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Mano Sventove

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100 %
  • Status funded
  • Goal 250,000 EUR (€)
  • Raised 250,000 EUR (€)
  • Investors 257
  • Interest rate 7.5%
  • Loan To Value(LTV) 70%
  • Credit Duration 12 month

We present a new staged financing project – “Mano Sventove. The funds raised will be used for the development of a real estate project. The amount to be raised at this stage is EUR 250 000. This loan will be covered by the proceeds from the sale of the property.

About the project owner:
The project owner has experience in real estate development. Implemented 7 different real estate development projects (“Saules namai”, “Girios Aleja”, “Vaidoto vilos”, “Palangos egle”, “Plaza verslo centras”, “S3 Verslo centras”, “Azuolyno sveikatingumo centras”), with a total area of 41 400 square meters.

The aim of the project:
The project owner is developing a 2 771.66 square meter, 97 apartments, 3 storey building on the 1,13815 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. The construction of the first B and C buildings under development is planned to be completed by 2022. June Currently, 58 apartments are already sold, the sales revenue is EUR 3 500 000, the remaining 39 are vacant. The apartments are for sale for EUR 2 500 per 1 square meter. The planned income from the sale of all apartments is EUR 5 800 000. After the completion of the construction of these buildings, an extension is planned – building A, where an additional 50 apartments will be formed. The construction of two more buildings, D and E, is also planned in the near future. At present, almost all the apartments under development have windows installed and interior finishing works are underway. Asset completion – 65%. Work on the facade is scheduled to begin in the spring.

To secure the interests of investors, real estate is pledged with a primary mortgage:
To protect the interests of investors, a land plot of 1.3812 hectares with two registered recreation buildings is pledged. The area of the built building is 1 253 square meters, and the foundation of the other building is 723 square meters, at Mokyklos str. 79, Palanga. The part of the land plot (2000/14107) with the area of 0.2 hectares is also pledged at Mokyklos str. 81, Palanga. According to an independent real estate appraiser, the value of real estate pledged to investors is EUR 3 350 000.

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 – 7,5%
– From 500 EUR to 999 EUR – 8%
– From 1 000 EUR to 9 999 EUR – 8,5%
– From 5 000 EUR – 9%
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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