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Namai Kalnėnuose IV

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100 %
  • Status funded
  • Goal 29,300 EUR (€)
  • Raised 29,300 EUR (€)
  • Investors 76
  • Interest rate 8%
  • Loan To Value(LTV) 70%
  • Credit Duration 12 month

Real estate development project “Namai Kalnenuose” – Stage IV.

“Namai Kalnenuose” – a modern residential house project, that is being developed in Vilnius. Much attention is paid not only to the interior, but also to the facade decoration: one side of the house will be covered with wooden siding, the other – metal decoration. This is an “eco-friendly” project, as it is planned to use environmentally friendly materials for construction.

The project develops two two-apartment houses. On the first plot of land with an area of 8.14 acres, a two-apartment house with a total area of 216.97 sq. m. The second house is being built on an 8.15 acre plot of land. The total area of the house is 243.06 sq. m. The registered completion of both houses is 41%. Construction works are being carried out actively: the foundations have been cast, the frame of the house has been built, the windows already installed, the walls have been heated and the roof are covered.

A total of 4 apartments are being installed and sold in the project. Reservation agreements have already been signed for all apartments. Estimated sales revenue for the entire project is more than 600 thousand EUR. The funds raised during this financing phase will be used to cover part of the previous loan and to continue construction work.

As a guarantee to investors, real estate is pledged – an 8.14-acre plot of land and a two-apartment house located at it, at Armenu str. 15, Vilnius. A plot of land with an area of 8.15 ares and a two-apartment house in it, Armenu str. 13, Vilnius. For investors at all stages, the property is pledged as a primary mortgage.

The company has experience in real estate development and has been successfully operating since 2011. This loan will be repaid from the proceeds of the sale of the property.

Maximum planned amount of project financing: 350,000 Eur. The borrower will have the right to borrow additionally in other stages, provided that it does not exceed the maximum LTV of 70%. 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 have to be performed and further stages of the Project financing will be announced and collected only if the set maximum LTV is not exceeded.

We plan to collect the amount within 7 days with the possibility to extend it to 21 days.

Project visualizations are also provided.

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