadline

2022-06-17

Debtor sent a reminder about the upcoming deadline for payment

Possible period delay

2022-05-20

The debtor has informed you of the possible delay in interest payment.

Notification of breach of payment obligation

2022-05-18

A reminder of breach of payment was sent to the Debtor

Reminder about the upcoming deadline

2022-05-17

Debtor sent a reminder about the upcoming deadline for payment

Period paid

2022-04-19

The debtor has paid interest for the period 2022-04-17.

Notification of breach of payment obligation

2022-04-18

A reminder of breach of payment was sent to the Debtor

Reminder about the upcoming deadline

2022-04-17

Debtor sent a reminder about the upcoming deadline for payment

Period paid

2022-03-16

The debtor has paid interest for the period 2022-03-17.

Period paid

2022-02-17

The debtor has paid interest for the period 2022-02-17.

Reminder about the upcoming deadline

2022-02-17

Debtor sent a reminder about the upcoming deadline for payment

Period paid

2022-01-14

The debtor has paid interest for the period 2022-01-17.

Period paid

2021-12-17

The debtor has paid interest for the period 2021-12-17.

Period paid

2021-11-15

The debtor has paid interest for the period 2021-11-17.

Period paid

2021-10-11

The debtor has paid interest for the period 2021-10-17.

Period paid

2021-09-15

The debtor has paid interest for the period 2021-09-17.

Business loan terms

About the loan

Purpose of the loan Real estate development

Amount of funding 117 000 €

LTV 60 %

Risk B (medium)

Payment of interest Every month

Loan repayment At the end of the loan period

Loan period 11 mo.

Minimum loan period 6 mo.

Collateral

Real estate pledge

Guarantees / surety

Mortgage rank First order mortgage

Purpose if the loan

Land plot development, address Seinų st. 13, Panevėžys, plot area 0.2139ha, i/d No. 2701-0021-0174, intended use - Territories of multi-apartment residential buildings and dormitories. The loan will be repaid by selling the property under development or refinancing at another financial institution.

The plot is in attractive location and a little further from the main Nemunas street in Panevezis town, Lithuania. Land plot is clean, without already demolished ground structures. Within a short distance from the territory - shops, kindergartens, schools, companies engaged in commercial activities. There are excellent connections to the city center, medical facilities, the A2 and A9 motorways.

Technical parameters of the designed building

• 4-storey residential apartment building with parking spaces (reconstruction)

• Designed 28 apartments, 33 parking spaces

• Plot area - 0.2139ha

• Building density of the plot - 44.29%

• Plot construction intensity - 134.78%. The total area is 2882.90 m2

Estimated project cost

Construction price 869 EUR / sq.m. m. The total area is 2889 sq.m., the area for sale would be 1889.29 sq / m, the administrative area is 186.56 sq / m, the plinth / basement area is 590.16 sq/m.

Useful area vs total: 92.27 percent.

Planned income

The planned sale prices of apartments are 1115 EUR / sq.m. without VAT, with VAT 1350 EUR / sq.m. The total income from the sale of apartments is EUR 2 106 513 excluding VAT, EUR 2 548 881.64 EUR including VAT.

The planned income of administrative premises is 205,216 EUR without VAT, with VAT 248,311 EUR.

The planned income of parking places is 177,422 EUR without VAT, with VAT 214,680 EUR.

Planned basement / plinth income 413 112 EUR without VAT, with VAT 499 865 EUR.

Planned profitability

The planned profit is EUR 424,625

Planned project total profitability 18.36%

Investment from 100.00 €.

Interest

Annual interest rate

Investing from 100.00 € - fixed interest 10.75 %
Investing from 500.00 € - fixed interest 11 %
Investing from 1 500.00 € - fixed interest 11.25 %
Investing from 4 500.00 € - fixed interest 11.5 %
Investing from 9 000.00 € - fixed interest 11.75 %
Investing from 15 000.00 € - fixed interest 12 %

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 11 mo.

Minimum loan period 6 mo.

Loan repayment At the end of the loan period

Estimated start date of the loan:* 2021-08-17

Estimated loan repayment date:* 2022-07-17

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 LTD Kėbulistas

Company code 304055488

Company registration address

Dvaro g. 41 Šiauliai Lietuva 76345

Company website www.seinu13.lt

“Kėbulistas” is a company established 6 years ago, but a real estate project development as a main activity started in 2020, one of which is presented above at Seinų st. 13, Panevėžys for development. Project development is represented by an experienced team engaged in real estate project management in Panevėžys. Currently, the project already has an approved multi-apartment building construction permit and initial site preparation work has begun. As of 2020 finance statements sharehoulders equity was 50 TEUR, sales 57 TEUR, total asset value of a company 66 TEUR.

Loan protection collateral

Land plot, collateral address Seinų st. 13, Panevėžys, plot area 0.2139ha, un. No. 2701-0021-0174, intended use - Territories of multi-apartment residential buildings.

Strengths and risks

Strengths:

The first order of real estate pledge - mortgage.

Weaknesses:

The guarantor was late in paying small amounts.

Possibilities:

The annual interest rate payable by the borrower is 10.75-12.00%.

Threats:

Property is in development stage.
Rising cost of building materials.

Documents

#	File name	File type	Actions
1	PropertyvaluationTVA2107-21.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 117 000 €

LTV 60 %

Risk B (medium)

Payment of interest Every month

Loan repayment At the end of the loan period

Loan period 11 mo.

Minimum loan period 6 mo.

