Introducing the first phase of the Phase Financing project – „P00001174". The funds raised will be used for real estate development. The amount to be raised in this phase is EUR 104 500.

About the project owner:
The project owner has experience in real estate. The property owner has experience in real estate projects with a total area of approximately 2 000 square metres. The developer has many years of experience in the construction business. The developer has a long experience in the development of single-family residential projects and has successfully developed and successfully implemented a single-family residential project „Zagrados namai" (Ireniskes village, Kaunas district) with his partners.

About the project:
D12 is an apartment project being developed in Kaunas Dainava district. The development will be located in a very convenient location - Dubingiu Street, adjacent to Savanorių Avenue, thus ensuring smooth access to the city centre and the surrounding districts. Draugystes and Kalnieciu Parks are just a 10-15 minute walk away. The apartment block will have three floors, 12 apartments in total. The average size of a two-room apartment will be 43 square metres, while the average size of a three-room apartment will be 62 square metres. The total floor area of the building will be 659.30 square metres, the total useful floor area of the apartments will be 584.33 square metres, and the ground floor will have warehouses and surface parking spaces. The apartments will be distributed over all 3 floors of the building.

Project objective:
The project owner has been working on this project since 2020, when he started the first project preparation work. In 2022, a building permit for the construction of an apartment building and a demolition permit for the demolition of the old structures on the site were obtained. In Q4 2023, construction works started. The development works are expected to be completed by the end of Q4 2024 and the sales of the apartments by the end of Q3 2025. The project is expected to generate revenues of approximately EUR 1 600 000.

Project progress:
Up to this (first) stage, the project owner has purchased the site with his own funds, obtained all the necessary permits and fees, demolished the old structures, levelled the site and laid the foundations. The project owner will use the funds raised in this phase for the construction of the walls and further co-construction works.

The maximum planned amount of financing for the Project is EUR 810 950. The project will be financed on the basis of the current valuation of the mortgaged property until the maximum LTV is reached. Once the maximum LTV has been reached, a new valuation of the property will be carried out and further rounds of financing for the Project will only be advertised and collected if the maximum LTV is not exceeded. The Loan to Value (LTV) including VAT at this stage is 17%.

Risk category (probability of default) of this project: 8/12.

Interest based on the size of the investment:
– From EUR 100 to EUR 499 – 9.2%
– From EUR 500 to EUR 999 – 9.7%
– From EUR 1 000 to EUR 1 999 – 9.95%
– From EUR 2 000 to EUR 4 999 – 10.2%
– From 5 000 – 10.7%
Important: Individual investments are not aggregated and cannot be pooled.

We plan to raise the amount within 7 days, with the possibility of an extension to 21 days if the funds are not raised.