We present a new financing project – „Butai Antakalnio ritme". TThe project owner will use the funds to refinance the existing loan and for working capital. The total duration of the project development is envisaged at 24 months. The developer has financed the loan in short term phases, so this decision will give the developer time to arrange the sale of the remaining apartments. The amount to be raised is EUR 322 000.
About the project owner:
The developer has extensive experience, having developed approximately 840 square metres (as a manager) and, on behalf of the company, approximately 2 840 square metres of real estate projects. The developer has previously obtained financing on the Profitus platform and is developing the project „Antakalnio ritmas", with timely interest payments to investors.
About the project:
The project owner has developed a four-storey apartment building with a total of 20 apartments and a total floor area of 1,335.44 square metres. According to the data of the Centre of Registers, the registered completion of the apartment building is 86%. 4 apartments have already been sold. The completion of the apartment building is planned to be 100% by the end of this year. The estimated sales price for the remaining apartments is EUR 2 440 000. This loan will be covered by the sale proceeds.
Maximum planned amount of funding for the project: EUR 1 519 000. 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. The loan-to-value (LTV) with VAT at this stage is 14%.
Interest by investment amount:
– From 100 EUR to 499 EUR – 10%
– From 500 EUR to 999 EUR – 10.5%
– From 1 000 EUR to 4 999 EUR – 11%
– From 5 000 EUR – 11.5%
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.
