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Sergiskiu namai II

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100 %
  • Status funded
  • Goal 50,000 EUR (€)
  • Raised 50,000 EUR (€)
  • Investors 139
  • Interest rate 10%
  • Loan To Value(LTV) 70%
  • Credit Duration 12 month
We present the second stage of the staged financing project “Sergiskiu namai”. These funds will be used for the further development of real estate. The amount raised at this stage is EUR 50 000.

The aim of the project:
The project owner is developing 4 semi-detached houses (8 property units in total) with a total area of 616 square meters at Sergiskiu st. 22 and 24, Palanaga. The area of each apartmanet in semi-detached house will be 77 square meters. The sale price of one apartment in a semi-detached house is planned to be EUR 230 000. The sales revenue of the whole project is planned to be about EUR 1 850 000.

Progress of the project:
After the first phase of financing, the owner of the project ordered the blocks and bricked the outer and inner walls of the first floors of all duplexes. The funds of the second stage will be used for the order and installation of overlays. When the ceilings are installed, the masonry work of the semi-detached houses second floors will begin.

To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors, two plots of land with a total area of 20.42 ares, with the registered foundations of semi-detached houses are pledged at Sergiskiu st. 22 and 24, Palanga. According to an independent real estate appraisal, the value of real estate pledged to investors is EUR 184 000.

Maximum planned amount of funding for the project: EUR 800 000. 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.

Interest by investment amount:
– From EUR 100 to EUR 499 – 10%
– From EUR 500 to EUR 999 – 10,5%
– From EUR 1 000 to EUR 2 499 – 11%
– From EUR 2 500 to EUR 4 999 – 11,5%
– From EUR 5 000 – 12%
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.

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