We present new phase of phased financing project – „P00000924-10". The raised funds will be used for the development of real estate. The amount to be raised at this stage is EUR 103 800.

About the project owner:
The project owner has experience in real estate. He has developed real estate projects with a total area of approximately 5 100 square metres. The developer has many years of experience in the construction business. Developer has completed 4 similar apartment building projects, developed and successfully realised commercial premises in Savanoriu prospectus, Kaunas.

About the project:
T12 is a project of prestigious, exclusive and luxurious apartments developed in the central part of Kaunas. The apartment building will be developed in a very beautiful location of the city - on the slope of Totoriu Street. Thanks to the location of the plot and the position of the apartment building, the future residents will be able to enjoy both the beautiful panorama of Kaunas city and the green slope on the eastern side. A short five-minute walk will take you to Laisves Avenue and a five-minute walk to Karaliaus Mindaugo Avenue. In the adjacent street, on sunny days, residents will be greeted by the Peace Park. The project will have eight apartments over three floors, with two exclusive luxury penthouses at the top. The basement level will include commercial space, a 21-space parking garage, and two of the twelve apartments. The remaining eight apartments will be distributed on the second and third floors of the building. Residents of the penthouse apartment, whose windows will open to the panoramic view of the central part of Kaunas, will be able to watch the sunsets from a spacious 54 square metre terrace.

Project objective:
The project owner has been working on this project since 2016. 6 years ago, the shareholder of the company bought a wooden three-apartment house built in 1920 and a plot of land at Totoriu St., Kaunas. During this period, he prepared the project, coordinated it with the public and the city municipality, and in December 2022 received a building permit for the construction of the apartment building. After obtaining the building permit, the project owner updated the terms and prices for the supply and production of materials and components and started the construction work. The development works of the project are expected to be completed by the end of the second quarter of 2024. Four preliminary contracts for the sale of apartments have now been concluded. The project is expected to generate revenues of approximately EUR 6 500 000.

Project progress:
The third floor walls have been raised with the funds raised in the last phases, and work has started on the attic floor. The project owner will use the funds raised in this phase to continue further construction works.

Maximum planned amount of funding for the project: EUR 3 000 000 (EUR 510 000 already raised). 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. The loan-to-value ratio (LTV) without VAT at this stage – 60%.

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

Interest by investment amount:
– From EUR 100 to EUR 499 – 9%
– From EUR 500 to EUR 999 – 9.5%
– From EUR 1 000 to EUR 1 999 – 9.75%
– From EUR 2 000 – 10%
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.