Loan Amount
€50,000.00
Initial offer
€47,500.00
Available
€0.00
Available
€0.00
IR
14.00 %
LTV
-
Term
23 mo. 11 d.
€47,500.00 of €47,500.00

Loan details

Loan Type
Development Project
Loan Amount
50,000.00
Repayment type
Balloon
Date Listed
17.03.2020
Date Issued
16.03.2020
Maturity date
16.03.2022
Loan Originator
Northcon Norge AS
Security
Guaranteed buyback

BuyBack guarantee in case of borrower's payments delay for more than 60 days

There is an agreement that AS Northcon Norge issues a loan to Norwegian Company under investment contract dated 16/03/2020 to finance the development project in Stange, Norway.

Money will be used to finance land plot purchase and construction of 3 buildings for future sale. One of the houses will have six apartments, another house will have four apartments. The total living area per three buildings will be 932 sq. m.

The collateral of loan are current and future assets of the borrower, including the land plot and buildings.

Stange is a small «sleeping town» near the city of Hamar. Stange is connected to Hamar with several types of transport – train, bus and a highway. Bus stop is located 300 m from property goes every 20 minutes and it takes 20 min. to get to Hamar Center. Stange kommune is growing, since property prices in Hamar are getting too expensive. The average sales price for NEW(!) buildings around Hamar and Stange is in the range from 39 000 – 50 000,- NOK/m2.

The contractor

The construction works will be performed by the subsidiary company of Verso M Invest- Verso M, which is registered in the Russian Federation. The construction track record of Verso M since 1999 includes the real estate projects all across Russia and Belarus, including the residential buildings, hospital, airport in Khanty-Mansiysk, schools, and hockey arena. The key competitive advantage of Verso M is the construction works in tough climate zone, since the majority of projects were completed in Siberia and Northern Russia.

Project timeline:

Start of the foundation: August 2020

Start of supply elements: September 2020

External finishing and completion of project: April 2022

Additional Information

AS Northcon Norge is a developer and building contractor in Norway, that has an extensive experience in construction industry, developing more than 180 building across Scandinavia, including multi-storey apartment complexes, hotels, apartment buildings and dozens of private houses.

Property condition

All brand-new, turnkey design finishing

Building material

Timber

Number of houses

3

Number of floors

3

Total Area

Land plot of 2700 sq.m and living area of 932 sq.m. in 3 buildings

Address

Country:  Norway

City: Hamar, Stange

Street: Navneberget

Collateral

current and future assets of the borrower, including the land plot and the buildings

Number of rooms

2 houses with 6 apartments; 1 house with 4 apartments

Year of completion

2022

 

DESCRIPTION

• General contractor has obtained the land plot and the right from local municipality to build 3 houses in the new neighborhood in Stange, Hamar, Norway.

• Two houses will have six apartments and one house will have four apartments.

• The townhouses are built for the future sale.

• Stange is a small «sleeping town» near the city of Hamar.

• Stange is connected to Hamar with several types of transport – train, bus and a highway.

• Bus stop is located 300 m from property goes every 20 minutes and it takes 20 min. to get to Hamar Center.

• Stange kommune is growing, since property prices in Hamar are getting too expensive.

• The average sales price for NEW(!) buildings around Hamar and Stange is in the range from 39 000 – 50 000,- NOK/m2.

• 932 m2 (3 houses – 2 houses with 6 apartments, 1 house with 4 apartments).

Collateral

current and future assets of the borrower, including the land plot and the buildings
Norway
Investor
Amount
Available
Total
Discount / Premium
Price
Investor
Amount €0.00
Available €0.00
Total €0.00
Discount / Premium 0.0%
Price €0.00
Investor Investor 1
Amount €100.00
-
-
-
-
Investor Investor 2
Amount €50.00
-
-
-
-
Investor Investor 3
Amount €20.00
-
-
-
-
Investor Investor 4
Amount €20.00
-
-
-
-
Investor Investor 5
Amount €50.00
-
-
-
-
Investor Investor 6
Amount €10.00
-
-
-
-
Investor Investor 7
Amount €20.00
-
-
-
-
Investor Investor 8
Amount €10.00
-
-
-
-
Investor Investor 9
Amount €20.00
-
-
-
-
Investor Investor 10
Amount €35.00
-
-
-
-
Investor Investor 11
Amount €186.32
-
-
-
-
Investor Investor 12
Amount €10.00
-
-
-
-
Investor Investor 13
Amount €10.00
-
-
-
-
Investor Investor 14
Amount €10.09
-
-
-
-
Investor Investor 15
Amount €20.00
-
-
-
-
Investor Investor 16
Amount €20.00
-
-
-
-
Investor Investor 17
Amount €50.00
-
-
-
-
Investor Investor 18
Amount €20.00
-
-
-
-
Investor Investor 19
Amount €10.00
-
-
-
-
Investor Investor 20
Amount €50.00
-
-
-
-
Investor Investor 21
Amount €400.00
-
-
-
-
Investor Investor 22
Amount €19.00
-
-
-
-
Investor Investor 23
Amount €10.00
-
-
-
-
Investor Investor 24
Amount €20.00
-
-
-
-
Investor Investor 25
Amount €100.00
-
-
-
-
Investor Investor 26
Amount €10.00
-
-
-
-
Investor Investor 27
Amount €12.01
-
-
-
-
Investor Investor 28
Amount €18.22
-
-
-
-
Investor Investor 29
Amount €20.00
-
-
-
-
Investor Investor 30
Amount €10.00
-
-
-
-
Investor Investor 31
Amount €20.00
-
-
-
-
Investor Investor 32
Amount €23.19
-
-
-
-
Investor Investor 33
Amount €20.00
-
-
-
-
Investor Investor 34
Amount €10.00
-
-
-
-
Investor Investor 35
Amount €20.00
-
-
-
-
Investor Investor 36
Amount €23.00
-
-
-
-
Investor Investor 37
Amount €10.00
-
-
-
-
Investor Investor 38
Amount €50.54
-
-
-
-
Investor Investor 39
Amount €25.00
-
-
-
-
Investor Investor 40
Amount €20.00
-
-
-
-
Investor Investor 41
Amount €10.00
-
-
-
-
Investor Investor 42
Amount €10.00
-
-
-
-
Investor Investor 43
Amount €10.00
-
-
-
-
Investor Investor 44
Amount €10.00
-
-
-
-
Investor Investor 45
Amount €10.00
-
-
-
-
Investor Investor 46
Amount €20.00
-
-
-
-
Investor Investor 47
Amount €50.00
-
-
-
-
Investor Investor 48
Amount €50.00
-
-
-
-
Investor Investor 49
Amount €10.00
-
-
-
-
Date
Principal
Interest
Total
Received i
Payment date
Status
Date 16.03.2022
Principal €47,500.00
Interest €13,300.00
Total €60,800.00
-
-
Status Scheduled
Loan Amount
€50,000.00
Initial offer
€47,500.00
Available
€0.00
Available
€0.00
IR
14.00 %
LTV
-
Term
23 mo. 11 d.
€47,500.00 of €47,500.00

Loan details

Loan Type
Development Project
Loan Amount
50,000.00
Repayment type
Balloon
Date Listed
17.03.2020
Date Issued
16.03.2020
Maturity date
16.03.2022
Loan Originator
Northcon Norge AS
Security
Guaranteed buyback