Object The investment object is an apartment with total area of 156.00 m2 in residential complex “Sun Terraces” on Dzintaru prospect 36, Jūrmala, a highly attractive residential area with close proximity to the sea. The complex is situated in the very centre of Jūrmala, next to its largest leisure and recreational park, only 5-minute walk from the sea. It is a 15-minute drive away from the Riga international airport and a 20-minute drive to the Riga city centre. The loan target The borrower is looking for a bridge loan to finance its real estate portfolio until it completes the sale of a property. Loan and interest will be repaid by funds received from the sale of this property. Amount of the loan The loan amount will comprise EUR 270,000 and it will carry a 16% annual interest rate. Independent valuation of the property 400 000 EUR The borrower LP Private Property SIA, it’s managers and owners have long-term experience in residential real estate and has successfully completed a number of similar projects. Security 1st rank mortgage Repayment term 12 months Repayment of the loan The principal payment and the accrued interest will be paid out at the end of the term. *Bulkestate incentive payment For this project Bulkestate offers the following special incentive pay (cash-back) for investors by sharing part of its fee received from the client: Investors making EUR 10,000 or larger investment will receive 1% incentive payment from the invested amount, while Investors making EUR 25,000 or larger investment will receive 2% incentive payment from the invested amount.
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