Staged project “Daugiabutis Panauja”. The project is intended to refinance a previous loan.
Panauja is a newly built apartment building, strategically located, just a few minutes from Vilnius Old Town. The project is being developed taking into account the needs of potential residents, all apartments are equipped with autonomous underfloor heating, excellent sound insulation is provided, and a recuperation system is installed. The apartment building will be equipped with 24-hour video surveillance cameras.
Project funds will be used for refinancing due to the protracted house registration process. Due to the delay in the house registration process, the developer did not manage to sign notarial contracts with apartment buyers in time. Currently, the apartment house is already registered.
Previously borrowed funds were used to carry out construction work on this apartment building. During that period, staircases were installed and flats were formed (some flats were fully finished). In the near future, the project envisages the installation of a parking lot, arrangement of the environment and a boiler room.
In total, the project has 24 apartments and 24 parking spaces. Of these, 20 apartments and 16 parking spaces are reserved, and preliminary sales agreements have been signed, the value of which amounts to 1.85 million. euros.
Investors are pledged a 0.1010 ha land plot with a 1233,36 sq.m multi-apartment building at Panevezio str. 23, Vilnius. According to an appraisal carried out by an independent real estate appraiser, the value of the mortgaged property is EUR 1,815,000. The loan-to-value ratio (LTV) at this stage is 57%.
Interest by investment amount:
– From EUR 100 to EUR 999 – 8,5%
– From EUR 1 000 to EUR 19 999 – 9,5%
– EUR 20 000 to EUR 99 999 – 10,5%
– EUR 100 000 to EUR 249 999 – 11,5%
– From EUR 250 000 to 13%
Important! Individual investments are not aggregated.
Investors at all stages will be pledged the property with a primary mortgage.
Maximum planned amount of project financing: 1,200,000 Eur. The project is financed according to the current valuation of the mortgaged property until it reaches the set maximum LTV. 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 – 70%.
We plan to collect the accumulated amount within 7 days with the possibility to extend it to 21 days. without raising funds.