Commercial – Office Space

Commercial – Office Space

Originator: estateguru

Aardla 15 bridge loan 3rd phase

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Product Description

  • The loan will be used for continue the reconstruction works of the office building.
  • The capital is raised in three phases – considering the 3rd stage of the loan, total loan principal amount is 356 200 eur.
  • An existing 2-storey buliding with a basement and loft will be rebuilt  3-storey building. Reconstructed building will contain apartments for living and office rooms.
  • As loan collateral, the company is offering the office building at Ropka district of Tartu.
  • EstateGuru security agent will have the 1st rank mortgage on behalf of the lenders.
  • The mortgage amount will take account also the 3rd stage loan (mortgage amount 900 000 eur).
  • The loan will be returned within 12 months from the sale of the apartments and office rooms.
  • LTV ratio is 58% taking into consideration the 1st, 2nd and the 3rd stage loan amount (principal amount of 1. and 2. stage 296 200 euros + 60 000 euros)
  • Member of the board of the borrower will provide a personal guarantee in the full mortgage amount.

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Funded: 60 000 €
Funded percent: 100.0%

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