Real estate developer UAB "NED LT" develops 2 two-apartment residential houses at Piliarožių str. 14 and 16, Gilužiai village, Vilnius district (the capital of Lithuania). After receiving Crowdpear's funding, the company purchased two plots of land, each with an area of ​​10.36 a, and began construction of two-apartment houses. Residential buildings and their apartments are already registered. The registered completion of the apartments at Pilarožių str. 14 (area of ​​144.75 m2 each) is 46%, and the registered completion of the apartments at Piliarožių st. 16 apartments (area of ​​142.03 m2 each) is 47%.

The project is being developed rapidly; masonry work has been completed in both buildings, stairs have been poured, and electricity, water supply, and sewage systems have been installed.  Windows have been installed in the building under construction at Piliarožių g. 14, an underfloor heating system has been installed, the floor covering has been poured, and the roof has been covered, external wall insulation and reinforcement works completed. In the building at Pilarožių str. 16, all windows have been installed, an underfloor heating system has been installed, the floor has been poured, wall partitions have been installed, walls have been plastered and are being painted, the tiles have been laid, insulation and reinforcement of external walls have been completed, the roof has been installed, and stone paving stones have been laid on the plot, and other work continues.

According to the developer's calculations, the project development costs will be EUR 840 000 (including VAT); the planned income will be EUR 1 200 000 (including VAT).

According to the most recent property valuation reports submitted, the value of the plot at Piliarožių str. 14, and the duplex to be built on it as of 21/02/2025 is EUR 446 000, and the value of the plot at Piliarožių str. 16, and the duplex to be built on it is EUR 465 000. The total value of the property pledged to the platform is EUR 911 000.

The project "Piliarožių 14" will be funded in several funding stages. To develop the project "Piliarožių 14", UAB "NED LT" plans to borrow a total of EUR 680 000 in stages (maximum allowed LTV 70%). The company borrowed EUR 564 800 in seven funding stages. To accelerate the project's development, in the eigth funding stage, the developer borrows EUR 72 900 (LTV 70%).

The developer and the works manager declare extensive experience in the real estate market. The total area of ​​the developed projects exceeds 5 000 m2.

Interest to investors will be paid from the shareholder's contributions and additional company activities (finishing works are being carried out on other objects). The loan will be repaid from the proceeds of the sale of the mortgaged property.

Offer for investors

·        annual interest rate: 10%-12%*,

·        interest payment frequency: quarterly,

·        investment duration: 12 months,

·        repayment of the investment: after the end of the contract,

·        LTV: 70%,

·        project rating: C,

·        funding amount – EUR 72 900,

·        collateral value: EUR 911 000,

·        collateral: primary mortgage.

*The final interest rate for the investment in this project depends on the additional interest applied to the investor (up to +1%) and the amount invested in the project:

·        +0.5% additional interest is applied for investments from EUR 350,

·        +0.75% additional interest is applied for investments from EUR 3 500,

·        +1% additional interest is applied for investments from EUR 7 000.

For the additional interest rates to be applied, make sure to invest a specified amount as one investment. Separate investments in the same project are not summed up.

Crowdpear employees, shareholders, and related persons also invest/can invest in the investment offers open on the Crowdpear platform and are subject to the same conditions as other investors. According to regulatory requirements, this is mandatory information disclosure, which should not be perceived as investment advice or a recommendation to invest in a loan.

Additional benefits for Crowdpear investors

On Crowdpear, the interest starts to be calculated from the first day of investment. It is a great advantage for our investors because, in the market (on other crowdfunding platforms), the interest starts to be calculated only the day after the entire loan is collected.

+1% welcome bonus

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To secure investments, investors are pledged two plots of land of 0.1036 ha each, at the addresses Vilnius district, Avižienių eldership, Gilužių village, Piliarožių st. 14, 16. Also pledged are two apartments/premises of 144.75 m2 each and two of 142.03 m2 each, at the addresses Vilnius district, Avižienių eldership, Gilužių village, Piliarožių st. 14-1, 14-2 and  Piliarožių st. 16-1, 16-2 are pledged to the platform.

Assets pledged to investors in this funding stage are and can be used to secure the obligations of the project owner in other (further) funding stages of this Project. The following stages of funding will be carried out when (if) the Project owner continues the development of the Project and increases the value of the pledged property.

The maximum expected LTV of the Project is 70 percent.

At all stages of the Project, the property will be pledged to the investors with a primary mortgage.

When investing in this staged funding Project, funds will be returned to Investors in separate stages, i.e., investors who invested in the first funding state of this Project will be settled first. Other repayments will be made to investors who have invested in the second, third, and subsequent funding stages. This condition does not affect the priority of the investors' right to the collateral and the total ratio of the collateral to the invested amount. This condition also does not apply in case of termination of the Loan Agreement.

Real estate is pledged to secure the interests of investors:

1. Property type – land plot

2. Property type – land plot

3. Property type – Apartments/Premises – Apartments

4. Property type – Apartments/Premises – Apartments

5. Property type – Apartments/Premises – Apartments

6. Property type – Apartments/Premises – Apartments

The value of the mortgaged real estate was determined by:

·        Independent property appraiser: UAB “Latmas” nekilnojamas turtas

·        The determined value of the mortgaged property (including VAT): EUR 911 000.

·        Value determination dates: 21.02.2025.