05 March 2021
SIB Group offers to invest in real estate project | 11,5% ROI
PeerBerry’s business partner SIB Group, which unites several real estate development companies in Lithuania, offers to invest in a real estate project with an 11.5% ROI.
SIB Group partner, company REWO, LLC, is buying a plot of land in Vilnius, the capital of Lithuania, from a state-owned company for the development of a real estate project, which includes residential buildings and commercial premises.
The total price of the land plot is 3 284 000 EUR. Under the conditions provided in the land plot purchase agreement concluded between REWO LLC and the state-owned company National Land service under the ministry of agriculture of the Republic of Lithuania, REWO LLC invests 1 284 000 EUR of private capital. The remaining amount of 2 000 000 EUR under the contract will be paid by the end of 2021. The collateral in this project – the pledge of all REWO LLC rights on present and future contracts and receivables.
The total area of the land plot is located in Bukciu str. Vilnius – 3,148 ha. The need for funding – 2 000 000 EUR.
The loan originator in this SIB Group real estate project is Pakrantes bustas LLC. The borrower – REWO LLC. The term of the loan – one year (360 days). The closing date of this stage of the project – March 5, 2022.
The land plot will be refinanced through a bank along with construction financing.
Further development of the project
According to the development plan of the REWO LLC project, the construction in the Bukciu str. in Vilnius will start in January 2022. In three stages, within period of 5 years, it is planned to build total 584 residential apartments and 600 parking places in the project area. The total area of residential and commercial premises and parking is 39,901 sq.m. The total planned sales revenues after the completion of the project – 66 341 456 EUR (VAT inc.).
About SIB Group https://sibgroup.lt/
About REWO LLC https://rewo.lt/