We present a new staged financing project “Radastu namai”. Part (EUR 100 000) of the funds mobilized in the first phase will be allocated to working capital, the other part (EUR 90 000) to the acquisition of a plot of land. The total price of the purchased land plot is 290 000 euros. The project “Radastu namai” will be developed on this land plot. The amount to be collected in the first phase is EUR 190 000.
The project owner is buying a 339,19 are plot, which will be divided into plots and a residential quarter will be built. The quarter will consist of one-bedroom and two-apartment houses, it is estimated that the total block of houses will consist of 56 apartments with an area of about 120 square meters. Infrastructure will be developed in the newly built quarter – asphalt will be laid, street lighting poles and green areas will be installed. The project will be developed in stages, during the first stage it is planned to start the construction of 6-10 two-bedroom houses. The estimated selling price with partial finishing per square meter starts at 1,250 euros. The project developer has experience in developing real estate projects of a similar nature – he has developed more than 2 000 sq. m. projects.
Currently, the underground relocation of power lines is underway, the soil is being transported and the plot is being compared. The connection project to the city is also being coordinated. The municipality approved the separation of plots.
In order to protect the interests of investors, two land plots and an administrative building are pledged in Kaunas district, Giraite village. The 339,19-acre land plot is located at Radastu st. 11, and Kastonu st. 56 The area of the land plot is 17,23 acres. The registered completion of the 1005,29 square meters administrative building is 74%. According to an independent real estate appraiser, the value of the mortgaged property is EUR 886 000.
The maximum amount to be financed is 3 500 000. 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 22%.
Interest by investment amount:
– From EUR 100 to EUR 499 – 7,5%
– EUR 500 to EUR 2 499 – 8%
– From EUR 2 500 to EUR 4 999 – 8.5%
– EUR 5 000 to EUR 9 999 – 9%
– From EUR 10 000 to 9,5%
Important: investments made separately are not aggregated.
We plan to collect the accumulated amount within 7 days with the possibility to extend it to 21 days without raising funds.