Reitis Residences, 26 Duca Voda Street, IS, RO
• Type of investment: Residential (Collective dwellings)
• Address: Podu Rosu, Iasi, 26 Duca Voda Street
• Constructed Surface: 720 square meters
• Guaranties: By square meters of property within the buildings and legally secured smart contracts.
This is another opportunity to invest in a Reitis Capital project. Alesia Residence is a block of flats located 1.4 km away from downtown – Iasi, located near the Palas Lifestyle Center.
The block will have 10 apartments and 10 parking spaces with a built area of 720 square meters. The residential complex is located on the Duca Voda Street, right behind “Casa de Cultura a Sindicatelor” (the Union Culture House of Iasi).
At this moment we have submitted the documentation for PUZ (Zonal Plan) approval and, after getting the approval, we are going to submit the documentation for the building permit.
This building, as all of our buildings, will be designed to minimize the cost of home maintenance, increase environmental comfort and provide a healthy habitat. It will be an energy efficient building, being correctly and properly enveloped with equipment that brings a free energy supply to the tenants. The aim is to offer the end user a constant source of added benefits at a decent, affordable price.
• Project Cost: €396,200.
• Amount needed for Development: €396,200 euros in 2 stages
• Main Retention Period = 2 years
• Interest = 11%
• Interest Payments Made from Day One = 11%
• Buyback fund: YES.
The cost of the investment is €396,200. The funds will be used for the construction of the housing complex and will be raised by investors in two stages, as following:
– Stage 1: Documentation, authorization, land preparation, foundation execution and structure building, masonry and screed execution, roof waterproofing, exterior finishing and exterior carpentry.
Required funds = €237,720.
Execution period = 12 months.
– Stage 2: Execution of interior finishes, installations, exterior arrangements and energy efficiency.
Required funds = €159,480.
Execution period = 6 months.
The investment term for this current funding stage is up to 24 months.
The fixed interest rate for this opportunity is 11% annually, with daily interest payments.