Projects list

Sergiškių st. 24 and 24A, Palanga, Lithuania (1 stage)

Waiting for investments

Amount of funding 150 000 €

LTV 65%

Annual interest rate 12.00% - 13.50%

Total expected project return 12.00% - 13.50%

Loan period

12 mo.

Risk

B (medium)

Purpose of the loan

Development loan

Collateral Real estate pledge

Country

Lithuania

Investors 98

Raised:
23 650 € Goal:
150 000 €

15.77%

How much will I earn if I invest:

Investment size

100.00 €

126 350.00 €

12% 12.25% 12.5% 12.75% 13% 13.5%

With this project in one month I will earn

€

After 12 months I will earn

€

Business loan terms

About the loan

Purpose of the loan Real estate development

Amount of funding 150 000 €

LTV 65 %

Risk B (medium)

Payment of interest Every month

Loan repayment At the end of the loan period

Loan period 12 mo.

Minimum loan period 4 mo.

Collateral

Real estate pledge

Guarantees / surety

Mortgage rank First order mortgage

Amount allocated by project owner 280 000.00 €

Purpose of the loan

The amount of EUR 624,000 is required for financing, which will be collected in stages. The loan funds will be used for the real estate object, i.e. two-bedroom apartment 170.49 sq. m and 170.23 sq. m of the total area of unfinished residential houses located on Sergiškių st. 24 and 24A, Palanga, Lithuania, for construction and finishing works. The loan will be repaid by refinancing it in another financial institution or from the sale of assets and/or from the company's income. The amount that the project owner allocates to the project himself is EUR 280,000.

About the project

The project consists of a plot of land and two unfinished two-story residential houses with recreation rooms. Construction period 2021 - 2023.

Structural elements of buildings: foundations - reinforced concrete; walls - block masonry, exterior decoration - decorative tiles; overlay - reinforced concrete; roof - pitched, roof covering - metal; windows - plastic frames with glass units; the entrance door is plastic. On 10/31/2023, cadastral measurements of residential houses were carried out and 85% construction completion was registered, which corresponds to the current physical condition. The condition of the interior of the residential house is partially finished. The condition of the facade of the house is good. Partial finish: floor - concrete, plasterboard walls - plastered; ceiling - without decoration. In each building, two apartments are formed, common rooms are installed. Communications and engineering equipment: electricity. Municipal water supply and sewage disposal (inputs and outputs). The underfloor heating system is installed.

Residential houses with rest rooms are planned and built according to the requirements for residential (rest) houses. In the opinion of property appraisers, the use of the property according to its current purpose is the maximum and best use of the property and the alternative use is inappropriate.

The plot of land is 0.1000 ha (10 acres) in area. The purpose of use is different. The land plot was formed by carrying out cadastral measurements. The welfare of the plot is managed. The shape of the plot of land is close to a rectangle. The plot is not fenced, not planted, the yard is paved with concrete blocks. Communications - electricity, municipal water supply and sewage disposal.

More about the project (see Documents).

Investment from 100 €.

Interest

Annual interest rate

Investing from 100.00 € - fixed interest 12 %
Investing from 1 000.00 € - fixed interest 12.25 %
Investing from 3 000.00 € - fixed interest 12.5 %
Investing from 5 000.00 € - fixed interest 12.75 %
Investing from 7 000.00 € - fixed interest 13 %
Investing from 10 000.00 € - 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 12 mo.

Minimum loan period 4 mo.

Loan repayment At the end of the loan period

Estimated start date of the loan:* 2024-05-10

Estimated loan repayment date:* 2025-05-10

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 JSC Vygenta ir partneriai

Company code 135302358

Company registration address

Ašmenos 1-oji g. 14 Kaunas Lietuva Lt-44999

JSC Vygenta ir partneriai - the company was founded on February 19, 1999. The company's main areas of activity are: a) Real estate development; b) Construction and renovation of residential and non-residential buildings; c) Completion and finishing of construction.

The company's shareholders are:

Agnius Matjošaitis 34% of shares;
Aušra Ūksienė 33% of shares;
Jurgita Ramoškienė 33% of shares.

Loan protection collateral

Loan collateral:

The property located at Sergiškių st. 24 and 24A, Palanga, Lithuania is pledged as a first mortgage:

½ part of the land plot, whose address is Sergiškių st. 24, Palanga, Lithuania, area - 0.1000 ha, unique No. 4400-4812-0829, cadastral No. 2501/0016:529 Palanga city c. a., purpose: other (method of use: territories of one- and two-apartment residential buildings) and Building - Residential house with recreation facilities, whose address is Sergiškių st. 24, Palanga, Lithuania, total area - 170.49 sq. m, marked on the plan - 1A2/b, unique No. 4400-5816-7810, purpose: residential (two-apartment buildings);
½ part of the land plot, whose address is Sergiškių st. 24, Palanga, Lithuania, area - 0.1000 ha, unique No. 4400-4812-0829, cadastral No. 2501/0016:529 Palanga city c. a., purpose: other (method of use: territories of one- and two-apartment residential buildings) and Building - Residential house with recreation facilities, whose address is Sergiškių st. 24A, Palanga, Lithuania, total area - 170.23 sq. m, marked on the plan - 2A2/b, unique No. 4400-5816-7865, purpose: residential (two-apartment buildings).

Value of mortgaged property: 960,000 euros.

Additional security measures:

Company guarantee (promissory note);
Guarantee of director and shareholder Agniaus Matjošaitis.

