Dvibutis Tauro 1-osios g. IIIProfitus
We present the third stage of the phased financing project “Dvibutis Tauro 1-osios g.”, the funds of which will be allocated to the refinincing of the existing loan. The amount to be raised at this stage is EUR 56 000.
About the project owner:
The project owner has experience in real estate development. The developer implemented different real estate development projects with a total area of 960 square meters.
About the project:
The project’s owner is developing a 268.1 square meter, two-story duplex house. The area of one apartment in a semi-detached house with a garage will be 127.87 square meters, the other – 140.23 square meters. Each apartment will have 4 rooms. There are city communications, the whole house is equipped with underfloor heating. The apartments will be sold fully furnished. The estimated sales revenue is about EUR 482 400.
Progress of the project:
With the funds raised from the last phase, the following works have been carried out: paving, fencing, full facade finishing, electricity, underfloor heating and plumbing, and insulated ceilings. One of the semi-detached houses is currently for sale and the second one is currently under negotiation.
To ensure the interests of investors, real estate is pledged with a primary mortgage:
As a security measure to protect investors’ interests, 140.23 square meters apartment in a two-story house and a land plot of 7.61 acres are pleged at the address Tauro 1-oji st. 45; 45-2, Klaipeda. According to an independent real estate appraiser, the value of the mortgaged real estate is EUR 168 000.
The maximum amount we finance for the project is EUR 300 000. 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 of 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 53%.
Interest according to the size of the investment:
– From EUR 100 to EUR 499 – 10%
– From EUR 500 to EUR 1 499 – 10.5%
– From EUR 1 500 – 11%
Important: individual investments are not cumulative.
We plan to collect the collected amount within 7 days with the possibility of extending it until the 21st. without fundraising.