Pasaka

UAB S3 Invest

Project identification number: 9845000909E2CCFD9O44-00000009 

Use of proceeds 

The funds raised during the bond issue will be used to finance the construction of a new residential building Pasaka (or Fairy Tale in English) in the real estate project Nemunaičiai developed by the SBA Urban real estate company in Kaunas. The construction of the Pasaka project on the left bank of river Nemunas has begun in September 2024, with the projected completion of construction set for March 2026. The reservations of the apartments in the project are progressing successfully, with more than 40% of the apartments already being reserved as of the beginning of April 2025. 

The project name Pasaka was inspired by the famous Lithuanian artist‘s M. K. Čiurlionis artworks. The project is being built on the banks of the largest Lithuanian river Nemunas, and more than a half of its 90 apartments will have a unique view towards the river and Kaunas‘ historic centre. On the first and second floor, the commercial spaces are planned, which will include a medical centre, a cafe, and other businesses, while the apartments will seem to be floating in the air above the river. The projected investments in Pasaka will reach almost € 19 M, and the construction is being carried out by the Infes company. 

Pasaka, like all of the Nemunaičiai district, is designed by the architecture studio of National Prize laureate Rolandas Palekas. Pasaka belongs to the second phase of the Nemunaičiai project, which also includes the A-class business centre Hermanas and a multi-story parking lot. During the first development phase in 2023, a complex of five residential buildings with nearly 170 apartments was completed and sold, where the first residents have already moved in. 

By 2030, Nemunaičiai will expand to a 6 ha area, with total investments projected at around € 280 M. According to the SBA Urban team, the area with distinctive architecture on the left bank of the Nemunas river will form a new centre of Kaunas. In addition, a new Nemunas promenade is being designed next to Nemunaičiai, alongside a pedestrian bridge, which is currently under construction, leading to the Nemunas island, allowing residents to easily access the planned M. K. Čiurlionis concert hall, the Mokslo sala museum, the Žalgiris arena, a public swimming pool, and the entire park infrastructure. 

Project structure 

The Pasaka project costs are € 18,8 M. The project’s capital structure consists of € 6,7 M shareholders’ equity and buyers' advanced payments (35%), and € 12,2 M debt financing (65%). The debt financing will consist of € 10,7 M loan provided by Bigbank and the remaining € 1,5 M will be raised through bonds on the BeMyBond platform. The financing agreement with Bigbank has already been signed. More detailed information on the capital structure will be provided in the Key Investment Information Sheet on the platform. 

The bonds will be secured by a second ranking mortgage on the building complex and the land plot and will be subordinated to the project’s senior bank debt. 

Stakeholder investments 

The BeMyBond team members have invested in this bond issue. It has been done through the platform and with the same bond terms as for all the other investors.

S3 Invest audituotos finansinės ataskaitos už 2023 m.

S3 Invest finansinės ataskaitos už 2024 m.

Informacinis dokumentas

The owner of the project is the SBA Group‘s real estate development and management company SBA Urban, in partnership with the investment company TABA Invest, which belongs to the entrepreneur Tautvydas Barštys and his family. Together (through UAB S3 Invest), they are developing the residential project Pasaka in the Nemunaičiai real estate project. UAB S3 Invest is managed by the CEO Andrius Mikalauskas. 

SBA Urban has developed over 280 000 sq. m of various types of buildings since 2007. The consolidated value of assets under management by SBA Urban reached € 230 M at the end of 2023. SBA Urban invests in three strategic directions: Urban HUB, Urban LIVE, and Urban WIND. 

Urban LIVE develops “cities within cities” – large, mixed–use, integrated territories where comfortable and high-quality living spaces blend organically with innovative offices and commercial functions. Under this strategic direction, Urban LIVE is developing the Nemunaičiai district on the left bank of the Nemunas river in Kaunas. 

SBA Urban has also developed and managed A-class business centers Green Hall in Vilnius, and BLC in Kaunas, Lithuania. Additionally, the company has successfully developed a prestigious 65-apartment project Kopų slėnis in Palanga, and are currently developing Vėjo miestelis near the Curonian Lagoon, into which the BeMyBond community has already invested € 5 M in bonds. 

Founded in 1990, the SBA Group is one of the largest business groups in Lithuania, operating in the fields of furniture and textile production, real estate development, and investment management. In 2023, SBA Group’s turnover reached approximately € 400 M.

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Bonds for residential project Pasaka

7.25%

24 months

€ 1 500 000

Low risk

Average amount invested

Investments

Interest return period

Launch date

Time remaining

Use of proceeds & project structure

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