Projects list

Winston-Salem, Forsyth County, North Carolina 27127, United States of America (project refinancing)

Project finished

Amount of funding 280 000 €

LTV 18%

Annual interest rate 12.00%

Total expected project return 12.00%

Loan period

12 mo.

Risk

A (low)

Purpose of the loan

Refinancing

Collateral Real estate pledge

Country

United States of America

Investors 293

Raised:
280 000 € Goal:
280 000 €

100.00%

Project updates

Period paid

2020-08-10

The debtor has paid interest for the period 2020-08-10.

Period paid

2020-09-10

The debtor has paid interest for the period 2020-09-10.

Period paid

2020-10-10

The debtor has paid interest for the period 2020-10-10.

Period paid

2020-11-10

The debtor has paid interest for the period 2020-11-10.

Period paid

2020-12-10

The debtor has paid interest for the period 2020-12-10.

Part return

2020-12-10

The debtor has made a partial repayment of the loan. Amount Refunded: 100000 €.

Period paid

2021-01-10

The debtor has paid interest for the period 2021-01-10.

Early return

2021-01-14

The debtor has made an early repayment of the loan. Duration of loan 188 d.

Business loan terms

About the loan

Amount of funding 280 000 €

LTV 18 %

Risk A (low)

Payment of interest Every month

Loan repayment At the end of the loan period

Loan period 12 mo.

Minimum loan period 2 mo.

Collateral

Real estate pledge

Mortgage rank First order mortgage

Investment from 100 €.

Interest

Annual interest rate

Investing from 100.00 € - 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 12 mo.

Minimum loan period 2 mo.

Loan repayment At the end of the loan period

Estimated start date of the loan:* 2020-07-10

Estimated loan repayment date:* 2021-07-10

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 BSG ASSETS PLC

Company registration address

Naugarduko g. 19 Vilnius Lietuva LT-03226

BSG ASSETS PLC, WHICH IS A PART OF PI CAPITAL GROUP, is a company with experience in the development of residential projects in Europe and America. Despite the fact that the holding itself was established in 2018. - the company is strongly established in the real estate sector. The history of the company began in 1999. from the company UAB "Progresyvios investicijos", which developed real estate projects in the Baltic States. Later, the company successfully expanded its activities to the Latvian, Ukrainian and Slovak real estate markets and completed more than 40 projects.

Since 2012 moved its operations to the US market and became the main specialization in real estate development for the senior real estate segment.

TEAM MEMBERS

Alexander Soloveicik

Having more than 20 years of experience in the real estate market as the owner and manager of the Lithuanian real estate development company UAB Progresyvios Investicijos, who completed more than 40 residential quarter projects with 2,500 buildings in Lithuania, Latvia, Ukraine and Slovakia. 2012 He came to the U.S. and became the owner and CEO of BSG Assets, LLC, a real estate development company in the U.S., focusing on South and North Carolina. From 2018 He is the owner and CEO of PI Capital Group and BSG Assets.

Joseph C. Posh

Has 30 years of development management experience at Posh Properties. As development manager, he evaluates land, plot, prepares development and construction budgets, prepares pro-forms and activity reports, manages the development process from acquisition to rights, manages the construction process, lease negotiations and execution, contracting.

Mach Schoneveld

Has more than 30 years of experience in hotels, resorts and retirement homes. Since 2001 became CEO and founder of Sotel Enterprises, Inc. Sotel Enterprise is developing and implementing a new senior housing program / product. Mr Schoneveld analyzes the market and demand in that area. He conducts research and detailed analysis of relevant markets as well as production, construction processes, materials analysis.

Minvydas Zykas

Has more than 15 years of international experience in real estate project management, development, repair and construction, as well as business process and marketing management experience. Gained experience in Lithuanian, Latvian, Ukrainian and Slovak real estate markets. Since 2010, a member of the international company SNC Lavalin, a real estate developer in the Baltic States. The focus is on increasing the value of assets through innovation, improvement and efficiency. From 2018 Partner in PI Capital Group, LLC.

Loan protection collateral

Loan collateral:

After the project funds are raised, the property will be pledged in favor of investors with a first-line mortgage. The value of the property is $ 1,660,000 million. (Property valuation uploaded in the "Documents" section)

Personal guarantee of the manager, shareholder.

LTV (Loan to value ratio): 18%

Loan repayment: The loan is planned to be repaid by the end of the project term after the sale of the project, from the company's income or after refinancing the loan.

Current situation

The landowner is WS124 development llc, which is owned by A. Soloveičik;
A detailed plan of the land plot has been completed and approved;
Coordinated permits for site infrastructure works; building permits for construction have not yet been issued;
The whole project of the plot infrastructure installation and building construction drawings were made;
The final offer for construction works was received;
Marketing, sales and operating partnerships have preliminary agreements and are waiting for the project to start.