Description of the mortgaged property

The mortgaged property consists of three property objects: (a) A plot of land, the address of which is Sergiškiu st. 24, Palanga, Lithuania, unique No. 4400-4812-0829, cadastral number 2501/0016:529 Palanga city c. a., area - 0.1000 ha, purpose: other, type of use: territories of one- and two-family residential buildings; (b) Building – Residential house with recreation facilities, whose address is Sergiškių st. 24, Palanga, Lithuania, total area - 170.49 sq. m, marked on the plan - 1A2/b, unique No. 4400-5816-7810, purpose: residential (two-apartment buildings), completion - 85%; (c) Building – Residential building with recreation facilities, whose address is Sergiškių st. 24A, Palanga, Lithuania, total area - 170.23 sq. m, marked on the plan - 2A2/b, unique No. 4400-5816-7865, purpose: residential (two-apartment buildings), completion - 85%.

The property to be mortgaged - a plot of land and a residential houses with recreation facilities are located in Palanga, Sergiškių st. 24 and 24A. The mortgaged property is located in the city of Palanga, in the settlement of Monciškių, about 1.2 km west of the Liepaja - Palanga road and about 1 km east of the Baltic Sea. The quarter is bounded in the north by Elija Street, in the west by Ošupis Street, in the south by Mončiškių Street, and in the east by Miško Street. In the Monciškių settlement, single-family houses, two-family houses and individual residential houses, recreational buildings, and other land plots without buildings prevail. The settlement is further away from residents' service companies, schools, kindergartens, public facilities (the nearest ones are in Šventoji settlement, 3 km away). The access street is unpaved.

Factors affecting asset value and liquidity:

Quiet residential/recreational location, near the beach of the Baltic Sea;
Good and convenient access;
Residential houses of new construction;
Residential houses with partial decoration.

For more details (see About the Project) (see Documentation).

Strengths and risks

Strengths:

Company guarantee (bill of exchange) and guarantee of its director and shareholder.
The first order of real estate pledge - mortgage.
The project is near the end.

Weaknesses:

The borrower was late in paying small amounts.
Borrower 's activities are in a competitive sector.

Possibilities:

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

Threats:

Uncertain economic situation.
Rising cost of building materials.
The property is under construction.

Documents

#	File name	File type	Actions
1	Istatai.pdf
2	Turto vertinimas Sregiškių g 24 1 dalis InReal.pdf
3	Turto vertinimas Sregiškių g 24 2 dalis InReal.pdf
4	NT Registras 44_2190820.pdf
5	PIID.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 150 000 €

LTV 65 %

Risk B (medium)

Payment of interest Every month

Loan repayment At the end of the loan period

Loan period 12 mo.

Minimum loan period 4 mo.

Collateral

Real estate pledge

Guarantees / surety

Mortgage rank First order mortgage

Amount allocated by project owner 280 000.00 €

Purpose of the loan

About the project

The project consists of a plot of land and two unfinished two-story residential houses with recreation rooms. Construction period 2021 - 2023.

More about the project (see Documents).

Investment from 100 €.

Interest

Annual interest rate

Investing from 100.00 € - fixed interest 12 %
Investing from 1 000.00 € - fixed interest 12.25 %
Investing from 3 000.00 € - fixed interest 12.5 %
Investing from 5 000.00 € - fixed interest 12.75 %
Investing from 7 000.00 € - fixed interest 13 %
Investing from 10 000.00 € - fixed interest 13.5 %

Loan term and repayment

Loan period 12 mo.

Minimum loan period 4 mo.

Loan repayment At the end of the loan period

Estimated start date of the loan:* 2024-05-10

Estimated loan repayment date:* 2025-05-10

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

Residential

Mortgage rank

First order mortgage

LTV

65%

Documentation

Asset Valuation Report

Report preparation date

2024-03-27

Assessor

UAB „Inreal“

Loan collateral:

The property located at Sergiškių st. 24 and 24A, Palanga, Lithuania is pledged as a first mortgage:

½ part of the land plot, whose address is Sergiškių st. 24, Palanga, Lithuania, area - 0.1000 ha, unique No. 4400-4812-0829, cadastral No. 2501/0016:529 Palanga city c. a., purpose: other (method of use: territories of one- and two-apartment residential buildings) and Building - Residential house with recreation facilities, whose address is Sergiškių st. 24, Palanga, Lithuania, total area - 170.49 sq. m, marked on the plan - 1A2/b, unique No. 4400-5816-7810, purpose: residential (two-apartment buildings);
½ part of the land plot, whose address is Sergiškių st. 24, Palanga, Lithuania, area - 0.1000 ha, unique No. 4400-4812-0829, cadastral No. 2501/0016:529 Palanga city c. a., purpose: other (method of use: territories of one- and two-apartment residential buildings) and Building - Residential house with recreation facilities, whose address is Sergiškių st. 24A, Palanga, Lithuania, total area - 170.23 sq. m, marked on the plan - 2A2/b, unique No. 4400-5816-7865, purpose: residential (two-apartment buildings).

Value of mortgaged property: 960,000 euros.

Additional security measures:

Company guarantee (promissory note);
Guarantee of director and shareholder Agniaus Matjošaitis.

Description of the mortgaged property

Factors affecting asset value and liquidity:

Quiet residential/recreational location, near the beach of the Baltic Sea;
Good and convenient access;
Residential houses of new construction;
Residential houses with partial decoration.

For more details (see About the Project) (see Documentation).

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