Urbo Houses Phase I
PURPOSE OF THE INVESTMENT
Real estate development
AMOUNT REQUESTED FOR FUNDING
INVESTMENT PERIOD *
14% (60% max)
INVESTMENT RETURN FORM
At the end of the period
FREQUENCY OF INTEREST PAYMENT
Once a quarter
SOURCE OF INTEREST PAYMENT
Real estate sales income
ANNUAL INTEREST RATE
* Note. If the real estate developer repays a part of the loan earlier, he has to pay an additional 1 month. interest on the amount to be repaid (but in general, interest for that part shall be payable for a minimum of 3 months but not more than the term of the loan).
ADDRESS OF THE MORTGAGED PROPERTY
GD Kuverto g. 15, Neringa
VALUE OF PLEDGED ASSETS AS PER INDEPENDENT VALUATION
In order to ensure the interests of the investors, the right to lease the land plot and 4 premises with the building permit will be pledged, which will be replaced by apartments. The new homes being built / planned to be built on the plots will also be pledged to investors.
During this and previous funding rounds, the pledged assets will be used to secure the obligations of the project owner in the next (additional) financing rounds, provided the project owner raises the value of the pledged assets to a maximum LTV of 60%. Currently, LTV stands at only 14%.
Investments made in this project will not be reimbursed to investors in subsequent financing stages until settlement has been made with the investors who have invested in this financing stage. This condition shall not affect the seniority of the investor's right to the collateral, the overall ratio of the collateral to the amount of the investment. This condition is also not applicable in case of termination of the loan agreement.
Investors at all stages will be mortgaged with a primary mortgage.
Real Estate Development Loan - Urbo Namai Phase I. The company plans to develop a holiday apartment (41 apartments). The company will use the funds borrowed during this funding phase for the construction of the project.
Investors will be mortgaged by the developer and will have 4 premises to replace the apartments. At the moment the works are underway, the building permit has been obtained and the previous object has been demolished. Foundation completion is expected in 2020. April The construction of recreational plots will also be pledged to investors. The developer has already signed three preliminary sales contracts worth $ 650,000. euros.
Urbo Homes is a new construction project, energy-efficient Class A utility housing, designed with the climate and building users in the area in mind, which results in extremely low energy consumption. Three shells, forty-one, 44-138 sqft. m. size apartment with attic or fireplace option. The project will be implemented with partial finishing. The dwelling infrastructure is developed in response to the needs of the residents: a closed courtyard, spacious parking (21 above ground and 14 underground parking spaces), surrounded by pine forests with bicycle and walking paths. Near UNESCO World Heritage Sites. The resort constantly strives for harmony between nature and man, creating an environmentally friendly environment.
For those who invest more than 5,000 Euros + 1%, and from 20,000 Euros + 2% to the annual interest. Investors at all stages will be mortgaged with a primary mortgage.
Maximum planned amount of funding for the Project: EUR 2 250 000. The project is funded based on the current mortgage valuation until it reaches the maximum LTV set. Once the maximum LTV has been reached, a new valuation of the property will be required and further project funding rounds will be announced and collected only if the maximum LTV set is not exceeded.
We plan to collect the amount within 7 days, with the option to extend it to 21 days. without raising funds.
Project visualizations are provided. More information about the project: https://urbonamai.lt
NAME OF THE PROJECT
PROJECT CONSTRUCTION PERMIT NUMBER
ADDRESS OF THE PROJECT
GD Kuverto g. 15, Neringa
PURPOSE AND AREA OF THE SITE
NUMBER OF FLOORS OF THE OBJECT (BUILDING)
DURATION OF REPAIR / CONSTRUCTION
DESCRIPTION OF THE PROJECT SITE
Urbo Namai is strategically located in a peaceful location on a hill between the center of Nida and the Baltic Sea, away from the hustle and bustle of tourists. Close to all the resort's benefits. The scenic footpath through the pine forests of the Baltic Sea and Mount Urbo can be reached in just 10 minutes and the center of Nida and Maria in 15 minutes. The old town of the settlement is still filled with the old aura of the fishermen's village, surrounded by Parnidis and the Great Dunes.
REPAIR / CONSTRUCTION DESCRIPTION (DETAIL)
2020 The foundation works are scheduled to be completed in April. Once the foundations have been laid, the ground floor construction work will begin.