Remīnes Street III
2 floors 911 m2 Remīnes Street, Riga, Latvia
123,143 €
raised of 137500 €
123,143 €
raised of 137500.00 €
13 %
Annual return
12 months
Duration
65 %
LTV
470
Investors
4
Days left
Mezzanine
Collateral
Repayment in 12 months (21.06.2023)
Minimum investment 50 €
Object
The property consists of a land plot with a total area of 911 sq.m and a two-story-high residential building with a total area of 216 sq.m. The private house is located in Teika, Riga, a popular residential area close to the city centre.
This quiet neighbourhood is one of the greenest areas near the city centre, which mainly consists of private homes with quiet streets. The convenient location allows reaching the city centre only in a few minutes. Nearby, there are also shopping centres, schools, a children's day-care centre, a 24-hour pharmacy, and places for entertainment, doing sports, and other recreation.
Loan target
This loan will refinance the principal amount of the previous loan of the borrower.
Amount of the loan
137 500 EUR
As the borrower has financial commitments with a credit institution, the combined LTV of 65% consists of the sum of the Bulkestate loan and the bank's financing against the value of the property. This is a mezzanine loan, that is subordinated to the claims from the bank which holds the mortgage on this property.
Independent valuation of the property
290 000 EUR
Borrower
SIA "RI estate", Reg No.40103873870
Security
Mezzanine
Repayment term
12 months
Repayment of the loan
The principal amount of the investment and the accrued interest will be paid out in a single payment at the end of the repayment term.
