• Competitive advantage: At present, there are almost no new or modernly reconstructed apartment projects in Telšiai, therefore “Fenikso namai” occupies a rare niche in the local market and has a clear competitive advantage.
  
• Strong market interest: The project is receiving active attention, and there are already potential buyers.
  
• Experienced developer: The project owner has successful experience in residential development in Telšiai and strong knowledge of the local market and buyer needs.

Interest rates by investment amount:
– From 100 EUR to 349 EUR – 9.00%
– From 350 EUR to 749 EUR – 9.25%
– From 750 EUR to 2 999 EUR – 9.50%
– From 3 000 EUR to 9 999 EUR – 9.75%
– From 10 000 EUR – 10.00%
Important: separate investments are not added together and cannot be combined.

Project description:
“Fenikso namai” is a newly developed residential quarter consisting of two modern three-storey apartment buildings in Telšiai. The project is implemented by reconstructing former youth school and kindergarten buildings and converting them into residential use, changing their purpose to multi-apartment residential buildings. The phoenix — a symbol of rebirth — precisely reflects the project idea: an abandoned area revived into contemporary housing. The quarter is designed to provide modern, safe and comfortable living conditions near the city’s infrastructure.

The project owner acquired the property at the beginning of 2021 in a public auction together with the land plot, the former kindergarten/school buildings and other engineering structures. Later the plot was subdivided into six parts: one part was sold, while the remaining larger 57,16-are area was selected for the main development of the quarter.

In July 2025, a construction permit was obtained for the reconstruction and for converting the buildings into multi-apartment use. The buildings, formerly connected by a gallery, have already been separated into two blocks. Both blocks are designed as three-storey buildings by adding a new third floor; their gross areas are 1 492,82 m² and 1 494,19 m². Each building will include 20 apartments (40 in total). The layouts of the first and second floors will be identical: 8 apartments per floor, and 4 apartments on the third floor. Apartment sizes will range from 41 to 129 m² (2–4 rooms), suitable for a wide range of buyers. Basements will include storage rooms, bicycle storage and technical premises; the site will feature 47 outdoor parking spaces.

Construction has been actively ongoing since August 2025: in the first building, masonry and partitioning works on the first and second floors have already been completed, the connecting gallery has been demolished, and drainage systems have been installed. The old roof has also been dismantled – slabs removed and all sandwich roof layers fully stripped. The roof slabs have now been reinforced with IPE double beams, ensuring structural integrity for further works. All balcony metal structures have been installed: the balcony framework has been formed and the balcony slab structures have been concreted. Stair formwork production has also commenced. In parallel, preparatory works for the next structural stages are underway – timber has been ordered for the third-floor framework, as well as STEICO wooden beams for roof formation.

Signing of preliminary sales agreements is planned for Q2 2026. Construction completion and notarial transactions are expected in autumn 2026 — apartments will be sold with partial finishing, and the buildings will be registered at 100% completion.

Loan information:
The loan will be repaid from property sales revenue, which is expected to reach 1 549 577 EUR. Interest to investors will be paid from advance payments.

The maximum planned project financing amount is 700 000 EUR (100 000 EUR already raised). The amount may be raised in stages. The project is financed based on the current collateral value until the maximum LTV ratio is reached. Once the maximum LTV is reached, a new valuation will be required and further stages will be raised only if the LTV is not exceeded.

Funds are planned to be raised within 7 days, with the option to extend up to 30 days if the target is not met.