Target € 295,000
Minimum Amount € 295,000
Minimum Investment € 50
Veskimöldre commercial land plots bridge loan - 1.stage
- The raised capital will be used to acquire a part of a land plot with a very good logistics and visibility location from which, according to the current detailed plan, three commercial land properties are formed. The funds are also used to for predevelopment costs.
- As a loan collateral, the company offers the land plot by Tallinn border (17822/80200 sized co-ownership of the land plot in Harju county), which is owned and used under the operating agreement by the loan grantor.
- 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.
- After the commercial plots will be formed, lease contracts signed and building permits issued, 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%).