Duplex Raisiu st., Vilnius II

• The pooled funds will be used for property development and to refinance an existing commitment with another credit institution for better loan terms;
• The property to be developed is liquid, 86% complete, with social and engineering infrastructure in the surrounding area;
• Apartment 1 in a semi-detached house has a land plot of 36.58 acres adjacent to the Salote Lake, the estimated sales income of this apartment is EUR 720 000;
• The developer has experience in real estate.

About the project owner:
The owner of the company has been operating in the construction sector for the second year and has already developed various real estate development projects with a total area of approximately 1 200 square metres, including 4 semi-detached dwellings in Pilaite, Vilnius.

Project objective:
The project owner is developing a semi-detached house in the village of Raisiu. The registered completion rate of the semi-detached house, according to the Centre of Registers, is currently 86%. The developer intends to equip the semi-detached house with partial finishing and landscaping. Once these works are completed, the house will be sold. The estimated sale proceeds are EUR 1 170 000. The loan will be covered by the sale proceeds.

The maximum planned amount of financing for the Project: EUR 600 000 (EUR 431 500 already raised). 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 has been reached, a new valuation of the property will be carried out and further rounds of financing for the Project will only be advertised and collected if the maximum LTV is not exceeded. The loan-to-value (LTV) ratio with VAT at this stage is 52%.

Interest by investment amount:
– From EUR 100 to EUR 499 – 10.5%
– From EUR 500 to EUR 999 – 11%
– From EUR 1 000 to EUR 2 999 – 11.25%
– From EUR 3 000 to EUR 4 999 – 11.5%
– From EUR 5 000 to EUR 9 999 – 12%
– From EUR 10 000 – 12.5%
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.