Market overview

Senior housing market is one of the most attractive real estate development and investment markets at the moment. Every day more than 10.000 of “Baby boomers” generation people are coming to the market (reaching age of 65 years).
Investors identified senior housing as the top prospect for both investment and development of residential property types in 2019. Senior housing ranked No. 2 for investment.
NCREIF prepared total return graph on the right, shows, that Senior segment is one of the most profitable sectors in market.
Investment in senior housing — sometimes thought of as a “recession-proof” property type — provides diversification for real estate investors with other, more cyclical property holdings.
Independent living senior segment has the biggest occupancy rate 90.2% comparing with other senior living segments: 85.3% assisting living, 85.9% nursing care. Raleigh market has 92.3% occupancy rate, what makes this market very HOT.
The top 3 our chosen regions in North Carolina shows big potential for our product. Each of them have at least 2000 potential unit market and it looks safe to go with 8 project, from 80 to 120 units in each of them. The potential number of projects gives us possibility to concentrate our activities in to NC State for next 3 to 5 years period.

Strengths and risks

Documents

#	File name	File type	Actions
1	Apraizal Sotel Independent Living Land Tract - Winston Salem, NC (2018.03.08).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

Amount of funding 280 000 €

LTV 18 %

Risk A (low)

Payment of interest Every month

Loan repayment At the end of the loan period

Loan period 12 mo.

Minimum loan period 2 mo.

Collateral

Real estate pledge

Mortgage rank First order mortgage

Investment from 100 €.

Interest

Annual interest rate

Investing from 100.00 € - fixed interest 12 %

Loan term and repayment

Loan period 12 mo.

Minimum loan period 2 mo.

Loan repayment At the end of the loan period

Estimated start date of the loan:* 2020-07-10

Estimated loan repayment date:* 2021-07-10

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

Property type

Commercial

Mortgage rank

First order mortgage

LTV

18%

Loan collateral:

Personal guarantee of the manager, shareholder.

LTV (Loan to value ratio): 18%

Loan repayment: The loan is planned to be repaid by the end of the project term after the sale of the project, from the company's income or after refinancing the loan.

Current situation

The landowner is WS124 development llc, which is owned by A. Soloveičik;
A detailed plan of the land plot has been completed and approved;
Coordinated permits for site infrastructure works; building permits for construction have not yet been issued;
The whole project of the plot infrastructure installation and building construction drawings were made;
The final offer for construction works was received;
Marketing, sales and operating partnerships have preliminary agreements and are waiting for the project to start.

Market overview

Senior housing market is one of the most attractive real estate development and investment markets at the moment. Every day more than 10.000 of “Baby boomers” generation people are coming to the market (reaching age of 65 years).
Investors identified senior housing as the top prospect for both investment and development of residential property types in 2019. Senior housing ranked No. 2 for investment.
NCREIF prepared total return graph on the right, shows, that Senior segment is one of the most profitable sectors in market.
Investment in senior housing — sometimes thought of as a “recession-proof” property type — provides diversification for real estate investors with other, more cyclical property holdings.
Independent living senior segment has the biggest occupancy rate 90.2% comparing with other senior living segments: 85.3% assisting living, 85.9% nursing care. Raleigh market has 92.3% occupancy rate, what makes this market very HOT.
The top 3 our chosen regions in North Carolina shows big potential for our product. Each of them have at least 2000 potential unit market and it looks safe to go with 8 project, from 80 to 120 units in each of them. The potential number of projects gives us possibility to concentrate our activities in to NC State for next 3 to 5 years period.

Debtor

Company title BSG ASSETS PLC

Company registration address

Naugarduko g. 19 Vilnius Lietuva LT-03226

Since 2012 moved its operations to the US market and became the main specialization in real estate development for the senior real estate segment.

TEAM MEMBERS

Alexander Soloveicik

Joseph C. Posh

Mach Schoneveld

Minvydas Zykas

Project updates

Period paid

2020-08-10

The debtor has paid interest for the period 2020-08-10.

Period paid

2020-09-10

The debtor has paid interest for the period 2020-09-10.

Period paid

2020-10-10

The debtor has paid interest for the period 2020-10-10.

Period paid

2020-11-10

The debtor has paid interest for the period 2020-11-10.

Period paid

2020-12-10

The debtor has paid interest for the period 2020-12-10.

Part return

2020-12-10

The debtor has made a partial repayment of the loan. Amount Refunded: 100000 €.

Period paid

2021-01-10

The debtor has paid interest for the period 2021-01-10.

Early return

2021-01-14

The debtor has made an early repayment of the loan. Duration of loan 188 d.

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Winston-Salem, Forsyth County, North Carolina 27127, United States of America (project refinancing)

About the loan

Investment from 100 €.

Interest

Annual interest rate

Loan term and repayment

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

Documents

Nordstreet takes the following measures to ensure a safer investment:

Project updates

Secondary market

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Business loan #00309

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Winston-Salem, Forsyth County, North Carolina 27127, United States of America (project refinancing)

Please register or sign in to access this information.

About the loan

Investment from 100 €.

Interest

Annual interest rate

Loan term and repayment

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

Documents

Nordstreet takes the following measures to ensure a safer investment:

Project updates

Secondary market

Latest loans

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

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

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

Vėjo st. 143 and 145, Klaipėda, Lithuania (4 stage)

Business loan #00309

Business loan #00308

Need a Business Development Loan?

News

Join the Nordstreet investor community!