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This object is successfully funded

Apartment building

2 floors 594 m² Jurmala, Latvia

140,000€

raised of 140,000€

  • 13.4%

    Annual return

  • 16.3%

    Loan to Value

  • 126

    Investors

  • Invested

Repayment date 17.08.2018

Minimum investment 50€

Description

The property is located in Dzintari, one of the most wealthiest neighbourhoods in Jurmala, just about 100m from the Baltic Sea.

The owner is raising funds for refinancing current loan and for this reason is looking for a short-term loan in the amount of EUR 140,000 or 16,3% of the property market value

The loan is secured by a first rank mortgage on the property which is located at Dzintaru Avenue in Jurmala, Latvia and consists of the land plot, four apartment buildings and two auxiliary buildings.


Cadastral Reference

1300 008 1807

Independent Evaluation

According to estimate given by “Ober Haus Real Estate Latvia” company, the market value of the property is EUR 859 000 (eight hundred fifty nine thousand euro).

Financing Structure

100% Bulkestate loan.

Loan Principal

EUR 140,000, or 16,3% of the property market value.

Security

First rank mortgage.

Loan Period

12 months.

Interest Rate

Fixed interest: 13,4% per annum.

Payment Schedule

The loan principal and the interest accrued will be repaid at the end of the maturity.

Product

The property is located at Dzintaru Avenue in Jurmala in the block among Āraišu, Dzintara un Bērzaunes streets and consists of 2103 m2 land plot and the total square of the apartment buildings is 594,9 m2. The territory of the land plot is maintained and fenced, as well as provided by the following utilities – district heating, centralized electricity supply, centralized water supply and wastewater disposal.
Access to the land plot is by asphalt road.

Present Property Condition

In a good condition, buildings are inhabitated.

Neighbourhood Attractiveness and Infrastructure

  • Property is located in a posh neighbourhood of Dzintari;
  • Just ~100 m from the Baltic Sea;
  • Property is surrounded by family houses and apartment blocks;
  • Property is located in the city district with infrastructure and a good transport connection;
  • The offer of similar properties in Jurmala is limited.
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