The real estate developer MB "iCUB" is developing a block of ten two-apartment residential houses in the Vilnius suburb of Didžioji Riešė (15 km from the center of Vilnius). 307 m2 and 322 m2 houses are under construction. Each apartment owns ~ 5a plots of land. The project is being developed successfully—several properties have already been sold, and other apartments are being prepared for sale.

Crowdpear has financed four MB "iCUB" projects, one of which has already been completed with the successful sale of the developed property. In the other two projects, part of the property has been sold, and the remaining developed properties have already reached the final stage and are being sold. Construction of two more duplex houses on plots mortgaged to the platform at the addresses Žemoji g. 46 and Žemoji g. 48 is undergoing.

In the project "Žemoji 44", funded by Crowdpear, one of the two apartments has already been successfully sold, and the second is in the sale process. The registered completion of the "Žemoji 44-2" apartment (address Žemoji 44-2, Vilnius) is 85%. The planned sale price is 350 000 EUR (including VAT). The estimated costs for this apartment are 317 000 EUR (including VAT).

While the sale process of the second apartment, i.e., "Žemoji 44-2", is ongoing, the loan repayment deadline approaches. The developer applied to the platform regarding refinancing the loan to extend the loan term.

A part of the plot (area 5.505 a) and a 153.89 m2 apartment in a duplex apartment building on the plot are mortgaged to the platform. According to the property valuation report, the value of the property mortgaged to the platform is EUR 271 000. The requested loan amount is EUR 208 000 (LTV 77%).

The loan to investors will be repaid from the proceeds of the sale of the mortgaged property.

MB "iCUB" fulfills its obligations to investors in a disciplined manner on time or with short and reasonable delays.

The developer MB "iCUB" has long-term successful experience in the implementation of real estate projects. The total area of projects already developed by the company reaches more than 10 000 square meters.

Offer for investors

·        annual interest rate: 10%-12.5%*,

·        interest payment frequency: quarterly,

·        investment duration: 12 months,

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

·        LTV: 77%,

·        project rating: C,

·        funding amount – EUR 208 000,

·        collateral value: EUR 271 000,

·        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:

·        +0.25% additional interest is applied for investments from EUR 350,

·        +0.5% additional interest is applied for investments from EUR 700,

·        +0.75% additional interest is applied for investments from EUR 2 000,

·        +1% additional interest is applied for investments from EUR 5 000,

·        +1.5% additional interest is applied for investments from EUR 7 500.

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

An additional +1% interest (welcome bonus) applies to all your investments made within 90 days of registration.

Up to 1% loyalty interest

Depending on the size of your investment portfolio, you are granted loyalty status and up to 1% higher interest. Read more about Crowdpear Loyalty Program.

Recommend Crowdpear to your friends and get a bonus

Invite your friends to invest at least EUR 300 in Crowdpear, and you and your friends will receive a EUR 15 bonus each. The more friends you invite, the more bonuses you get. See full terms and conditions.

To secure investments, investors are pledged apartment with terrace, the areas of which are 153.89 m2 and a plot of land of 0.05505 ha, at the address Žemoji St. 44, Didžioji Riešė, Vilnius district, is pledged to the platform.

The maximum expected LTV of the Project - 77 percent.

In the Project, the property will be pledged to the investors with a primary mortgage.

Real estate is pledged to secure the interests of investors:

1. Property type – apartment with a terrace

 2. Property type – land plot

The value of the mortgaged real estate was determined by:

·        Independent property appraiser: UAB "Centro kubas - Nekilnojamas turtas".

·        Determined value of mortgaged property (including VAT): EUR 271 000.

·        Value determination date: 15.03.2024.