"Röntgen" Platform's Investors to Finance "Kaip Niujorke" Apartment Development
Vilnius, May 14 (ELTA). UAB "Victory Funds", which manages seven investment companies tailored for informed investors with a portfolio exceeding EUR 30 million, will collaborate with the crowdfunding platform "Röntgen" to develop a new apartment project called "Kaip Niujorke" on Kareiviu Street in Vilnius.
According to the company, retail investors will also have the opportunity to contribute to the development of this new project, which consists of 174 apartments in a promising part of the capital. The investment company "Victory Development V", managed by "Victory Funds", has agreed to finance the first stage of the "Kaip Niujorke" project through the "Röntgen" crowdfunding platform. The construction and sales management of this project are already being handled by the experienced real estate services company "Citus".
This week, "Röntgen" offered investors the chance to finance the first building of the EUR 8.4 million project, which is already underway and which will include 81 apartments with underground parking and commercial premises on the ground floor. Part of this project is being financed by "Victory Development V" through its own funds and privately placed bonds, while up to EUR 5.5 million will be raised in several stages through the "Röntgen" platform, offering its investor community annual returns of 8-11% and primary asset collateral. This marks the first partnership between "Victory Funds" managed investment companies and "Röntgen."
According to "Röntgen" CEO Martynas Stankevicius, this partnership not only opens up opportunities for retail investors to contribute to significant territory changes near the city center, created by an experienced developer, but also demonstrates the platform's maturity and the trust of market professionals.
"Crowdfunding allows everyday investors to participate in real estate projects that were previously accessible only to a select group of professionals. We are pleased that our crowdfunding platform is now regarded as a capable, mature, and predictable financing alternative, and this case will serve as an excellent example of synergy between professional and retail investors in realizing projects important to the city," said M. Stankevicius.
Vilius Pazereckas, fund manager at "Victory Funds", agrees that involving crowdfunding platforms in real estate project financing has become standard practice for developers, now standing alongside banks and credit unions.
"Platforms have long outgrown their status as market newcomers and are often capable of financing larger-scale real estate projects. We believe that this type of collaboration will only grow in the future, with platforms taking up an increasingly significant share of the real estate financing market. In each project managed by our companies, we select from several potential financiers, seeking the best option. In this case, "Röntgen" won our selection not only due to the favorable conditions offered but also because we monitor the performance of platforms in the market and see that "Röntgen" is capable of handling a project like ours, with good experience and high qualifications", stated V. Pazereckas.
He added that "Victory Funds" carefully and conservatively assesses today's market, but even under current circumstances, "Kaip Niujorke" has great potential due to the expected significant transformation of the northern part of Zirm?nai over the next decade, abundant preliminary inquiries, and a sufficient number of planned housing units that are in demand among young professionals, couples, young families, investors, or students.
Among the projects managed by "Victory Funds" are well-known residential projects in Vilnius and Kaunas, such as "Link Ten", "Misko ardai", "Visi Savi", "Radio City", and others.
"Röntgen" is one of the leading real estate crowdfunding platforms in Lithuania. Last year, "Röntgen" investors raised EUR 24.1 million for project development, a 70% increase compared to 2021. The platform stands out in the market for its conservative project selection strategy, focus on larger real estate projects, a significant share of professional and large investors, and is one of the few in the country without delayed loans.
"Röntgen" Platform's Investors to Finance "Kaip Niujorke" Apartment Development
Vilnius, May 14 (ELTA). UAB "Victory Funds", which manages seven investment companies tailored for informed investors with a portfolio exceeding EUR 30 million, will collaborate with the crowdfunding platform "Röntgen" to develop a new apartment project called "Kaip Niujorke" on Kareiviu Street in Vilnius.
According to the company, retail investors will also have the opportunity to contribute to the development of this new project, which consists of 174 apartments in a promising part of the capital. The investment company "Victory Development V", managed by "Victory Funds", has agreed to finance the first stage of the "Kaip Niujorke" project through the "Röntgen" crowdfunding platform. The construction and sales management of this project are already being handled by the experienced real estate services company "Citus".
This week, "Röntgen" offered investors the chance to finance the first building of the EUR 8.4 million project, which is already underway and which will include 81 apartments with underground parking and commercial premises on the ground floor. Part of this project is being financed by "Victory Development V" through its own funds and privately placed bonds, while up to EUR 5.5 million will be raised in several stages through the "Röntgen" platform, offering its investor community annual returns of 8-11% and primary asset collateral. This marks the first partnership between "Victory Funds" managed investment companies and "Röntgen."
According to "Röntgen" CEO Martynas Stankevicius, this partnership not only opens up opportunities for retail investors to contribute to significant territory changes near the city center, created by an experienced developer, but also demonstrates the platform's maturity and the trust of market professionals.
"Crowdfunding allows everyday investors to participate in real estate projects that were previously accessible only to a select group of professionals. We are pleased that our crowdfunding platform is now regarded as a capable, mature, and predictable financing alternative, and this case will serve as an excellent example of synergy between professional and retail investors in realizing projects important to the city," said M. Stankevicius.
Vilius Pazereckas, fund manager at "Victory Funds", agrees that involving crowdfunding platforms in real estate project financing has become standard practice for developers, now standing alongside banks and credit unions.
"Platforms have long outgrown their status as market newcomers and are often capable of financing larger-scale real estate projects. We believe that this type of collaboration will only grow in the future, with platforms taking up an increasingly significant share of the real estate financing market. In each project managed by our companies, we select from several potential financiers, seeking the best option. In this case, "Röntgen" won our selection not only due to the favorable conditions offered but also because we monitor the performance of platforms in the market and see that "Röntgen" is capable of handling a project like ours, with good experience and high qualifications", stated V. Pazereckas.
He added that "Victory Funds" carefully and conservatively assesses today's market, but even under current circumstances, "Kaip Niujorke" has great potential due to the expected significant transformation of the northern part of Zirm?nai over the next decade, abundant preliminary inquiries, and a sufficient number of planned housing units that are in demand among young professionals, couples, young families, investors, or students.
Among the projects managed by "Victory Funds" are well-known residential projects in Vilnius and Kaunas, such as "Link Ten", "Misko ardai", "Visi Savi", "Radio City", and others.
"Röntgen" is one of the leading real estate crowdfunding platforms in Lithuania. Last year, "Röntgen" investors raised EUR 24.1 million for project development, a 70% increase compared to 2021. The platform stands out in the market for its conservative project selection strategy, focus on larger real estate projects, a significant share of professional and large investors, and is one of the few in the country without delayed loans.
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