Loan for real estate development – stage I of ,”KATILISKIO 31”.
The “KATILISKIO 31” project consists of four unique A+ class flats in semi-detached semi-detached houses located in the fast-growing area of Aleksotas. It is the place for city people who want to find harmony between the hustle and bustle of the city. Life is created in a new, convenient location from where you can reach your desired destination in the city center or neighborhood, both by your own and by public transport. Within walking distance or by bike to the nearest supermarkets, shops or children’s playgrounds.
Assets pledged to investors during this stage will also be used to secure the obligations of the project owner in the next (additional) stages of financing, provided that the project owner raises the value of the pledged property to a maximum LTV of 70%. Investors of all stages will be pledged with a primary mortgage.
When investing into this project, during the second and subsequent funding stages, the invested funds will be repaid to investors only after settlement with the investors who have invested in the previous funding stages. This condition does not affect the seniority of the investor’s right to the collateral, the overall ratio of the collateral to the amount of the investment. This provision will also not apply in the event of termination of the loan agreement.
The project is funded based on the current mortgage valuation until it reaches the maximum LTV set. When maximum LTV is reached, a new valuation of the property will be required and further project funding stages will be announced and collected only if the maximum LTV set is not exceeded.
We plan to raise the amount within 7 days, with the option of extending it to 21 days if we do not raise funds.