Maskavas 65, Riga
Short term mortgage-backed loan
- Start of investment period01.01.1970
- Start time12.02.2021 07:15
- Asset classResidential
- Investment typeSpeculative
- Investment end date19.02.2022
- Remaining term11 months
- Expected rate of return11% p.a.
- Expected cash yield%
- No of investors313
- Goal€90 000
The Sponsor intends to develop a Residential building on Maskavas street 65, Riga, which is located near the city center with a 7-10 minute drive to Riga old town and central station. To complete the design phase and reach the construction permit Sponsor is looking for a 90 000 EUR loan secured by a 1st rank mortgage on development land plot Maskavas 65, Riga.
The land plot is located Riga, Latvia, the cultural and historical part of the Maskavas suburb, the area has dense traffic, various shopping centres, commercial buildings, kindergartens, parks, churches, residential buildings, medical centres and many other necessities available to the residents and people driving through the area. The location is a strategically good location for any building as the area is located near one of the main city’s streets which connects visitors coming from outside Riga, specifically, from southern-eastern cities
The value of the property before the development of the project has been estimated at EUR 163 000. The loan period is 12 months from the disbursement of the loan with an interest rate of 11% a year.
The loan amount will be repaid as a lump sum at the end of the loan period of earlier when construction will be started and the loan will be refinanced by construction financier. The interest payments will be paid on a quarterly basis.