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Naujakuriu daugiabutis Kaune X

Profitus
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100 %
  • Status funded
  • Goal 111,400 EUR (€)
  • Raised 111,400 EUR (€)
  • Investors 115
  • Interest rate 10.5%
  • Loan To Value(LTV) 70%
  • Credit Duration 5 month

We present the tenth stage of the project – “Naujakuriu daugiabutis Kaune”, the funds from this stage will be used for the refinancing of stages II, III, and IV. The amount collected at this stage is 111,400 euros. This loan will be covered by the proceeds from the sale of the property.

The aim of the project:
The project owner is developing two apartment buildings with a total area of 2 152.59 square meters with a planned closed parking lot. The apartment buildings will have apartments of 50-75 square meters. One apartment building will consist of 18 apartments, the other – 15. The apartments are planned to be sold with partial finishing. Revenue from the sale of all apartments will amount to EUR 4 000 000.

Progress of the project:
The owner of the project allocated a part of the project funds for refinancing loans to the Union, paid the designer, the infrastructure fee, made advance payments for materials, and started the construction of apartment buildings. In one apartment building, the 3rd floor has been laid, the staircase has been concreted, and in another building, the 2nd floor has been laid. Water supply networks are starting to work. Currently, according to the data from the Registry Centre, the registered partial completion of both apartment buildings is 8%. Actual completion according to the currently performed works is 24% – Naujakurių St. 118 and 12% – Naujakuriu str. 116.

To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors a plot of land with an area of 33.80 acres and two apartment buildings are pledged at Naujakuriu St. 116 and 118, Kaunas. According to an independent real estate appraiser of UAB “Inreal”, the value of real estate pledged to investors is EUR 1 155 000.

The maximum planned amount of funding for the project: EUR 1 400 000. 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. LTV at this stage – 58%.

Interest by investment amount:
– From 100 EUR to 499 EUR – 10.5%
– From 500 EUR to 999 EUR – 11%
– From 1 000 EUR to 3 999 EUR – 11.5%
– From 4 000 EUR to 7 999 EUR – 12%
– From 8 000 EUR – 12.5%
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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