Update from the originator:
Please be informed that the borrower has delayed the payment of interest on November 30, 2021.
If the project owner is late in paying interest and returning the investment, from 1 December 2021 (inclusive), an increased annual interest rate of + 5% will be calculated.
The first call for payment will be sent to the project owner within 10 days.
We remind you that the outstanding amount of the loan and interest on (November 30, 2021) is EUR 102,676.81, and all those who have invested in this project, according to the valuation performed by the independent real estate appraiser UAB Centro kubas - nekilnojamasis turtas, are pledged assets for 163 700 euros. So your investment is protected.
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Macro Location Analysis
EvoEstate Risk rating is of an informative nature only & can not be considered investment advice.
Loan To value
A new staged financing project “Namas Antakalnyje” in Vilnius, the funds of which will be allocated for the development of the real estate. The amount collected is EUR 100 000.
The project owner buys a 6,67-acre plot and an unfinished house on the plot. The two-floor house is 185 square meters - on the first floor there is a spacious kitchen, a common dining and living area, study and guest rooms. There are also three bedrooms on the second floor of the house. Prior to full partial finishing, it is necessary to install communications inside, install electrical inlets, concretize and install the floor, perform wall and ceiling finishing works, install stairs, complete the facade installation works and arrange the well-being. Registered home completion is currently 54%. In total, it is planned to spend about EUR 80 000 on the construction works. The duration of the works is 4-5 months
The owner of the project intends to complete the construction work and sell the one-bedroom house. The estimated selling price per square meter is EUR 1 650 with partial finishing. The planned sales revenue for the whole project is EUR 300 000.
To protect the interests of investors, a 6,67-acre plot of land, a one-room residential building in progress and a building-warehouse on Girininkijos str. 52 in Vilnius, Antakalnis district. According to an independent real estate appraiser, the value of the property pledged to investors is EUR 163 700.
The project is located in a picturesque, northern part of Vilnius, in a quiet and forested area, Girininkijos Street. The Neris River flows nearby, and the Balzis and Tapeliai lakes are easily accessible a few kilometres away. The project has a well-developed infrastructure - just 20 minutes by car or public transport to the city centre
The maximum amount funded is EUR 200 000. 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) at this stage is 62%.
Interest by investment amount:
- From EUR 100 to EUR 999 - 8%
- From EUR 1 000 to EUR 9 999 - 9%
- From EUR 10 000 - 10%
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.
To protect the interests of investors, a plot of land, Building - residential house and Building - warehouse are detached.
During this 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%.
When investing in this project, the funds invested during this and subsequent financing phases will be returned to the investors only after settling with the investors who have invested in the first phase. This condition does not affect the priority of the investor's right to the collateral, the overall ratio between the collateral and the investment amount. This condition also does not apply in the event of termination of the loan agreement.
For investors at all stages, the property is pledged as a primary mortgage.