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Kunigiskes V72 XI

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100 %
  • Status funded
  • Goal 100,000 EUR (€)
  • Raised 100,000 EUR (€)
  • Investors 238
  • Interest rate 10%
  • Loan To Value(LTV) 70%
  • Credit Duration 9 month

We present the eleventh stage of the staged financing project “Kunigiskes V72”. The raised funds will be used for real estate development. The amount to be raised at this stage is EUR 100 000.

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 raised the walls of the apartment building, covered the roof, installed windows, and insulated the building’s exterior. At the moment, the first-floor apartments are fully finished, the staircases are tiled, the walls are painted, the floor is laid, and electrical mechanisms and rosettes are installed. On the outside of the building, the plastering of the facade has already been completed, paving stones have been laid in the yard, and the rainwater system has been laid. The cadastral survey files have already been submitted to the registry center for the registration of individual property units (apartments). It is planned to register notarial sales transactions in the near future.

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.

The investment term of this stage is 9 months, the return date of the investment provided for in this part is no later than 04/05/2024.

The 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 – 50%.

Interest by investment amount:
– From 100 EUR to 499 EUR – 10%
– From 500 EUR to 1 999 EUR – 10.5%
– From 2 000 EUR to 5 999 EUR – 11%
– From 6 000 EUR – 11,5%
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.

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