In the first phase, Evernord successfully placed €6.75 million worth of bonds for “Demus Development VII.” The capital raised will be used to launch and develop the “CITUS Arti” real estate project.

About the Issue:

  • Issuer: UTIISIB UAB “Demus Development VII”
  • Issue Size: up to 18.6 million EUR (first phase: 6.75 million EUR)
  • Annual Interest Rate: 8%
  • Interest Payments: quarterly
  • Maturity date: April 29, 2028
  • Collateral: The bonds are secured by a first-priority mortgage.
  • Purpose: The proceeds will be used to acquire the land and finance the first phase of construction.

“CITUS Arti” is a modern development spanning more than 14,000 square meters on Panerių Street, near Vingis Park. In the first phase, 130 apartments and 29 vacation apartments will be offered to the market, with construction set to begin as early as May.

Vismantė Šepetienė, Head of Evernord FM: “We believe that creating sustainable value in the real estate market is impossible without reliable partners, which is why we value our professional collaboration with the project managers. Our goal remains unchanged—to pool capital and expertise with experienced market players to implement solutions that generate long-term benefits for both investors and the city.”

Vilius Pažereckas, Fund Manager: “This offering allows us to consistently implement our strategy—to invest in strong, growing urban locations. The “CITUS Arti” project stands out due to its location near Vingis Park and within the context of the Naujamiesčio transformation, so we see clear potential for long-term value growth, which creates an attractive return prospect for investors.”

The project is managed by DEMUS, a partner with many years of experience, while construction management is handled by “Citus Construction.”

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