Staged project for real estate development “Riešes dvibutis”. This is the first phase of this project, the amount collected is 127,000 euros.
10.6 acres of land, located in a one-room residential house with a total area of 349.84 sq. m., will be transformed into a two-bedroom house. The estimated sale price of one part of the house, with full partial finishing, is 185,000 EUR. Currently, the house is not finished, with a roof, windows and doors. The funds collected at this stage of financing will be used to continue construction works, to form separate apartments.
As a guarantee to investors, real estate is pledged, which will be developed – 349.84 sq. m. residential house with a 10.6 acre plot of land, address Vanagines Sodu 5th str. 1, Vilnius district. Investors at all stages will be pledged the property with a primary mortgage
Maximum planned Project financing amount: 250,000 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 accumulated amount within 7 days with the possibility to extend it to 21 days. without raising funds.