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Mano Sventove XVI

Profitus
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100 %
  • Status funded
  • Goal 43,500 EUR (€)
  • Raised 43,500 EUR (€)
  • Investors 94
  • Interest rate 9%
  • Loan To Value(LTV) 70%
  • Credit Duration 9 month

We present a new stage of the staged financing project – “Mano Sventove XV”. The raised funds will be used for the refinancing of the previous phase (XII) of the project. The amount raised at this stage is EUR 108 000. This loan will be repaid by the proceeds from the sale of the property.

The aim of the project:
The project owner is developing a 2 771.66 square meters, 97 flats, 3 storey building on the 1.3815 hectares land plot at Mokyklos st. 79, Palanga. The apartment is for sale with fully finished: painted walls, electrical wiring, sockets and connectors, low voltage cables for security alarm, internet and cable TV, plumbing in the kitchen area, tiled bathroom, shower, washbasin, toilet taps, hanging boiler for hot water. The apartments will also be equipped with air-conditioned heat pumps. The whole territory of the project “Mano Sventove” will be completely arranged, beautifully planted, children’s playgrounds, benches, tracks, swimming pool. 

Progress of the project:
Currently, according to the preliminary purchase and sale agreements, 84 apartments have already been sold, and the remaining 13 are vacant. Apartments are sold for EUR 2 500 per 1 square meter. The planned revenue from the sale of all apartments in buildings B and C is EUR 5 800 000.

The aim of the project:
The raised funds will be used for the refinancing of the previous phase (XII) of the project.

To secure the interests of investors, real estate is pledged with a primary mortgage:
To protect the interests of investors, 23 apartments with a total area of 632,71 square meters, car parking lots and a recreation building that has begun to be built, are pledged at the address Mokyklos str. 79, Palanga. According to an independent real estate appraiser, the value of real estate pledged to investors is EUR 1 618 000.

Maximum planned amount of funding for the project: EUR 6 000 000. 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.

Interest by investment amount:
– From 100 EUR to 499 EUR – 9%
– From 500 EUR to 999 EUR – 9.5%
– From 1 000 EUR to 9 999 EUR –10%
– From 10 000 EUR to 19 999 EUR –10.5%
– From 20 000 EUR – 11%
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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