Projects list

Vilnius st. 38A, Putiniskes, Vilnius distr., Lithuania (Refinancing)

Amount of funding 190 000 €

LTV 50%

Annual interest rate 13.00% - 14.00%

Total expected project return 8.66% - 9.33%

Loan period

8 mo.

Risk

C (higher)

Purpose of the loan

Refinancing

Collateral Real estate pledge

Country

Lithuania

Investors 161

Raised:
190 000 € Goal:
190 000 €

100.00%

Project updates

Reminder about the upcoming deadline

2021-12-08

Debtor sent a reminder about the upcoming deadline for payment

Notification of breach of payment obligation

2021-12-09

A reminder of breach of payment was sent to the Debtor

Possible period delay

2021-12-10

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

Possible period delay

2021-12-22

The borrower has promised to make the payment next week.

Reminder about the upcoming deadline

2022-01-08

Debtor sent a reminder about the upcoming deadline for payment

Notification of breach of payment obligation

2022-01-09

A reminder of breach of payment was sent to the Debtor

Possible period delay

2022-01-11

The borrower has promised to make the payment this week.

Notification of breach of payment obligation

2022-01-15

A reminder of breach of payment was sent to the Debtor

Notification of breach of payment obligation

2022-01-22

A reminder of breach of payment was sent to the Debtor

Update of information on loan delays

2022-01-28

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.

Possible period delay

2022-02-03

The client is selling the property, a notary appointed on February 8th. Delays were covered from the received part of the funds.

Reminder about the upcoming deadline

2022-02-08

Debtor sent a reminder about the upcoming deadline for payment

Possible period delay

2022-02-17

The sale transaction was delayed due to the formation of documents at a notary. The deal is postponed to this Thursday. At the same time, the client informed that the refinancing of the new transaction will not be required, intends to sell the plots and repay the loan. If no payments are made this week, enforcement of the mortgage will begin.

Period paid

2022-02-18

The debtor has paid interest for the period 2021-12-08. Payment delay days: 72.

Possible period delay

2022-02-21

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

Notification of breach of payment obligation

2022-02-22

A reminder of breach of payment was sent to the Debtor

Update of information on loan delays

2022-02-28

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.

Possible period delay

2022-03-03

An asset sale transaction is being coordinated. The sale of the property will be repaid in full, together with interest and accrued interest.

Reminder about the upcoming deadline

2022-03-08

Debtor sent a reminder about the upcoming deadline for payment

The loan has been submitted for recovery

2022-03-23

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

Information update

2022-03-27

An application has been submitted to a notary for the issuance of executive orders under the maximum mortgage. After the issuance of the executive, the bailiff will initiate enforcement action for enforcement and enforcement.

2022-05-13

Information update

2022-07-19

The process of the forced sale of assets was somewhat delayed by the fact that the borrower's manager was restricted from holding the position of manager of any legal entity, so it was necessary to appoint a corporate curator. Currently, the request to appoint a curator is being decided by the court. After the court approves the curator, the forced collection of the debt from the mortgaged property will continue. It is likely that the tenders for the mortgaged property will be announced within the month.

Information update

2022-08-19

This week, the court's order approving the proposed curator of the debtor entered into force. The bailiff mentioned that next week he will evaluate whether a new valuation of the property will be required or send an order regarding the determination of the value of the property based on the old valuation. Depending on whether a new property valuation is required, the publication of bids can take from 20 days to 2 months

Information update

2022-09-27

The bailiff has appointed an appraiser, who is currently conducting an expert assessment of the value of the pledged property. It is clarified that, in accordance with point 96 of the decision execution instructions, the first competition the bailiff announces no earlier than twenty days after sending the information about the valuation of the seized property to the debtor. At the written request of the debtor, the bailiff may also announce the first auction before this deadline.

Information update

2022-11-07

The bailiff informed that the property appraiser reported that the property appraisal will be ready by November 14. After receiving the property valuation and sending it to the parties, tenders are published after the 20-day deadline, during which a complaint about the value of the property can be submitted.

Information update

2022-12-07

The valuation report on the collateral is received on 15 November. The value of the property is 223 00EUR. At our request, the bailiff ordered a new valuation in order to establish the exact value, which, according to the previous valuation, should be higher. The new valuation will take about two weeks.

Information update

2022-12-28

A new valuation of the property and the bailiff's value assessment order are received. The value of the property is EUR 265. The auction for the sale of the pledged assets will be announced after 20 days, provided that no disputes on the value of the assets or other issues arise within this period. The valuation of the property is available in the project documents section.

