Riga, Latvia

Kuldiga Office Building Renovation

Active

Kuldiga Office Building Renovation

Borrower:

SIA "Projekts B"

Type:

Real estate

Opens:

25 Sep 2019

Extended till:

-

Interest rate:

16.40% per annum

Loan period:

9 months

Funding target:

€ 348 000

Still need:

€ 218 267

Funded:

€ 129 733

Buyback:

5 % fee

Risk level:

Low

Collateral agent:

Monethera GROUP OÜ

Guarantees:

Pledged commercial assets and personal guarantees of the director

Repayment schedule:

Monthly on the 1st day of each month

Monethera is delighted to present an advantageous investment opportunity for you. SIA "Projekts B" is a well-known real estate company based in Riga, Latvia.

Years of successful administration of the Latvian and European property showed the ability of SIA "Projekts B" to care for, monitor, and guarantee the profitability, useful life and condition of its products. The specialists of the company are in charge of property management that involves the processes, systems, and human resources required to manage the life cycle of all acquired property, including acquisition, control, accountability, responsibility, maintenance, utilization, and disposition.

Taking into consideration the fierce competition and increasing availability in the market, SIA "Projekts B" chose the path of an innovative approach and recent technologies to be in the vanguard and guess customer’s desires.

Project's target

Ultimately, SIA "Projekts B" has purchased an uncompleted three-storey office building in Kuldiga with a view for further rental. The company wants to invest a considerable amount of money in accomplishing the total renovation of the building and turning it into fully equipped contemporary offices. The renovation process will include further construction, improvement of the existing premises, the works for facade heat insulation, interior setup, and land improvement.

Why SIA "Projekts B"

The sustainable refurbishment of buildings is of increasing interest because existing building stock far outweighs new building stock in developed cities. The primary purpose of an office environment is to support its occupants in performing their jobs. While offices can be built in nearly any location and in almost any building, some modern requirements for offices make this more difficult. That’s why SIA "Projekts B" sets an objective to guarantee that their building meets all contemporary requirements. The Kudliga office building will possess work spaces, meeting spaces, and support spaces.

Depending on the basic purposes, work spaces will be divided into.

Open spaces, suitable for routine activities which need relatively little concentration; team spaces, for teamwork which demands frequent internal communication; cubicles, semi-enclosed workspaces for one person per cubicle; private and shared offices, study booths, work lounges, etc.

Small and large meeting spaces suitable for formal interaction, brainstorm rooms for workshops and brainstorming operations and meeting points for informal meetings.

Support spaces that will be used for secondary activities such as filing documents or taking a break.


SIA "Projekts B" works closely together with the most prominent architectural offices and designers to be sure that the refurbishment will bear in mind the slightest details, such as a print and copy area, storage and filling spaces, mail area, pantry area, break area, smoking room, circulation space, waiting area, etc. At Monethera, we are strongly convinced that investing in such a thought-out, in demand, and promising project will bring you money and will create new opportunities for future investments.

About the company

The main office of SIA "Projekts B" is situated in the centre of the Latvian capital, Riga.

During the years of its activity, the company has shown excellent results and established long-term cooperations with many companies in Latvia and EU. The impeccable credentials are imperative in the market of real estate; word travels fast, and SIA "Projekts B" has gained the respect of both the clients and competitors. The company provides constant assistance and is ready to help with every query. This approach has allowed us to meet the clients' expectations and to guarantee the highest quality of provided services.

The company has brought together in one place outstanding and highly qualified professionals of the real estate market. Cooperation with the best architectural bureaus and designers, and quality materials used for the construction or renovation and monitoring of the process minimizes and almost eliminates every possible risk. We, at Monethera, are firmly convinced that this company is a vivid example of a successful and reliable real estate market player.

Summary / Project description

Industry: real estate / office building renovation and rental.

The total space of the building is 991,7m2, 3 floors.

The uncompleted building is ready at 40% (walls, roof, and necessary amenities). To complete the construction process, it is necessary to perform installation of doors and windows, make installation of additional heat insulation and complete facade decoration, mount electrics, put in plumbing and heating, make interior setup and to perform land improvement.

The necessary amount of money to collect is 348.000 EUR.

The loan period is for 9 months.



This project guarantees high profitability, short time-limits for the realization and liquidity. If you want to diversify your investment portfolio and receive your money back rapidly, we offer you an optimal option.

The current investment opportunity offers you to loan money at 16,4% of the annual interest rate.

Stages of the project:

1

Renovation, estimated value: installation of additional heat insulation and complete facade decoration will cost 72.000 EUR; installation of doors and windows has a cost of 36.000 EUR; utility mounting, putting in plumbing and heating will cost 138.000 EUR; interior setup will cost 145.000 EUR; land improvement will cost 107.000 EUR.

2

Сommissioning process.

3

Office rental.

4

Engagement of bank financing, the necessary amount is at the rate of 60% of the estimated value of the building, the provisional estimated value of the building is 640.000 EUR.

5

Refund of the encouraging funding to the investors. The total cost of the project is 498.000 EUR. Company owned resources are 150.000 EUR. Necessary funding 348.000 EUR.
A bank loan for encouraging funding return to the investors is 60% of the provisional estimated value of the building, in numbers, it is 384.000 EUR. (the estimated value of the completed and renovated building is 640.000 EUR).

6

Terms of realization: Confirmation of the construction documents will require 30 days. Renovation and installation of additional heat insulation and complete facade decoration, installation of doors and windows, utility mounting, putting in plumbing and heating, interior setup, land improvement will require 180 days. Сommissioning process of the building will last 30 days. Engagement of bank financing and refund of the encouraging funding to the investors will require 30 days.

Why SIA "Projekts B" is looking for funding?

SIA "Projekts B" has purchased an uncompleted three-storey office building in Kuldiga, Latvia with a view for further rental. The company wants to invest a considerable amount of money in accomplishing the total renovation of the building. For the moment, the company has not enough funds to guarantee and pay all the expenses of the renovation process. To avoid any risk for other existing projects, they are ready to invest 150.000 EUR. To cover all the costs of finishing of the building, the management of SIA "Projekts B" made a reasonable decision to loan the necessary insufficient amount of investments (348.000 EUR).

We, at Monethera, carefully examined the proposal of SIA "Projekts B" and we are convinced that they are able to fulfill the assumed obligations and guarantee the repayment of the entire loan.

Loan

The funding target is 348.000 EUR for 9 months.

Interest rate: 16,4% annual, secured debt.

Loan period: 9 months.

Repayment schedule: Monthly on the 1st day of each month.

Loan purpose: Financing of the renovation of the uncompleted three-storey office building in Kuldiga, Latvia with a view for further rental.

Repayment of Principal Loan in full at the end of the loan period.

The future of the project and long term cooperation: Once the total amount of the loan is repaid, SIA "Projekts B" is open to discussing further cooperation opportunities.

To invest:

1

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2

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3

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4

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