Co-living: P97, Vilnius II
Reasons to invest in the project Co-living: P97, Vilnius II:
- The apartments are fully rented out for 18 tenants;
- The apartments are already generating 6,162 EUR in monthly rent;
- Fixed attractive annual rental yield: (6.5% – 7%);
- Fixed annual return on capital gains: (+1.75%) (paid at the end of the project);
- An independent appraiser valued the premises at EUR 886,000;
InRento presents the second stage of buy-to-let project: Co-living: P97, Vilnius II. The investment case consists of a co-living apartment project in Vilnius, the capital of Lithuania. The property is located at Pramonės str. 97, Vilnius – just 15 minutes away with a car from the Vilnius old town.
The total area of the project is 1341.15 m², which consists of the premises and common areas on the sixth, seventh and eighth floors.
Currently, the sixth floor is fully equipped and fully rented out. The premises are generating EUR 6,162 in rental income per month from 18 tenants. The installation of the seventh and eighth floors is planned to be similar to the sixth. The project owner expects to generate EUR 18,000 in rental income per month after installing the additional two floors.
The project owner will pay a fixed 6.5–7% annual interest (as a rental return) depending on the amount invested. The project also has a fixed percentage of capital gains. Investors earn a fixed 1.75% return on capital gains per year, which raises the overall return on the project to 8.25% – 8.75% annual return based on the amount invested.
The mortgage for this project was registered on June 2nd, 2022 (find documents in documents section). The rental income (interest) payment of the second stage for investors will start being calculated from the date of loan disbursement to the project owner.
This project will be funded in four phases:
The first phase (Co-living: P97, Vilnius I) already funded with EUR 200,000;
The second phase (Co-living: P97, Vilnius II) will be funded with EUR 200,000;
The third phase (Co-living: P97, Vilnius III) will be funded with EUR 200,000;
The fourth phase (Co-living: P97, Vilnius IV) will be funded with EUR 200,000.
The capital gains are fixed and payable together with the repayment of the loan amount for the preceding instalment ("Instalment"), with the return for each successive Instalment being added to the calculation of the return. The Instalment shall be considered as per one calendar year. A fixed increment of 1.75% shall be applied to the Instalment.
Example calculation: If the Loan is repaid after one year, a fixed return of 1.75% applies. If the Loan is repaid after 24 months, a fixed return of 3.5% applies. If the Loan is repaid after 36 months, a fixed return of 5.25% applies. If the Loan is repaid after 48 months, a fixed return of 7% applies. If the Loan is repaid after 60 months, a fixed return of 8.25% applies.The profit margin is payable whether or not the Loan is repaid on sale of the property.
2022-12-15
Due to a change in the sequence of renovation works, the project has undergone modifications in the facade of the building, and the replacement of the roof works began in order to improve the insulation of the premises. Therefore, an amendment to the contract has been signed with the borrower, which reduces the loan-to-value ratio (LTV) of the disbursement of the third stage to 43% (the previous LTV was 80%). The LTV of the fourth stage will be reduced to a maximum of only 57% (the previous LTV was 80%).
By the time of the disbursement of the last stage of the loan, the owner of the project must have fully completed all floors of the property and generate a monthly rental income of at least EUR 6,700.
The agreement’s amendment is uploaded in the documents section.
2022-12-15
Due to a change in the sequence of renovation works, the project has undergone modifications in the facade of the building, and the replacement of the roof works began in order to improve the insulation of the premises. Therefore, an amendment to the contract has been signed with the borrower, which reduces the loan-to-value ratio (LTV) of the disbursement of the third stage to 43% (the previous LTV was 80%). The LTV of the fourth stage will be reduced to a maximum of only 57% (the previous LTV was 80%).
By the time of the disbursement of the last stage of the loan, the owner of the project must have fully completed all floors of the property and generate a monthly rental income of at least EUR 6,700.
The agreement’s amendment is uploaded in the documents section.
2022-09-16
We would like to inform you that the monthly interest from project owner was received on time. However, due to issues we are facing on the payment processor’s side we can not process the payments correctly. Interest payment for this project is received and the funds are secured in escrow account. We are aiming to distribute these payments as soon as possible on the upcoming business days.
2022-06-02
We would like to inform you, that the mortgage on the project – Co-living: 97, Vilnius asset has been successfully placed (the document is attached in the documents section). The interest for the project will be distributed next month.
If you have any questions, do not hesitate to contact us at info@inrento.com or call us at +37069347427.
InRento team
Enabled Projects
Vilnius Lithuania