Information update

2023-01-18

The first auction of the pledged property has been published, you can follow their progress by entering this link in your browser - https://www.evarzytynes.lt/evs/pages/auction.do?id=267705&number=238177.

information update

2023-03-06

After the first tenders failed, it was decided to take over the property for administration under the ownership of UAB Nordstreet. Such a decision was made because a buyer of the property was found, with whom a preliminary contract for the purchase and sale of the property is being concluded. Considering the fact that taking over the property requires a lot of legal action, it is expected that the property will be taken over and sold by the end of April. At this time, the amount agreed with the buyer will cover the invested loan amount, unpaid interest, and part of compensatory interest for the investors. We will inform you about the progress of the process. Thank you for your patience and understanding.

Payment of recovery costs received

2023-03-17

Payment of recovery costs received: 290.62 €

2023-04-28

Information update

2023-05-24

We inform you that negotiations are underway with a potential buyer regarding the sale of the mortgaged property. For now, the negotiations are stuck, as we are waiting for the clarification of several formalities that will allow the buyer to more accurately assess the possibility of acquiring the property and developing it. Best regards, Nordstreet team.

2023-07-19

2023-12-12

2023-12-14

Information update

2024-02-19

Please be informed that due to a lack of enquiries regarding the pledged property for sale, the sale price indicated in the advertisement has been reduced. The current asking price for 1 acre is 3300Eur. https://www.aruodas.lt/sklypai-vilniaus-rajone-putiniskiu-k-vilniaus-g-parduodami-slypai-putiniskiu-k-11-1336658/ Regards, Nordstreet team,

Information update

2024-03-22

Please be informed that we have updated the collateral advertisement on aruodas.lt (https://www.aruodas.lt/sklypai-vilniaus-rajone-putiniskiu-k-vilniaus-g-parduodami-slypai-putiniskiu-k-11-1336658/). So far the property has not attracted much interest. We will inform you when negotiations with a potential buyer have started. Best regards, Nordstreet team.

Business loan terms

About the loan

Purpose of the loan Investment loan

Amount of funding 190 000 €

LTV 50 %

Risk C (higher)

Payment of interest Every month

Loan repayment At the end of the loan period

Loan period 8 mo.

Minimum loan period 3 mo.

Collateral

Real estate pledge

Guarantees / surety

Mortgage rank First order mortgage

The financing need is an amount of € 190,000, which will be used to refinance existing loan on the Nordstreet platform to prolong the current loan by 9 months. This decision will give the borrower time to obtain better financing or sales conditions, fulfill existing obligations and complete preparatory works. The loan will be repaid from sale of the project or refinanced in other financial institution.

Investment from 100 €.

Interest

Annual interest rate

Investing from 100.00 € - fixed interest 13 %
Investing from 5 000.00 € - fixed interest 13.5 %
Investing from 15 000.00 € - fixed interest 13.7 %
Investing from 25 000.00 € - 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 8 mo.

Minimum loan period 3 mo.

Loan repayment At the end of the loan period

Estimated start date of the loan:* 2021-11-08

Estimated loan repayment date:* 2022-07-27

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 Suntracker LT

Company code 302891342

Company registration address

LTD Suntracker LT is a real estate development company, that develops land plots in Putiniskiu village, Vilnius street, Vilnius district. The first initial plan was to develop a "build to suit" project, but the agreement was not signed. The company needs additional time for negotiations with investors and financial institutions (which is in progress) to sell or/and develop part or all of the land plots within 9 months. Land plots are cleaned and ready for the development.

Loan protection collateral

The Collateral

1) Land plot, I/D 4400-3737-1076, address is Vilnius district. sav., Sudervės sen., Putiniškių village, Vilniaus st. 38A, total area is 0.9465 ha, intended use - Other (commercial/industrial).

2) UAB Suntracker Lt simple non-protestable promissory note in the amount of EUR 285,000, which will be guaranteed by Raimundas Želvys.

* Value of mortgaged property * according to Nill Nill as of 2020 June valuation EUR 400 000. New valuation was ordered and confirmations received from Apus Turtas LTD that current value is almost the same 4200 EUR/acre). If the valuation will differ, the financing amount will not exceed 50 LTV (Loan-to-value). The current valuation will be recieved not later than (2021.10.29) or not later than signinig of the Financning agreement date.

Location

Land plots are located in a new commercial/production district. Nearby is construction factory other storage/commercial buildings like MK Technika. On the other side of the road are built commercial buildings, storage complex. Located in Suderves district. Good connectivity via roads and can be easily reached with private transport. Situated 17 km from the centre of Vilnius.

