We present a new staged financing project - "Namai Misko panoramoje". The funds raised will be used for the development of a real estate project. The amount to be raised at this stage is EUR 89 900.

About the project:
The project owner is building 3 two-apartment houses in Vilnius, Grendaves street. The apartments will be 143 square meters, two floors with a garage for one car. On the first floor there will be a common kitchen and living area, a bathroom, a cloakroom, on the second floor there will be three bedrooms and a bathroom. Apartments for sale with partial finishing and fully arranged environment. The sale price of one apartment is EUR 170 000, the planned sales revenue of the whole project is EUR 1 020 000.

Progress of the project:
Grendaves st. on land plots 68 and 34K, the walls of the two-storey first floor were laid, the ceilings were laid and the walls of the second floor were laid. Construction materials for masonry internal partitions were also brought to the project. Windows and doors will be installed in a few weeks, and their production is currently underway. To complete the two-room apartments, it is necessary to install internal partitions, cover the roof, introduce communications entrances to the premises, perform interior and exterior finishing works and arrange the environment. The work is scheduled to be completed in the next three months.

To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors three plots of land with a total area of 31.3 ares are pledged at Grendaves street, Vilnius. In addition, a conditional mortgage is pledged on Grandaves st. 68 and Grendaves st. 34K two-apartment houses under construction that are not registered. Once the homes are registered, they will be mortgaged on a primary mortgage. According to an independent real estate appraisal, the value of real estate pledged to investors is EUR 128 500.

Maximum planned amount of funding for the project: EUR 300 000. The project is funded based on the current mortgage valuation until it reaches the maximum LTV set. When maximum LTV is reached, a new valuation of the property will be required and further project funding stages will be announced and collected only if the maximum LTV set is not exceeded.

Interest by investment amount:
- From 100 EUR to 499 EUR – 7,5%
- From 500 EUR to 999 EUR – 8%
- From 1 000 EUR to 4 999 EUR – 8,5%
- From 5 000 EUR – 9%
Important: investments made separately are not aggregated.

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