04 August 2021
MO Garden apartments with 11,5% ROI | SIB Group
PeerBerry’s business partner, real estate development company SIB Group offers to invest in a residential building project “MO Garden” in Vilnius, the capital of Lithuania. Investments in the “MO Garden” project will bring 11,5% ROI to PeerBerry investors.
About the project
“MO Garden” is a modern multi-apartment house project, being developed in the Pilaitė district in Vilnius. During the first construction phase, 73 apartments will be built, of which 41 apartments have already been sold.
“MO Garden” are low-rise construction houses with 2-4 room apartments with terraces that are adapted to the needs of a modern person or family in a unique place of Vilnius, surrounded by nature. It is a balance between the rhythm of the city and the tranquility of nature. An indoor park with children’s playgrounds is planned in the “MO Garden” settlement, next to which there is a forest and ponds.
The borrower in the project “MO Garden” is a real estate development company Manreta LLC. The loan originator is Pakrantes bustas LLC. Both companies work under the SIB Group name. The partner of SIB Group’s project “MO Garden” for project management, marketing, and sales is REWO – a company with 9 years of experience in real estate project management and sales.
Project details:
- Collateral: pledge of all Manreta LLC rights on present and future contracts and receivables
- Collateral value: 3 416 000 EUR, Vertinimo partneriai LLC, 2021-05-17
- Loan to value (LTV): 70%
- Appraiser valuation: 3 416 000 EUR, Vertinimo partneriai LLC, 2021-05-17
- Planned investments in the project: 3 700 000 EUR
- Private capital investments in the project (Manreta LLC): 1 300 000 EUR
- Invested borrowed funds (Bank): 1 400 000 EUR
- Total area for sale: 4,259 sq.m.
- Number of apartments: 73 (41 apartment is sold already)
- Parking places: 111
- Need for funding: 1 000 000 EUR
- Date of loan issue – 2021-08-05
- Closing date – 2022-08-05
- Initial term – 360 days
- Investments with a buyback guarantee
