• The amount mobilised will be used to refinance an existing loan;
• The mortgaged property is located in a newly built block of multi-family dwellings, accessed by asphalted roads;
• The owner of the project has developed real estate projects of approximately 7 000 square metres.

About the project owner:
The project owner has experience in real estate. He has completed a project in Kaunas, Riesutu st. 8, 7 apartments, Plytupio st. 5, 10 apartments and 1 house. The developer has also purchased and developed another 50 apartments over the years.

About the project whose loan is being refinanced:
The project owner is developing two semi-detached houses with a total constructed area of 380 square metres on the acquired land. It will have a total of 4 apartments. Two apartments of 78 square metres each, the remaining two of 112 square metres. The owner of the project intends to furnish the semi-detached houses in a modern way with all appliances and furniture. Once these works have been completed, the houses will be for sale. Sales are currently under way and three preliminary sales contracts have been signed for a total value of EUR 329 000. The total sales revenue of the project is around EUR 400 000. This loan will be repaid from the proceeds of the sale of other properties.

* The photos show the mortgaged real estate.

The maximum planned amount of financing for the Project: EUR 155 000. The project is financed according to the current valuation of the mortgaged property until it reaches the set maximum LTV of 70%. 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) ratio with VAT at this stage is 53%.

Interest by investment amount:
– From EUR 100 to EUR 899 – 11.9%
– From EUR 900 to EUR 3 999 – 12.4%
– From EUR 4 000 to EUR 9 999 – 12.9%
– From EUR 10 000 to EUR 49 999 – 13.4%
– From EUR 50 000 – 13.9%
Important: investments made separately are not aggregated and cannot be pooled.

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