We present the sixth stage of the stage financing project "Lapino namai", the funds of which will be allocated for the development of the real estate project. The amount to be raised is EUR 75 000.

Project owner:
The project owner is developing a newly built residential quarter in Vilnius, Dusmenu street. The new quarter is being built with all the necessary communications and an asphalt road. The owner of the project is well acquainted with the surroundings of Lentvaris and has developed a similar type of residential project there and has accumulated a lot of valuable experience in developing residential projects. The project owner has the status of a reliable entrepreneur - the project is rapidly developing and loans are repaid on time. 

About the project:
"Lapino namai" is a new construction project in Vilnius, characterized by the fact that all houses have the same architecture, but not the same. The project is being developed in the "Vilniaus Kalvos" quarter, and A + energy class private houses are being built there. More information: www.lapinonamai.lt. 

Progress of the project:
After the fifth stage of project financing, the facade finishing works are being continued. Windows are installed in some houses.

To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors 9 land plots with a total area of 85.46 ares with nine registered residential houses of 125-148 square meters are pledged at Dusmenu st., Vilnius. According to an independent real estate appraiser, Ober-Haus, the value of the mortgaged property is EUR 849 000.

Project features:
• A unified architecture will prevail throughout the street;
• Robust and environmentally friendly A + block-concrete walls;
• High quality natural and durable facade materials;
• Spacious 8-10 acre plots for each house;
• Quiet location - right next to a 37-acre green area with a pond and part of the plots bordering the state land where there is a forest.

Houses under construction and their sale prices:
• 102 sq. m house price with the plot, communications and partial finishing - from EUR 154 300 plus the infrastructure of the quarter.
• 120 sq. m house price with the plot, communications and partial finishing - from EUR 172 990 plus the infrastructure of the quarter.
• 145 sq. m house price with the plot, communications and partial finishing - from EUR 201 380 plus the infrastructure of the quarter.
• 170 sq. m house price with the plot, communications and partial finishing - from EUR 230 810 plus the infrastructure of the quarter.

The maximum planned amount of project financing: EUR 1 050 000. The project is financed according to the current valuation of the mortgaged property until it reaches the set maximum LTV. Once the maximum LTV is reached, a new valuation of the property will have to be performed and further stages of the Project financing will be announced and collected only if the set maximum LTV of 65% is not exceeded. LTV at this stage - 60%.

We plan to raise the amount within 7 days, with the option of extending it to 21 days if we do not raise funds.