Projects list

Teatra str. 9, Jurmala, Latvia

Fully invested

Amount of funding 283 200 €

LTV 31%

Annual interest rate 13.00% - 14.00%

Total expected project return 25.99% - 28.00%

Loan period

24 mo.

Risk

B (medium)

Purpose of the loan

Refinancing

Collateral Real estate pledge

Country

Latvia

Investors 138

Raised:
283 200 € Goal:
283 200 €

100.00%

Business loan terms

About the loan

Purpose of the loan Loan refinancing

Amount of funding 283 200 €

LTV 31 %

Risk B (medium)

Payment of interest Every month

Loan repayment At the end of the loan period

Loan period 24 mo.

Minimum loan period 4 mo.

Collateral

Real estate pledge

Mortgage rank First order mortgage

Amount allocated by project owner 99 660.00 €

Purpose of the loan

The amount of EUR 283 200 is required for the financing, which is raised in one stage. The borrower currently has a Nordstreet loan, part of which has already been repaid and has applied for refinancing for the remaining part. As the Borrower has not defaulted on any instalments during the entire period of the existing loan, the refinancing of the Loan is announced. The proceeds of the Loan will be used to refinance the existing Loan for an additional term of 24 months. The loan will be repaid by refinancing with another financial institution or from the proceeds of the sale of the company's business or real estate. The amount that the project owner is contributing to the project is EUR 99 660.

About the property

The building was built in 1890 and fully renovated with modern solutions and put into operation in 2009 according to an approved project. Two ground floors, one basement floor. The energy efficiency of the dwelling house has been significantly improved after the renovation-construction works. The house has been insulated with modern polyurethane panels instead of the old polystyrene foam panels, and windows have been additionally insulated with moisture- and mould-resistant materials. The house is fully furnished. The facade has been renovated: the wooden boards have been treated against insects and mould, coated with moisture-reducing agents, painted, and the tiles on the terrace have been replaced. A new heating boiler - Mitsubishi Electric air/water heat pump - has been installed, which has reduced the maintenance costs of the building three times.

Layout of the house:

1st floor: entrance hall, toilet, fully equipped bathroom, kitchen with dining room, living room, office, guest bedroom.
2nd floor: three bedrooms (one with en-suite bathroom), fully equipped bathroom, spacious terrace with access from two rooms.
Basement of the house has a boiler room, water filters and three storage rooms.

The house is in excellent technical condition with quality finishing and equipment. The finishing materials used in the finishing are of high quality. The layout of the building corresponds to the cadastral surveys.

For more information (see Loan collateral) (see Documents).

Investment from 11.00 €.

Interest

Annual interest rate

Investing from 11.00 € - fixed interest 13 %
Investing from 1 000.00 € - fixed interest 13.25 %
Investing from 3 000.00 € - fixed interest 13.5 %
Investing from 5 000.00 € - fixed interest 13.75 %
Investing from 10 000.00 € - fixed interest 14 %

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 24 mo.

Minimum loan period 4 mo.

Loan repayment At the end of the loan period

Estimated start date of the loan:* 2025-01-03

Estimated loan repayment date:* 2027-01-03

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 Navis tecta

Company code 304830822

Company registration address

Blindžių g. 7 Vilnius Lithuania LT-08111

UAB Navis tecta is a company incorporated on 20 April 2018. The company specializes in sourcing, managing and investing in business and investment projects.

The borrower has never defaulted on a single payment during the entire term of the loan.

The shareholder of the company is:

Maksims Ter-Oganesovs 100% of the shares.

Loan protection collateral

Loan collateral:

The following property located at Teatra g. 9, Jūrmala, Latvia (cadastre No. 1300 009 2903) is subject to a first-rank mortgage:

Land plot with an area of 950 m2, cadastre No. 1300 009 2301;
A two-storey wooden dwelling house with a total area of 339,9 m2, cadastral No. 1300 009 2903 001;
In 2008, together with the residential house, were built and put into operation light concrete garage buildings with a total area of 41,6 m2, cadastral No. 1300 009 2903;
The real estate is registered in the land register of the Jūrmala Court (Register No. 4329).

