Latvian company SIA “Zelta Jumts” is a project company established to build and operate a “modern street market”. The company owns a land plot with a total area of 815 m2 in the very centre of Riga, Latvia at the corner of Bruninieku and Kr.Barona Streets, surrounded by historical buildings and well-developed infrastructure. The company has received a construction permit to build a number of 1-2 storey wood pavilions with total useful area of 300 m2. The company is looking forward to attract 350,000 EUR big bridge-financing from Envestio participants for the time period of 9 months. The construction technology that is going to be used for the project is prefabricated modules. The net rental yield is 25 EUR per m2 per month. Valuation of the land plot without constructions is 870,000 EUR.
SIA “Zelta Jumts” wishes to offer the citizens and visitors of Riga a wonderful experience of traditional farmer and artisan market in modern interpretation. The trademark of the market is the quality and nature of its wares, namely, foods of biological and national origin, unique and attractive creations of local artists, designers and artisans – the goods not to be found on the shelves of supermarkets. Visitors will particularly enjoy friendly, quiet, and intimate lounge market atmosphere. The market will exploit the rage of themes related to various countries and exploration of their riches: the refined Italian, gorgeous Spanish, magnificent Eastern fairs tempt with new tastes and aromas.
The market will be a home of the Wine Shop and Café - a place of tranquillity and repose, where one can enjoy good wine, a cup of sustaining coffee or cocoa, converse with friends or discuss business matters. In summer, the tasty coffee and wines from the small vineyards around the world can also be enjoyed in the orchard under the trees.
Envestio participant’s investment - EUR 1 000.00
Total expected return: EUR 1 112,19Invest in this project
|Project start date||31.05.2020|
|Borrower||SIA “Zelta Jumts”, Reg. Nr. 40003628879, Latvia|
|Funding Target||€ 350,000|
|Loan Purpose||Construction of modern “slowfood street market”|
|Loan Period||9 months|
|Interest Rate||17% per annum|
|Repayment of Loan Principal||In full at the end of the Loan Period|
|Investment principal buyback available||Yes, 5% penalty rate|
|Payment of Interest Payments||Monthly, on a specific date|
|Financing type||Subordinated debt|
|Guarantee from the Project’s owner||Commercial pledge in favor of Envestio Collateral Agent|
Investment buyback is guaranteed!
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