Surety/Guarantee
The board member of the borrower has given a
personal suretyship to the sum of 100,000€.
Interest rate
Target
LTV
Project Summary
Asset description
The project consists of 4 two-story semi-detached
houses, a total of 8 apartments.
Each house a total of 104m² with a terrace, yard, parking
slot and warehouse on housing company’s own 3760
square meter landplot.
The estimated/target selling prices for the apartments are
€399,500 each.
At completion, the total value will be €3,196,000 according to the valuation report.
A total of €2,100,000 is planned to be gathered from the Estateguru.co marketplace.
Purpose of the loan
The loan is used to finance the purchasing of the property
and to finalize the almost ready project in Tavitie 21, Vantaa.
The sales of the property were conducted by an
enforcement authority appointed by the court.
The original constructor for the project in Tavitie21 Vantaa
was unable to finish the project as planned and filed for
bankruptcy in spring of 2022.
Exit strategy
Currently the readiness of the project is 95% and the
current valuation is €3,036,200.
The loan will be repaid by the sale of the apartments or with long term financing.
Financial analysis
The borrower Company is a Limited Liability company founded 2013. The current company revenue is €30,000.
Credit summary
Credit risk is at a low level: medium LTV, almost finished newly built semi-detached houses with a good location. Experienced borrower, Helsinki metropolitan area, asset type risk low.
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