Value of the pledged property: EUR 925 000.

Additional security for the loan is:

Guarantee (promissory note) of the company (borrower).

Description of the pledged assets

The pledged assets are a plot of land, a two-storey wooden dwelling house with a cellar, built in 1890, fully renovated and put into operation in 2009, and a pair of lightweight concrete garage buildings, built in 2008 together with the dwelling and put into operation in 2008. The premises are used for their intended purpose. The mortgaged property constitutes a complete unit.

The mortgaged property is located in the central part of Jūrmala - Majori, in the section of Teātra Street between Juras and Rajonas Streets. Access is from Jura Street, which is asphalted and in excellent technical condition. Surrounding buildings are new or completely renovated detached houses.

For more information (see About the project) (see Documents).

Strengths and risks

Strengths:

The borrower made payments on time and without delay. (current loan at Nordstreet)
The first order of real estate pledge - mortgage.
Company guarantee (bill of exchange).
The project is completed.
The LTV of the project is low.
Liquid pledged assets

Weaknesses:

Borrower 's activities are in a competitive sector.
The borrower failed to complete the project on time.
The amount of funding is higher than average, so the project funding period may take longer.
The company experienced a loss.

Possibilities:

The annual interest rate payable by the borrower is 13.00-14.00%.

Threats:

Uncertain economic situation.
Loan refinancing.

Documents

#	File name	File type	Actions
1	UAB Navis tecta įstatai.pdf
2	Jurmala Teatra 9_2024 Parakstits.pdf
3	RC - Jurmala Teatra 9_2024 Parakstits.pdf
4	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 Loan refinancing

Amount of funding 283 200 €

LTV 31 %

Risk B (medium)

Payment of interest Every month

Loan repayment At the end of the loan period

Loan period 24 mo.

Minimum loan period 4 mo.

Collateral

Real estate pledge

Mortgage rank First order mortgage

Amount allocated by project owner 99 660.00 €

Purpose of the loan

About the property

Layout of the house:

1st floor: entrance hall, toilet, fully equipped bathroom, kitchen with dining room, living room, office, guest bedroom.
2nd floor: three bedrooms (one with en-suite bathroom), fully equipped bathroom, spacious terrace with access from two rooms.
Basement of the house has a boiler room, water filters and three storage rooms.

For more information (see Loan collateral) (see Documents).

Investment from 11.00 €.

Interest

Annual interest rate

Investing from 11.00 € - fixed interest 13 %
Investing from 1 000.00 € - fixed interest 13.25 %
Investing from 3 000.00 € - fixed interest 13.5 %
Investing from 5 000.00 € - fixed interest 13.75 %
Investing from 10 000.00 € - fixed interest 14 %

Loan term and repayment

Loan period 24 mo.

Minimum loan period 4 mo.

Loan repayment At the end of the loan period

Estimated start date of the loan:* 2025-01-03

Estimated loan repayment date:* 2027-01-03

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

Property type

Residential

Mortgage rank

First order mortgage

LTV

31%

Documentation

Asset Valuation Report

Report preparation date

2024-11-12

Assessor

SIA “Nira fonds real estate”

Loan collateral:

The following property located at Teatra g. 9, Jūrmala, Latvia (cadastre No. 1300 009 2903) is subject to a first-rank mortgage:

Land plot with an area of 950 m2, cadastre No. 1300 009 2301;
A two-storey wooden dwelling house with a total area of 339,9 m2, cadastral No. 1300 009 2903 001;
In 2008, together with the residential house, were built and put into operation light concrete garage buildings with a total area of 41,6 m2, cadastral No. 1300 009 2903;
The real estate is registered in the land register of the Jūrmala Court (Register No. 4329).

Value of the pledged property: EUR 925 000.

Additional security for the loan is:

Guarantee (promissory note) of the company (borrower).

Description of the pledged assets

For more information (see About the project) (see Documents).

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