Strengths and risks

Strengths:

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

Weaknesses:

The borrower was late in paying small amounts.
The borrower's related company was late in paying small amounts.
The borrower failed to complete the project on time.

Possibilities:

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

Threats:

Uncertain economic situation.
Property is in development stage.

Documents

#	File name	File type	Actions
1	NTR.pdf
2	Vilniaus r. sav., Sudervės sen., Putiniškių k., Vilniaus g. 38A.pdf
3	ekspertizės aktas Nr. E-22-12-09-A68.pdf
4	Išieškojimo negalimumo aktas Želvys.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 Investment loan

Amount of funding 190 000 €

LTV 50 %

Risk C (higher)

Payment of interest Every month

Loan repayment At the end of the loan period

Loan period 8 mo.

Minimum loan period 3 mo.

Collateral

Real estate pledge

Guarantees / surety

Mortgage rank First order mortgage

Investment from 100 €.

Interest

Annual interest rate

Investing from 100.00 € - fixed interest 13 %
Investing from 5 000.00 € - fixed interest 13.5 %
Investing from 15 000.00 € - fixed interest 13.7 %
Investing from 25 000.00 € - fixed interest 14 %

Loan term and repayment

Loan period 8 mo.

Minimum loan period 3 mo.

Loan repayment At the end of the loan period

Estimated start date of the loan:* 2021-11-08

Estimated loan repayment date:* 2022-07-27

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

50%

Documentation

Asset Valuation Report

Report preparation date

2020-05-29

Assessor

LTD Nill Nill

The Collateral

1) Land plot, I/D 4400-3737-1076, address is Vilnius district. sav., Sudervės sen., Putiniškių village, Vilniaus st. 38A, total area is 0.9465 ha, intended use - Other (commercial/industrial).

2) UAB Suntracker Lt simple non-protestable promissory note in the amount of EUR 285,000, which will be guaranteed by Raimundas Želvys.

Location

Project updates

Reminder about the upcoming deadline

2021-12-08

Debtor sent a reminder about the upcoming deadline for payment

Notification of breach of payment obligation

2021-12-09

A reminder of breach of payment was sent to the Debtor

Possible period delay

2021-12-10

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

Possible period delay

2021-12-22

The borrower has promised to make the payment next week.

Reminder about the upcoming deadline

2022-01-08

Debtor sent a reminder about the upcoming deadline for payment

Notification of breach of payment obligation

2022-01-09

A reminder of breach of payment was sent to the Debtor

Possible period delay

2022-01-11

The borrower has promised to make the payment this week.

Notification of breach of payment obligation

2022-01-15

A reminder of breach of payment was sent to the Debtor

Notification of breach of payment obligation

2022-01-22

A reminder of breach of payment was sent to the Debtor

Update of information on loan delays

2022-01-28

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.

Possible period delay

2022-02-03

The client is selling the property, a notary appointed on February 8th. Delays were covered from the received part of the funds.

Reminder about the upcoming deadline

2022-02-08

Debtor sent a reminder about the upcoming deadline for payment

Possible period delay

2022-02-17

Period paid

2022-02-18

The debtor has paid interest for the period 2021-12-08. Payment delay days: 72.

Possible period delay

2022-02-21

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

Notification of breach of payment obligation

2022-02-22

A reminder of breach of payment was sent to the Debtor

Update of information on loan delays

2022-02-28

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.

Possible period delay

2022-03-03

An asset sale transaction is being coordinated. The sale of the property will be repaid in full, together with interest and accrued interest.

Reminder about the upcoming deadline

2022-03-08

Debtor sent a reminder about the upcoming deadline for payment

The loan has been submitted for recovery

2022-03-23

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

Information update

2022-03-27

2022-05-13

Information update

2022-07-19

Information update

2022-08-19

Information update

2022-09-27

Information update

2022-11-07

Information update

2022-12-07

Information update

2022-12-28

Information update

2023-01-18

information update

2023-03-06

Payment of recovery costs received

2023-03-17

Payment of recovery costs received: 290.62 €

2023-04-28

Information update

2023-05-24

2023-07-19

2023-12-12

2023-12-14

Information update

2024-02-19

Information update

2024-03-22

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Vilnius st. 38A, Putiniskes, Vilnius distr., Lithuania (Refinancing)

About the loan

Investment from 100 €.

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 €.

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

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Vilnius st. 38A, Putiniskes, Vilnius distr., Lithuania (Refinancing)

Please register or sign in to access this information.

About the loan

Investment from 100 €.

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 €.

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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Ukmergės g. 326, Vilnius, Lietuva (4 stage)

Palionių str. 27, Vilnius, Lithuania (2 stage)

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