We present a new staged financing project “Stetiskiu namas”. The raised funds will be used for the refinancing of existing loan and for the working capital of the company (for the development of the real estate project in Panevezys). The amount to be raised in the first stage is EUR 73 600.
The aim of the project:
The owner of the project is developing a construction project for four residential houses, at Ozeliu str., Panevezys district. All the houses under development will have an area of 80 square meters, each with an estimated selling price of EUR 150 000. The sales revenue of the entire project will reach EUR 750 000. At the moment, the project has already received a building permit and foundation casting works have started.
About the project owner:
The project owner has experience in the field of real estate project development. Since 2002 company have developed 14 different projects (a total of 27 residential houses) with an area of 3,300 square meters.
To secure the interests of investors, real estate is pledged with a primary mortgage:
To protect the interests of investors, a newly built, fully furnished, 155-square-meter residential house with a 9-acre plot of land belonging to it are pledged, at V. Alanto st. 31, in Panevezys. According to an independent real estate appraisal, the value of real estate pledged to investors is EUR 249 000.
Maximum planned amount of funding for the project: EUR 120 000. 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 349 – 9,5%
– From EUR 350 to EUR 2 999 – 10%
– From EUR 3 000 to EUR 4 999 – 10,5%
– From EUR 5 000 – 11%
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.