Namas Berzu g. IIProfitus
We present the second stage of the phased financing project “Namas Berzu g.”. The funds raised will be used for the development of a real estate project. The amount to be raised at this stage is EUR 37 000.
About the project:
The owner of the project is building a residential house in Vilnius district. The house is one-story, 134.53 square meters, with a 44.79 square meters shed for two cars. The living area of the house will be 74 square meters. The house will have three separate bedrooms, one bathroom, a shared kitchen and living area. The planned income from the sale of the house is EUR 195 000. The funds for the second phase will be used to complete construction work.
Progress of the project:
After the first stage of financing, the project was covered with exterior walls and internal partitions, a roof structure and a roof covering, windows and exterior doors, and a registered house. Registered house completion 45%. Facade insulation works are currently underway. Until the completion of the project, it is necessary to introduce communications, install engineering systems, perform facade and interior finishing works.
To ensure the interests of investors, a real estate primary mortgage is pledged:
To secure the interests of investors, 134.53 sq. m building – dweling house and 3 land plots with a total area of 39.44 ares are pledged in Vilnius district. According to an independent real estate appraiser, the value of the mortgaged property is EUR 120 600.
The maximum planned amount of funding for the project: EUR 100 000. The project is financed according to the current valuation of the mortgaged property until it reaches the set maximum LTV – 70%. 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. The loan-to-value ratio (LTV) at this stage is 54%.
Interest by investment amount:
– From EUR 100 to EUR 499 – 9%
– From EUR 500 to EUR 2 999 – 9,5%
– From EUR 3 000 – 10%
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.