Valakampiai bonds

UAB N35

Project Identification Number: 9845000909E2CCFD9O44-00000016 

Use of proceeds 

Funds raised during the bond issue, amounting to € 1 M, will be used to finance the initial payment for the acquisition of a land plot and to cover early project development costs of a residential real estate project in Valakampiai (Nemenčinės Rd. 37, Vilnius), developed by Aggressive Capital. 

The acquisition of the 1.168-hectare land plot will be carried out in two stages. During the first stage, an initial payment of € 1 M will be made, while the final settlement for the land plot is planned within two years, once the building permit is obtained. Legal due diligence of the land plot and the structuring of the acquisition transaction were carried out by the law firm Walless. 

The project will be developed in the prestigious Valakampiai district of Vilnius, surrounded by pine forests. The development will consist of a premium class low-rise residential apartment complex. The project will feature spacious apartments with balconies and rooftop terraces, while preserving the mature pine forest and the natural character of the surrounding environment. 

Valakampiai is considered one of the most sought-after residential areas in Vilnius. The supply of housing in this district is very limited, which has helped maintain consistently high property prices. 

It is anticipated that upon maturity, the bonds will be redeemed from the shareholders’ funds or through refinancing. The BeMyBond platform also plans to participate in the financing of the subsequent development stages of this project. 

The bonds will be secured by a second-ranking pledge over the land plot and the building complex located at Nemenčinės Rd. 37, Vilnius. The first-ranking pledge, which is limited up to € 4 M, will remain with the current owner of the land plot, securing the deferred payment for the land acquisition. The Loan-to-Cost (LTC) ratio for the project may not exceed 85%. 

Project Structure 

The total project costs at this stage amount to € 5.9 M, which consists of € 0.9 M project development costs and € 5 M land acquisition costs. The project development costs will be financed with € 0.9 M in shareholders’ equity and loans and € 5 M land acquisition costs will be covered by € 1 M advance payment financed via BeMyBond bonds and € 4 M will remain as a deferred payment to the seller of the land plot. 

More detailed information about the capital structure is provided in the Key Investment Information Sheet.

UAB Aggressive capital finansinės ataskaitos už 2023 m. su auditoriaus išvada

UAB Aggressive capital finansinės ataskaitos už 2024 m. su auditoriaus išvada

The project owner is UAB N35, 40% of which is owned by the fund management company UAB Aggressive Capital, led by Kęstutis Ivanauskas. The remaining shares are owned by UAB Reho (20%) and UAB TB investicijos (40%). Together with Aggressive Capital, these companies are the main investors in the project. 

During the course of the project, it is planned to convert UAB N35 into a fund structure, which is more suitable for attracting and administrating investors. The company’s documentation has already been submitted to the Bank of Lithuania for this procedure. 

Aggressive Capital has been operating since 2020, when it received a licence from the Bank of Lithuania to manage funds intended for well informed investors. The company currently manages nine investment funds with total assets amounting to € 240 M. The custodian of the funds’ assets is Artea Bank, and the auditor is ROSK Consulting. 

Among the managed funds are Retail Opportunity Fund, which invests in high-yield commercial real estate development projects, primarily retail parks located next to grocery stores; Nordspace, a commercial real estate fund developing and leasing premises under the “business boxes” concept – a more compact version of “stock offices” designed for smaller businesses in Lithuania, Latvia, and Poland; and A3 Residential Fund, which develops premium residential real estate projects, including Algirdo 3 in Vilnius.

+ 5

Bonds for a residential project in Valakampiai

9%

24 months

€ 1 000 000

Low risk

Average amount invested

Investments

Interest return period

Launch date

Starts in

Use of proceeds & project structure

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Project location

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