Collateral

Real estate pledge

Guarantees / surety

Mortgage rank First order mortgage

Purpose if the loan

Technical parameters of the designed building

• 4-storey residential apartment building with parking spaces (reconstruction)

• Designed 28 apartments, 33 parking spaces

• Plot area - 0.2139ha

• Building density of the plot - 44.29%

• Plot construction intensity - 134.78%. The total area is 2882.90 m2

Estimated project cost

Construction price 869 EUR / sq.m. m. The total area is 2889 sq.m., the area for sale would be 1889.29 sq / m, the administrative area is 186.56 sq / m, the plinth / basement area is 590.16 sq/m.

Useful area vs total: 92.27 percent.

Planned income

The planned income of administrative premises is 205,216 EUR without VAT, with VAT 248,311 EUR.

The planned income of parking places is 177,422 EUR without VAT, with VAT 214,680 EUR.

Planned basement / plinth income 413 112 EUR without VAT, with VAT 499 865 EUR.

Planned profitability

The planned profit is EUR 424,625

Planned project total profitability 18.36%

Investment from 100.00 €.

Interest

Annual interest rate

Investing from 100.00 € - fixed interest 10.75 %
Investing from 500.00 € - fixed interest 11 %
Investing from 1 500.00 € - fixed interest 11.25 %
Investing from 4 500.00 € - fixed interest 11.5 %
Investing from 9 000.00 € - fixed interest 11.75 %
Investing from 15 000.00 € - fixed interest 12 %

Loan term and repayment

Loan period 11 mo.

Minimum loan period 6 mo.

Loan repayment At the end of the loan period

Estimated start date of the loan:* 2021-08-17

Estimated loan repayment date:* 2022-07-17

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

Project updates

Period paid

2023-06-15

The debtor has paid interest for the period 2023-06-15.

Period paid

2023-06-15

The debtor has paid interest for the period 2023-06-15.

Information update

2023-06-14

Information update

2023-04-11

Information update

2023-03-06

Information update

2023-01-27

Information update

2022-11-18

Period paid

2022-09-22

The debtor has paid interest for the period 2022-09-22.

Information update

2022-09-08

Information update

2022-08-09

A request has been submitted to the Notary regarding the execution of the record under the mortgage agreement.

The loan has been submitted for recovery

2022-08-08

The agreement was terminated. Initiation of forced execution through the bailiff.

Information update

2022-07-21

A notice of termination of the loan agreement was sent to the borrower within 14 days. Together with the borrower, buyers are being sought for the mortgaged property.

Reminder about the upcoming deadline

2022-07-17

Debtor sent a reminder about the upcoming deadline for payment

Update of information on loan delays

2022-07-07

Communication with the debtor is in progress. A solution is sought to pay the overdue amount. We would also like to remind you that late interest is charged for each day of delay.

Notification of breach of payment obligation

2022-07-01

A reminder of breach of payment was sent to the Debtor

Notification of breach of payment obligation

2022-06-24

A reminder of breach of payment was sent to the Debtor

Notification of breach of payment obligation

2022-06-18

A reminder of breach of payment was sent to the Debtor

Reminder about the upcoming deadline

2022-06-17

Debtor sent a reminder about the upcoming deadline for payment

Possible period delay

2022-05-20

The debtor has informed you of the possible delay in interest payment.

Notification of breach of payment obligation

2022-05-18

A reminder of breach of payment was sent to the Debtor

Reminder about the upcoming deadline

2022-05-17

Debtor sent a reminder about the upcoming deadline for payment

Period paid

2022-04-19

The debtor has paid interest for the period 2022-04-17.

Notification of breach of payment obligation

2022-04-18

A reminder of breach of payment was sent to the Debtor

Reminder about the upcoming deadline

2022-04-17

Debtor sent a reminder about the upcoming deadline for payment

Period paid

2022-03-16

The debtor has paid interest for the period 2022-03-17.

Period paid

2022-02-17

The debtor has paid interest for the period 2022-02-17.

Reminder about the upcoming deadline

2022-02-17

Debtor sent a reminder about the upcoming deadline for payment

Period paid

2022-01-14

The debtor has paid interest for the period 2022-01-17.

Period paid

2021-12-17

The debtor has paid interest for the period 2021-12-17.

Period paid

2021-11-15

The debtor has paid interest for the period 2021-11-17.

Period paid

2021-10-11

The debtor has paid interest for the period 2021-10-17.

Period paid

2021-09-15

The debtor has paid interest for the period 2021-09-17.

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Seinų str.13, Panevėžio city municipality, Lithuania (1 stage)

About the loan

Investment from 100.00 €.

Interest

Annual interest rate

Loan term and repayment

Strengths:

Weaknesses:

Possibilities:

Threats:

Nordstreet takes the following measures to ensure a safer investment:

About the loan

Investment from 100.00 €.

Interest

Annual interest rate

Loan term and repayment

Loan protection collateral

Debtor

Strengths and risks

Strengths:

Weaknesses:

Possibilities:

Threats:

Documents

Nordstreet takes the following measures to ensure a safer investment:

Project updates

Secondary market

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Seinų str.13, Panevėžio city municipality, Lithuania (1 stage)

Please register or sign in to access this information.

About the loan

Investment from 100.00 €.

Interest

Annual interest rate

Loan term and repayment

Strengths:

Weaknesses:

Possibilities:

Threats:

Nordstreet takes the following measures to ensure a safer investment:

Please register or sign in to access this information.

About the loan

Investment from 100.00 €.

Interest

Annual interest rate

Loan term and repayment

Loan protection collateral

Debtor

Strengths and risks

Strengths:

Weaknesses:

Possibilities:

Threats:

Documents

Nordstreet takes the following measures to ensure a safer investment:

Project updates

Secondary market

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Bistryčios st. 27, Vilnius, Lithuania (1 stage)

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Teatra str. 9, Jurmala, Latvia

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