EvoEstate Risk rating is of an informative nature only & can not be considered investment advice.
Loan To value
Purpose of the loan
We present a new stage project "Gyvo miesto projektai". Project funds will be allocated for the acquisition of real estate (80 thousand) and for the development of real estate projects in Vilnius and Kaunas.
The project owner is engaged in real estate development for rent and sale. Currently implementing a real estate project on Vytauto Ave. 12-2, Kaune. The 173.84 square meter premises will be equipped with 8 studio-type apartments, which will be adapted for short-term rent. Currently, the project is carrying out demolition works, after which the premises will be overhauled, floors, windows and walls will be replaced.
The developer also intends to purchase 135.89 square meters of premises in Vilnius, Karoliniskes district, on the second floor, where he will also perform repairs. It is planned to install 6 separate office premises together with storage premises. According to the NTR, the completion of the acquired property is 100% (with all communications). The equipped premises will be sold, the estimated sales revenue is 169-181 thousand. euros.
To protect the interests of investors, 2 property units are pledged - 135.89 square meters of non-residential premises in Vilnius, Virginijaus Druskio str. 2 and 173.84 square meters non-residential premises in Kaunas, Vytauto ave. 12-2. According to an independent real estate appraiser, the value of the mortgaged property in Vilnius is EUR 101 000, and the value of the property in Kaunas is EUR 137 100. For all investors, the property is pledged with a primary mortgage.
The maximum amount funded is EUR 250 000. The project is financed according to the current valuation of the mortgaged property until it reaches the set maximum LTV - 70%. Once the maximum LTV is reached, a new valuation of the property will have to be performed and further stages of the Project financing will be announced and collected only if the set maximum LTV is not exceeded. The loan-to-value ratio (LTV) is currently 59%.
Interest by investment amount:
- From EUR 100 to EUR 499 - 7,5%
- From EUR 500 to 4 999 - 8%
- From EUR 5 000 - 8,5%
Important: separately made investments 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.
Title of the project
Type of asset
Address of the project
Area of the object (building)
Gyvo miesto projektai
V. Druskio st. 2, Vilnius; Vytauto av. 12-2, Kaunas
Investors of all stages will be pledged with a primary mortgage.
Real estate is pledged to investors: non-residential room (135,89 sq.m) address V. Druskio st. 2, Vilnius and non-residential room (173,84 sq.m) address Vytauto av. 12-2, Kaunas.
Real estate is pledged to investors - a 36.3 a plot of land, where the project will be developed, at Vismaliuku st. 44, Vilnius.
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.
Vilnius, Virginijaus Druskio st. 2
Kaunas, Vytauto av. 12-2
Address of the pledged asset
Unique number of the pledged asset
Value of the pledged asset by independent assessment
V. Druskio st. 2,Vilnius; Vytauto av. 12-2, Kaunas
UAB "Newsec"; UAB "Turto spektras"
238 100 €
Current installation of the object
Duration of repair/construction
Description of the site of the project
Water, Electricity, Heating, Sewer system
Both projects are located in busy locations with easy access to all parts of the city. The Vilnius project is located in an infrastructurally convenient and developed district of Vilnius, the Kaunas project is located in a central location in the city Kaunas, near Kaunas train station.
Title of the company
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Invest in Gyvo miesto projektai,Kaunas, Lithuania