10 February 2021
SIB Group offers to invest in a residential building project in Vilnius| 10% ROI
PeerBerry’s business partner, real estate development company SIB Group, starts to develop a residential building project ‘Skvero namai’ in a very attractive place in the Lithuanian capital – in the center of Vilnius. SIB Group invites PeerBerry investors to contribute to the development of this project and offers a 10% ROI.
About the residential building project ‘Skvero namai’ (T.Ševčenkos str. 25, Vilnius, Lithuania)
The city’s infrastructure at the site where the new residential complex is being developed is very well developed for comfortable living: there are many shops, cozy restaurants, sports clubs, the capital’s largest cinema, kindergartens, and schools. Those who like sports and nature will instantly reach the largest green oasis of Vilnius – Vingis park.
Modern houses are designed with aesthetic architecture and luxurious exterior decoration. Natural light through large windows and rationally planned spaces create a cozy home atmosphere for life, work, and creativity.
Project development details
The borrower in the project ‘Skvero namai’ is a real estate development company Bromita LLC. The loan originator is Teratus LLC. Both companies work under the SIB Group name. The partner of SIB Group’s project ‘Skvero namai’ for project management, marketing, and sales is REWO – a company with 9 years of experience in real estate project management and sales.
Details of the project:
- Collateral – pledge of all Bromita LLC rights on present and future contracts and receivables
- Appraiser valuation (before reconstruction) – 2 320 000 Eur (Inreal LLC, 2020-09-21)
- Collateral value (after reconstruction) / planned sales revenue – 7 600 000 EUR (excl. VAT)
- Loan to value (LTV) – 65%
- Total area for sale (apartments) – 2 798 sq.m.
- Parking lot places – 60
- Apartments – 61
- Total investment – 4 017 000 EUR
- Investment into land plot – 1 047 000 EUR
- Investment into construction – 2 970 000 EUR
- Invested private capital (Bromita LLC) – 2 517 000,00 €
- Invested borrowed funds (Bank loan) – 500 000,00 €
- Need for funding – 1 000 000 EUR
- Date of loan issue – 2021-02-10
- Closing date – 2022-02-10
- Initial term – 360 days
Reconstruction of the residential buildings ‘Skvero namai’ will start in Q2 2021. The planned completion of the project is Q2 2022.
Guarantees for investors
All real estate loans on PeerBerry are offered with a buyback guarantee. There is a pledge of all company rights on present and future contracts and receivables. PeerBerry responsibly evaluates all real estate projects offered to investors. The platform only works with those partners who have a proven track record. PeerBerry only accepts high liquidity projects that are located in the Lithuanian capital Vilnius or the Vilnius region. All real estate projects listed on PeerBerry were implemented successfully and timely. There has never been a delay in the repayment of real estate loans to investors in PeerBerry’s history.
About SI Baltic https://sibgroup.lt/
SI Baltic LLC is a mother company of SIB Group, which unites several real estate development companies in Lithuania since 2008. The Group mainly focuses on projects in Vilnius – the capital city of Lithuania. During the past 12 years, the Group has developed more than 10 different real estate projects with an overall reach of over 10 million EUR of investments and a sales volume of more than 12 million EUR.
Having 10 years of successful cooperation with minor partners, SIB Group has built and sold over 7500 square meters of residential real estate as well as over 1000 square meters of commercial-administrative purpose real estate. The Group also takes part in land development projects.
The Group has long term goals of creating real estate for life, focusing on the analysis of market demand and its’ changes, continuously exploring the real estate market, and finding the best solutions for residential and business needs.