Originator: estateguru

Veskimöldre terraced houses bridge loan I

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Product Description

  • The raised capital will be used to acquire 2 residential land plots with a construction right for terraced houses. The funds are also used for development preparation period as well as to start the first construction works.
  • As a loan collateral, the borrower offers the purchasable 2 land plots (land plots with a construction right for terraced houses) in the Veskimöldre area, Laagri.
  • The borrower has a long-term experience in real estate development.
  • The borrower will be paying monthly interest payment partially, meaning that 50% of the amount is paid monthly and 50% will accumulate to the end of the loan term period.
  • The loan will be refinanced with the bank's construction loan in 12 months term.
  • EstateGuru security agent will have the 1.rank mortgage on behalf of the lenders.
  • The borrower's parent company guarantees the loan's interest payments (including the possible penalties and compensations) and the loan's principal amount is guaranteed by the seller's repurchase obligation.
  • The borrower is adding 1% bonus annual interest for investors committing more than €10,000 (12%).

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Funded: 250 000 €
Funded percent: 100.0%

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