TIMESHARE
Available for funding: €0
 
€225 000
223 investors

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Annual fixed-return rate
8.23% - 8.75%

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Capital Gains
Fixed 2% annualy

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Reasons to invest in the project Floatel, Vilnius I:

Incredible location of the property – next to the Gediminas Castle and Vilnius Cathedral;

The company has all the applicable permits and approvals from the Municipality to establish such hotel;

Unique buy-to-let project with – Timeshare;

Fixed interest linked (indexed) to inflation and is paid every month to investors with an attractive 8% – 8.5% annual return;

Fixed annual return on capital gains: +2% p.a. (paid at the end of the project);

Maximum LTV of 70% for this and all remaining stages of the loan;

The collateral has been appraised at EUR 1,139,400 by an independent appraiser (detailed information can be found in appraisal report).

InRento team presents a unique buy-to-let investment opportunity – Floatel, Vilnius I. The investment offer consists of a three-storey hotel on the water with apartments and a restaurant next to the King Mindaugas Bridge in Vilnius. 

The project consists of 23 apartments on the first and second floors of the hotel, focused on short-term rentals, and a rooftop terrace-restaurant on the third floor with a great view of Gediminas Castle and the Vilnius Cathedral. 

This project is unique in Lithuania – this type of concept is quite popular in many cities around the world due to the attractiveness of the location, as hotels on the water can be built in places where land is not available or where it would be extremely expensive to buy or rent. As a result, higher rental yields can be expected compared to traditional hotels. 

This type of project has not only financial but also cultural significance, as unique experiences increase the attractiveness of the city for both residents and tourists. 

The owner of the project, Karolis Paulauskas, has over ten years of experience with floating constructions and the oil industry. The project is expected to generate EUR 342,000 in revenue from the apartments, restaurant and bar in the first full year of operation in 2024. 

The planned price of the apartments is EUR 65 per night in high season, with an average occupancy rate of 75%, and EUR 45 in low season, with an occupancy rate of 40%. The rent per square metre of the terrace will be EUR 11.

Investors will be paid a fixed interest rate of 8% – 8.5% per annum, depending on the amount invested, every month. This project also has a fixed annual capital growth rate of 2%, payable at the end of the project. This raises the total yield for this phase to between 10% and 10.5% annual return.

The project also has a Timeshare, those investing from EUR 5,000 and up will have the opportunity to book a night's accommodation and stay for free in the Floatel. More information below. 

In order to further protect the investors' investment, a building and a plot of land located in the prestigious area of Vilnius – Užupis is being mortgaged in the name of investors, which is valued at EUR 1,139,400. 

2024-06-03

We would like to inform you that the additional mortgage on the project’s – Floatel, Vilnius assets, has been successfully placed (the document is attached in the documents section).

2024-05-28

Please be informed that the process of pledging additional assets has taken slightly longer than usual. The notarial registration of the mortgage is scheduled to take place within a week. 

In view of these circumstances, we will pay to all those who have invested in the seventh phase of this project a cashback payment of 0.5% (taxes inclusive) of the amount invested. 

We apologise for any temporary inconvenience.

2023-10-10

Please be informed that an amendment to the Special Terms and Conditions of the Loan Agreement has been signed and can be found on the platform, in the documents section. 

The updated project terms and conditions have reduced the number of financing stages to seven and increased the amount of the sixth financing stage, while the other project terms and conditions remain unchanged. 

The value of the pledged assets for this project amounts to EUR 1,390,000. The maximum loan-to-value (LTV) ratio remains unchanged at 70%.

2023-07-19

We would like to inform you that the mortgage on the project’s – Floatel, Vilnius assets, has been successfully placed (the document is attached in the documents section).

The first interest payment for this project will be distributed next month.

2023-07-15

Dear investor,

We would like to inform you that an amendment to the special terms of conditions has been made. Previously real estate collateral was planned to be mortgaged only in stages, but we've reached an agreement to mortgage all property units right now. This, in turn, has reduced the first and second stages LTV.

You can find the signed amendment attached in the documents section. The mortgage signing is planned to be carried out next week.