Executive Summary

• The loan is used to release equity capital and increase the operating capital of the company.
• The loan will be repaid by refinancing, from the sale of the collateral property, or from the incoming business revenues of the company.
• The loan is secured with a first rank mortgage.
• The collateral for the loan is a 6-story commercial office building (4.490 m2) located in Pohjois-Haaga, Helsinki. Pohjois-Haaga is a district of Helsinki located 10 km to the North of Helsinki city centre with good public transport connections and easy access by vehicles. 
• The asset is currently valued at 10.100.000 € and after fully leased the value is estimated to increase to 11.400.000 €. Once fully leased, the estimated rental income per year is 1.067.040 €. 
• The borrower plans to fully lease the office building and re-finance the Estateguru loan with long-term bank financing. Alternatively the group also has other streams of revenue from leasing commercial properties and selling completed development projects with which it can repay the Estateguru loan. 
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• The borrower retains the opportunity to raise additional capital if necessary, provided that the ratio of the loan and the market value of the collateral (LTV) does not exceed 43.0%.
• The established mortgage will also cover loans of additional stages of financing.
• Prior to the additional stages of financing, construction supervision must confirm the completed works (if construction has commenced and works have been performed in a considerable amount) and a third party must assess the market value of the collateral.
• The LTV in the 1 stage is 19.8% and can increase to 43.0% in further stages.

Executive Summary

• The loan is used for a preparation period of a development project plus starting the first construction work.
• The loan will be repaid by refinancing, from the sale of the collateral property, or from the incoming business revenues of the company.
• The loan is secured with a first rank mortgage.
• The borrower retains the opportunity to raise additional capital, if necessary, as the collateral value increases.
• The mortgage was established during a prior financing process and will also cover additional stages of financing.
• Prior to the next stage of financing, construction supervision must confirm the completed works (if construction has commenced and works have been performed in a considerable amount) and a third party must assess the market value of the collateral.
• The LTV in 3 stage is 57.7% and can increase to 59.0% in further stages.
• The development project is financed based on the value of construction invoices, which arise from construction supervision acts prepared on the basis of the work performed. Consequently, we consider the cost of construction work actually performed, in addition to the primary market value, to be the value of the collateral.

Executive Summary

• The loan is used for a preparation period of a development project plus starting the first construction work.
• The loan will be repaid by refinancing with a long-term bank loan.
• The loan is secured with a first rank mortgage.
• A plot with a detailed plan for a 14 storey building - Volta Tower I
• Gross area of 14 600 m2 above and 9 100 m2 underground (for parking).
• Eighty five apartments in total
• The Volta Quarter is located just between the sea and the Old Town in the neighbourhood of Kalamaja, highly regarded for its culture and entertainment scene.
• In the course of cooperation between Estateguru and Endover, €11 950 000 has been lent to Endover. All the loans have been repaid on or before the due dates. The two biggest project were Klaussoni Kommivabrik in Kalamaja (same area as Volta project) with total loan amount of € 5,507,470 and Rocca Tower A and B - €4 570 429 was lent. 
• The borrower retains the opportunity to raise additional capital, if necessary, as the collateral value increases.
• The mortgage was established during a prior financing process and will also cover additional stages of financing.
• Prior to the next stage of financing, construction supervision must confirm the completed works (if construction has commenced and works have been performed in a considerable amount) and a third party must assess the market value of the collateral.
• The LTV in 5 stage is 55.5% and can increase to 70.0% in further stages.
• The development project is financed based on the value of construction invoices, which arise from construction supervision acts prepared on the basis of the work performed. Consequently, we consider the cost of construction work actually performed, in addition to the primary market value, to be the value of the collateral.

Executive Summary

• The loan is used to continue construction works.
• The loan will be repaid from sales revenue of a completed development project.
• The loan is secured with a first rank mortgage.
• Member of the management board of the borrower will provide a personal surety in the full mortgage amount.
• The borrower retains the opportunity to raise additional capital, if necessary, as the collateral value increases.
• The mortgage was established during a prior financing process and will also cover additional stages of financing.
• Prior to the next stage of financing, construction supervision must confirm the completed works (if construction has commenced and works have been performed in a considerable amount) and a third party must assess the market value of the collateral.
• The LTV in 5 stage is 65.1% and can increase to 69.0% in further stages.

Executive Summary

• The loan is used to finance the purchasing of a property.
• The loan will be repaid from sales revenue of a completed development project.
• The loan is secured with a first rank mortgage.
• Member of the management board of the borrower will provide a personal surety in the full mortgage amount.
• The borrower retains the opportunity to raise additional capital, if necessary, as the collateral value increases.
• The mortgage was established during a prior financing process and will also cover additional stages of financing.
• Prior to the next stage of financing, construction supervision must confirm the completed works (if construction has commenced and works have been performed in a considerable amount) and a third party must assess the market value of the collateral.
• The LTV in 2 stage is 54.2% and can increase to 65.0% in further stages.

Executive Summary

• The loan is used for a preparation period of a development project plus starting the first construction work.
• The loan will be repaid from the sale of the collateral property or refinancing by a long-term bank loan.
• The loan is secured with a first rank mortgage.
• The borrower retains the opportunity to raise additional capital, if necessary, as the collateral value increases.
• The mortgage was established during a prior financing process and will also cover additional stages of financing.
• Prior to the next stage of financing, construction supervision must confirm the completed works (if construction has commenced and works have been performed in a considerable amount) and a third party must assess the market value of the collateral.
• The LTV in 7 stage is 51.03% and can increase to 65.3% in further stages.
• The development project is financed based on the value of construction invoices, which arise from construction supervision acts prepared on the basis of the work performed. Consequently, we consider the cost of construction work actually performed, in addition to the primary market value, to be the value of the collateral.