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Apartamentai vaivoryksteje

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100 %
  • Status funded
  • Goal 116,700 EUR (€)
  • Raised 116,700 EUR (€)
  • Investors 201
  • Interest rate 7.5%
  • Loan To Value(LTV) 70%
  • Credit Duration 36 month

We present a new financing project – “Apartamentai vaivoryksteje”. The amount raised will be used for real estate development. The amount to be raised is EUR 174 000. This loan will be covered by rental income from the property.

Project owner:
The project owner has experience in real estate development. Has implemented 6 different projects with a total area of 2 103 square meters.

The aim of the project:
The project owner is building 18 apartments of 40 square meters, with a total area of 720 square meters, at Vaivorykstes st. 32, Palanga. The raised funds will be used for the completion of construction works (improvement of welfare and installation of the remaining apartments). The apartments will be rented upon completion of the work. The estimated income from renting apartments only during the summer season is about 227,000 euros. If the rent is not justified, the apartments would be sold for 3,000 euros per square meter.

To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors 2 buildings-guest houses with a total area of 80.29 square meters, with the parts of the land plot belonging to them (3 a) are pledged at Vaivorykstes st. 32, Palanga. According to an independent real estate appraiser, Ober-Haus, the value of the mortgaged property is EUR 249 000.

Interest by investment amount:
– From 100 EUR to 999 EUR – 7,5%
– From 1 000 EUR to 2 999 EUR – 8%
– From 3 000 EUR – 8%
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.

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