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Aido tako namai VIII

Profitus
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100 %
  • Status funded
  • Goal 100,000 EUR (€)
  • Raised 100,000 EUR (€)
  • Investors 211
  • Interest rate 9%
  • Loan To Value(LTV) 70%
  • Credit Duration 9 month

We present the eighth stage of the phased financing project “Aido tako namai”. The collected funds will be used for the further development of the project. The amount collected at this stage is 100,000 euros.

Home of “Echo Pat”:
A block of A+ energy-efficiency houses designed by the well-known architect Lauryns Zakevicius. The layout of the interior spaces of the house is ideally adapted for a comfortable family life: two bedrooms, two bathrooms, and a storage room inside the house and, if necessary, in the inner yard. Special attention is paid to the landscape in order to ensure the maximum privacy of the residents: hilly “dunes” are formed, higher or denser vegetation, paths, and exceptional lighting. The territory is closed, entry is through an automatic gate, internal streets are paved, and the block is surrounded by a fence.

The aim of the project is:
The owner of the project is building 7 two-apartment houses in Palanga, on Aido Street. The total construction area is 966 square meters. The apartments in two-room houses will be one-story with a mansard, with an average area of 69 square meters. The apartments will be sold partially furnished and in good condition. The selling price of one apartment is about 240,000 euros. The estimated sales revenue of the entire project is about 3,380,000 euros.

Progress of the project:
Since the beginning of financing, the owner of the project has built two two-apartment houses on Aido Takas 40 and registered them in the registry center, the completion of the houses is 85%. The interior of the house is ready for full decoration installation. Currently, the production of kitchen furniture and other cabinet furniture is underway, in the next two months, the apartments will be furnished until they are 100% complete. Maintenance works are also underway: the level of the plot has been raised to the required height, the soil has been poured and compacted, and the yard has been leveled and prepared for planting.

To ensure the interests of investors, real estate is pledged with a primary mortgage:
As a means of security to protect the interests of investors, two two-apartment houses under construction in Aido Takas have been pledged. 40 plots, and 2 plots of land at Aido Takas 42 and 44, Palanga. The total area of the duplexes is 266.44 square meters, and the heated plots are 40.94 acres. Houses under construction that are not yet registered are mortgaged with an additional conditional mortgage. Once the home is registered, it will be secured by a primary mortgage. According to an independent real estate appraiser, the value of the real estate mortgaged to investors is EUR 1,183,000.

The maximum financed amount is 1,200,000 euros (519,200 euros have already been mobilized, of which 184,000 euros have been returned). 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 is reached, a new valuation of the property will have to be carried out, and the further stages of financing the project will be announced and collected only if the set maximum LTV is not exceeded. The loan-to-mortgage value ratio (LTV) at this stage is 37%.

Interest according to the size of the investment:
– From EUR 100 to EUR 999 – 9%
– From EUR 500 to EUR 999 – 9.5%
– From EUR 1,000 to EUR 2,499 – 10%
– From EUR 2,500 to EUR 4,999 – 10.5%
– From EUR 5,000 – 11%
Important: Individual investments are not aggregated and cannot be combined.

We plan to collect the collected amount within 7 days, with the possibility of extending it until the 21st. without fundraising.

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