We present the new stage of staged financing project – „Twinhouse II”. The raised funds will be used for real estate development. The amount to be raised at this stage is EUR 200 000.
About the project owner:
The project owner has experience in property development. He has completed various construction projects with a total area of 2 100 square metres. The developer has the status of a reliable developer, PROFITUS financed and implemented the project „Palepes rekonstrukcija Kauno centre”.
The aim of the project:
The project owner will use the pooled amount for the development of two apartment buildings. The development consists of seven-storey A++ class apartment buildings with surface parking spaces and storage facilities. The total floor area of each apartment block will be 1 186 square metres. Each apartment block will have 19 apartments (8 of which will be two-room, 5 three-room and 6 four-room), with an area of 37 – 74 square metres. On the second and fifth floors there will be 4 apartments with balconies, on the sixth floor there will be 2 apartments with terraces, each apartment will have an area of 70 – 85 square metres. The top floor, the 7th floor, will have an apartment of 110 square metres, also with a terrace. In total, the project provides 38 apartments and 41 parking spaces. The apartments are planned to be sold with partial finishing. The sale proceeds for all apartments, parking spaces and storage facilities will amount to EUR 7 000 000.
The owner of the project has already invested EUR 300 000 in the construction of the apartments. One of the two apartment blocks has been launched, with a completion rate of 16% according to the Centre of Registers, and a real completion rate of 22% based on the work already done. The second and third floors have now been completed with brick and concrete partitions, slabs and balconies. Lift shafts and staircases with stairs have also been made. Work has started on the fourth floor and the walls of the fifth floor are being built.
The maximum planned amount of funding for the project is EUR 3 300 000 (EUR 250 000 already raised). 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 be carried out, and the further stages of financing the Project will be announced and collected only if the set maximum LTV is not exceeded. The loan-to-value (LTV) witht VAT at this stage is 54%.
Interest by investment amount:
– From EUR 100 to EUR 999 – 10.5%
– From EUR 1 000 to EUR 1 999 – 11%
– From EUR 2 000 – 11.5%
Important: Individual investments are not aggregated and cannot be combined.
We plan to raise the amount within 7 days, with the possibility of extending it to 21 days if the funds are not raised.