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Darzelis Kauno raj. V

Profitus
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100 %
  • Status funded
  • Goal 120,000 EUR (€)
  • Raised 120,000 EUR (€)
  • Investors 113
  • Interest rate 8.5%
  • Loan To Value(LTV) 70%
  • Credit Duration 12 month

We present the 5th stage of the stage financing project “Darzelis Kauno raj.”. Funds for this phase will be used to continue construction work. The amount to be collected is EUR 120 000.

The project is developing rapidly – after the first four stages of financing, underfloor heating has been installed throughout the building, concrete floors on both the first and second floors have been laid, tiles have been laid, plaster partitions have been installed and interior finishing work has begun. Electrical cables have been laid throughout the building, duct installation works are being completed, and a fire protection system is being operated. About half of the finishing works of the facade of the building have been completed, as well as the well-being has been managed – sidewalks have already been laid on one side of the yard, lighting is being installed.

The project owner is building a 1947.27 sqm of kindergarten in the Kaunas district. A 5-year lease agreement has been signed at the day 2021-07-09 with the tenant of the building, with the possibility of extending it for another 5 years. The registered completion of the building is 40%, but the actual completion is currently higher. On April 20, 2021, cadastral measurements were performed in the project. The construction is expected to be completed in 2021. October. Once the construction works are completed and the kindergarten is rented, the project owner intends to refinance this loan with another financial institution.

In order to protect the interests of investors, an 87.93 acres plot of land is pledged and a building-kindergarten is being built there, in Kaunas district municipality, Garliava district, Jonuciu village, Slenio str. 25. According to an independent real estate appraiser, the value of the real estate pledged to investors is EUR 1 370 000. The primary mortgage is pledged as real estate under development, so the value of the pledged property is constantly increasing.

The maximum planned amount of funding for the project: EUR 1 500 000. The project is financed according to the current valuation of the mortgaged property until it reaches the set maximum LTV – 70%. Once the maximum LTV is reached, a new valuation of the property will have to be performed and further stages of the Project financing will be announced and collected only if the set maximum LTV is not exceeded. The loan-to-value ratio (LTV) at this stage is 52%.

Interest by investment amount:
-From EUR 100 to EUR 999 – 8,5%
-From EUR 1 000 to EUR 4 999 – 9%
-From EUR 5 000 to EUR 24 999 – 9,5%
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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