|Bridge loan "Maple House" - IV stage of financing. The loan is for real estate development. The project is being developed by one of the TOP 5 real estate developers in Lithuania - CITUS.|
The company is developing the project "Maple House", residential apartment buildings. In total, the project envisages the construction of 189 apartments. In the first stage of construction, two apartment buildings (122 apartments) are being developed. Of these, 74 were reserved and preliminary sales agreements were signed, the value of which amounted to EUR 4,912,814. In the second stage, another 67 apartments will be developed. At this stage of financing, the borrowed funds will be used by the company for further development of the project. The developer is currently investing 1.5 million in the project. own funds.
Investors are pledged a 1.09 ha plot of land with the construction of 2 multi-apartment buildings at Partizan? st. 34, Kaune. The foundations of the first stage were laid on the land plot, the first floor was laid, the walls of the second floor were also laid in one apartment building, and ceilings were laid. Residential apartment buildings built on the mortgaged plot will also be mortgaged to investors. According to an independent real estate appraiser, the value of the mortgaged property is EUR 1,270,500.
The first phase of construction is planned to be completed by 2021. 04 months, after installing apartment buildings with 80% completion. 100% of the construction works are scheduled to be completed in 2021. 12 months After the completion of the first stage - the construction works of the second stage will be started by the developer in 2021. 01 month
Maple House is a new construction project, energy A + class utility housing, which is designed taking into account the needs of the local climate and building users, therefore energy consumption is extremely low. The project is being developed at the junction of Dainava and Zaliakalnis districts, surrounded by trade, recreation, entertainment and leisure places, medical and educational institutions. The project will improve well-being, equip outdoor musical instruments, fitness areas, a wooden house, an adventure track, fenced playgrounds. Picturesque rooftop terraces for relaxation. This project is being developed by CITUS, one of the TOP 5 real estate developers in Lithuania.
Investors at all stages will be pledged the property with a primary mortgage.
Maximum planned amount of project financing: EUR 3,000,000. The project is financed according to the current valuation of the mortgaged property until it reaches the set maximum LTV - 70%.
After this financing stage, when the maximum LTV is reached, a new valuation of the pledged property will be performed. Further stages of the Project financing will be announced and collected only if the set maximum LTV of 70% is not exceeded.
In order to operate transparently and fairly, we would like to inform you that the investment company UAB Celijus for Closed-End Informed Investors is one of the members of the Citus group of companies, one of the beneficiaries of which is also the shareholder of UAB Sutelktinio financing platform Profitus. We draw your attention to the fact that the project developer is directly related to UAB Sutelktinio financing platform Profitus. We confirm that the financing of the project is carried out in accordance with the principles of transparency, impartiality, openness and equality.
We plan to collect the accumulated amount within 7 days with the possibility to extend it to 21 days. without raising funds.
Project visualizations are also provided. More information about the project: www.klevunamai.lt
|Title of the project||Type of asset||Address of the project||Purpose and area of the parcel of land|
|Maple House IV||Residential||Partizanu st. 34, Kaunas||1,0966 ha|
|Year of construction of the object of the project||Area of the object (building)|
|Energy class||Duration of repair/construction||Description of the site of the project|
|A+||12 months.||Maple house is located at the junction of Dainava and Zaliakalnis districts. The project is being developed in a quiet and convenient place - the surrounding shopping, leisure, entertainment and leisure places, medical and educational institutions.|
To ensure the interests of investors, a plot of land with foundations will be pledged, on which 2 multi-apartment houses will be built. New houses under construction/planned to be built on the plots will also be pledged to investors.
Investors at all stages will be pledged the property with a primary mortgage. During this financing stage, the property pledged to investors will be used to secure the obligations of the project owner for other (additional) financing stages, provided that the project owner raises the value of the pledged property to such a level as to meet the maximum LTV of 70%.
Following this funding phase, a new valuation of the mortgaged property will be performed. Further stages of the Project financing will be announced and collected only if the set maximum LTV of 70% is not exceeded.
When investing in this project, during the second and subsequent funding stages, the invested funds will be repaid to investors only after settlement with the investors who have invested in the previous funding stages. This condition does 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 provision will also not apply in the event of termination of the loan agreement.
|Plot of lands||Partizanu st. 34, Kaunas||1996-8019-9028||1,0966 ha|
|Address of the pledged asset||Unique number of the pledged asset||Independent assessor||Value of the pledged asset by independent assessment|
|Partizanu st. 34, Kaunas||1996-8019-9028||UAB "Centro kubas"||1 270 500 €|
|Type||Investment purpose||Requested amount to be funded||Investment period*|
|Loan||RE development||91 000 €||12 month|
|LTV||Time remaining||Investment repayment form||Frequency of payment of interest|
|70% (Max. 70%)||7 days||At the end of the period||Once per quarter|
|Source of payment of interest||Annual interest rate|
|*Note. The real estate developer can repay part or all of the loan earlier, but the co-paid interest must be at least for 3 months.|
|Type||Title of the company||Company code|
|Legal entity||Uždarojo tipo informuotiesiems investuotojams skirta investicinė uždaroji akcinė bendrovė „Celijus“||304452194|
|31.01.2021||Paid||No||02 February 2021, 00:00|