Satrininku namai IIProfitus
We present a staged financing project for real estate development “Satrininku namai”, phase II. The amount to be collected in the second phase is EUR 140 000.
Progress of the project:
After the first stage of the project, 4 two-apartment buildings (8 apartments in total) were built in the project. House Satrininku st. 30 already has second-floor walls and a covered roof. Satrininku st. 28 The walls of the first and second floors have already been built. Satrininku st. 36 first floor walls built, second-floor walls halfway built. Satrininku st. 22 ground floor walls built, ceiling covered. All assets are registered in the Center of Registers and all plots have building permits where houses are being built quickly.
The company developing the project has accumulated successful experience in real estate development. The for-profit investor community has funded 4 previous projects by this developer. All projects were successfully implemented and all investors were settled on time.
The aim of the project:
The project owner is building 4 residential two-apartment houses (8 apartments in total) with a total area of ??995 sq. m. Once the houses are partially finished, they will be sold. The estimated selling price is 1 500 euros per square meter. The planned sales revenue of the whole project is 1,5 million. euros. It is planned to complete the construction works by February of 2022.
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 a 26.22 ares plot of land and four two-bedroom houses are pledged in a quiet place of Vilnius – Kalnenai, at Satrininku st. 22, 28, 30 and 36, Vilnius. According to an independent real estate appraiser, the value of the mortgaged property is EUR 482 600.
The maximum planned amount of funding for the project: EUR 700 000. The Borrower will be entitled to borrow additionally in other stages, provided that it does not exceed the established maximum ratio of the value of the loan and the collateral – 70%. The official asset value ratio (LTV) at this stage is 56%.
Interest by investment amount:
From EUR 100 to EUR 499 – 7,5%
From EUR 500 to EUR 2,999 – 8%
From EUR 3 000 to EUR 9 999 – 8,5%
From 10,000 EUR – 9%
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.