Kunigiskes V72 VIIProfitus
We present the seventh stage of the staged financing project “Kunigiskes V72”. Funds from this phase will be used for the refinancing of the first phase of the project. The amount to be raised at this stage is EUR 106 000.
The project owner has experience in real estate development. Has implemented 6 different real estate development projects with a total area of 2 103 square meters.
The aim of the project:
The project owner is developing a 910 square meters, three-story,apartment building on a 15.22 acres land plot. The first staircase will be 15 leisure apartments and the second – 12 residential apartments. A total of 27 property units. Apartments will be 25-38 square meters, 2-3 rooms. It is also planned to install 20 parking spaces. The estimated revenue for the entire project is around EUR 2 200 000. Currently, 11 apartments are reserved, the value of the reservations is about EUR 904 000.
Progress of the project:
The owner of the project made the final payment for the plot of land from the funds raised in the first stage (EUR 100 000), and with his own money he raised the walls of the apartment building, covered the roof, installed windows, and insulated the building’s exterior. At the moment, the internal walls of the building have already been plastered, partitions formed, electricity, plumbing, all plumbing ceramics have been purchased, the floor has been concreted, and the air conditioning system has been installed. 9 apartments on the 1st floor are ready with partial decoration, doors are installed, tiles are already installed in the bathroom. The exterior of the building is already covered with clinker, balconies have been formed. The cadastral survey files have already been submitted to the Registry center for the registration of individual property units (apartments). Planned from May register notarial sales transactions.
To secure the interests of investors, real estate is pledged with a primary mortgage:
To protect the interests of investors, an apartment building with an area of 895.69 square meters and a plot of land with an area of 15.22 acres are pledged at Vaivorykstes st. 72G, Palanga. The plot of land has a building permit. According to an independent real estate appraiser, the value of real estate pledged to investors is EUR 2 020 000.
Maximum planned amount of funding for the project: EUR 1 010 000. 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. LTV at this stage – 35%.
Interest by investment amount:
– From 100 EUR to 499 EUR – 10%
– From 500 EUR to 999 EUR – 10.5%
– From 1 000 EUR to 4 999 EUR – 11%
– From 5 000 EUR to 9 999 EUR –11.5%
– From 10 000 EUR – 12%
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.