We present the second stage of the phased financing project - "Antakalnio vakarai". The funds raised will be used for the development of a real estate project. The amount to be raised is EUR 100 000.
About the project owner:
The project owner has many years of experience in real estate development. Has implemented 6 different projects with a total area of 40 715 square meters.
The aim of the project:
The owner of the project purchased a 93.36-acre plot of land in the city of Vilnius, for which a construction permit has been issued. The owner of the project is currently building one B-class, 30-apartment apartment building on the plot. Each apartment will have a parking space. Construction is scheduled for completion in the 4th quarter of 2022. Revenue from the sale of the entire project will amount to EUR 4 300 000. This loan will be repaid from the proceeds of the sale of the real estate.
Construction description:
- Foundations: bored piles with reinforced concrete grate.
- The structure: the load-bearing structures of the house - silicate brick masonry, g / b floors are assembled.
- Insulation: the facade is insulated with polystyrene foam 20 cm, the grate is insulated 20 cm.
- Internal walls: partition walls - silicate brick masonry 25 cm (plastered with plaster). The surface of the inner sides of the walls is plaster, not plastered, not painted.
- Internal partitions of apartments: 10 cm double plasterboard partitions. San. node partitions 12 cm silicate brick masonry, walls plastered with cement plaster.
- Slabs and ceilings: prefabricated g / b floor slabs, concrete not sanded, not plastered, not plastered, not painted.
- Floor: equipped with underfloor heating system with reinforced concrete floor.
- Roof: overlapped, covered with waterproofing, parapets are insulated and tinned.
- The facade: a structural decorative plaster of several colors, clinker tiles on the ground floor.
- Balcony: prefabricated g / b balcony panels with stainless steel and tempered glass railings.
Progress of the project:
With the funds raised for the first stage, the owner of the project fully paid for the plot of land and started the construction of the apartment building. At the moment, the soil works have been completed in the project, the foundations have been poured and the walls of the first floor have been erected.
To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors a 93.36 ares plot of land is pledged at Duburio st. 4, Vilnius. According to an independent real estate appraiser, the value of the mortgaged real estate is EUR 1 406 000.
Maximum planned amount of funding for the project: EUR 1 800 000. The project is funded based on the current mortgage valuation until it reaches the maximum LTV set. When maximum LTV is reached, a new valuation of the property will be required and further project funding stages will be announced and collected only if the maximum LTV set is not exceeded. LTV at this stage - 50%.
Interest by investment amount:
- From 100 EUR to 4 999 EUR – 12%
- From 5 000 EUR to 49 999 EUR – 13%
- From 50 000 EUR - 14%
Important: investments made separately are not aggregated.
We plan to raise the amount within 7 days, with the option of extending it to 21 days if we do not raise funds.
About the Profitus
Profitus is a crowdfunding and investment platform whose main goal is to make investment available to everyone. Investments start at 100 euros, and the platform is open 24/7. Investments are secured by pledging real estate and other collateral (e.g., indemnity or warranty). Different projects have different security tools that users can access in self-service for each project.
Profitus consults with the Bank of Lithuania in order to ensure perfect compliance with the law. Monetary operations on the platform are carried out in cooperation with Paysera and Trustly. The risk relating to the project and project owner are assessed on the basis of information provided by Creditinfo.
