Commercial – Accomodation/Service

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Commercial – Accomodation/Service

Originator: estateguru

Riia rd. development loan – 1.stage

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Product Description

  • The loan is used to acquire an operating hotel in Tartu.
  • The collateral property is a purchasable hotel building in Tartu.
  • The interest payments will be serviced from the profits of the hotel's business activities. The loan will be refinanced with a long-term bank loan in 18 months term when the building's cash flows and its profitability have raised significantly.
  • The borrower has previous experience in the development of residential real estate in Tartu and has long experience and history of working in the construction industry.
  • LTV (loan to value) ratio for the 1st stage loan is 75%
  • EstateGuru security agent will have the 1. rank mortgage on behalf of the lenders.
  • Member of the Board of the Borrower is providing a personal guarantee in full mortgage amount.
  • The borrower will add 1% interest per annum to investors who invest at least € 20,000 (a total of 13%)

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$0.00
Funded: 487 500 €
Funded percent: 100.0%

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