Object The mortgaged property is located in Āgenskalns and consists of the land plot with a total area of 1432 sq.m. There are two building on the land plot - a wooden building with a total area of 789,8 sq.m, as well as masonry building with total area of 1677,9 sq.m. The wooden building consists of 8 apartments, while the 4-story high masonry building has 18 apartments and 3 commercial premises. The property is located on the corner of the Botanical Garden in the area with well-developed infrastructure and only a 10-minute drive from the city centre and a 15-minute drive from Riga airport. The surrounding area is a mix of residential houses and light commercial facilities, educational institutions as well as the hip Kalnciems district – a unique 19th century's complex of wooden buildings, which is a weekly centre of farmer’s markets, concerts, street food festivals and other entertaining events. The loan target The first stage of the loan is intended for the purchase of the property, while the next stages will involve providing funding for the renovation works and the surrounding territory. The building will be acquired with a goal to perform cosmetic improvements and make quick sales of apartments. Amount of the loan The loan amount will comprise EUR 750 000 EUR. Security 1st rank mortgage Loan term 10 months Repayment of the loan The principal payment will be paid out at the end of the term with the accrued interest. *Bulkestate incentive payment For this project Bulkestate offers the following special incentive pay for investors: 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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