We present a new phased financing project “Miestelenu namai”. The majority of the funds raised of this stage will be allocated to the refinancing of the existing loan in the project “Miestelenu dvibuciai”, and the rest – to the real estate development. The amount to be raised is EUR 102 900.
About the project:
The owner of the project is developing a project of 10 residential houses near Aleksoto micro-district, Kaunas district. The area of each house is 79.99 square meters. At the moment, 8 houses have already been built and registered in the Registry Center in the project, of which notarized sales contracts have already been signed for 6. The developer will build the remaining 4 houses from the raised funds. The planned income from the sale of the remaining houses is EUR 460 000.
The aim of the project:
The project owner will allocate the raised amount for the refinancing of the existing loan and the project development works. Currently, two houses need interior finishing work, the other two houses need to be built from the foundations. This loan will be repaid from the income from the sale of real estate.
To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of the investors, 1355/1984 part of a land plot with a total area of 39.68 ares with two houses with a total area of 159.98 square meters are pledged at Miestelenu st., Seniavos District, Kaunas District. A fully furnished apartment with a total area of 53.06 square meters is also pledged to the investors at Sestoku str. 45B-10, Kaunas. According to an independent real estate appraiser, the value of the mortgaged real estate is EUR 273 000.
The maximum planned amount of funding for the project is EUR 325 000. The project is financed according to the current valuation of the mortgaged property until it reaches the set maximum LTV. Once the maximum LTV is reached, a new valuation of the property will be carried out, and the further stages of financing the Project will be announced and collected only if the set maximum LTV is not exceeded.
Interest by investment amount:
– From EUR 100 to EUR 999 – 9.5%
– From EUR 1 000 to EUR 4 999 – 10%
– From EUR 5 000 to EUR 9 999 – 10.5%
– From EUR 10 000 – 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.