- Developer’s Experience: The project is being implemented by an experienced developer who, together with affiliated companies, has completed 4 real estate projects. The building has been designed by one of the strongest architectural studios in Lithuania – UAB "Archispektras" – and high-quality, long-lasting materials are being used in the construction.
- Exceptional Location: The project is being developed just 800 meters from Kaunas Old Town Town Hall Square, next to the Benedictine Sisters Monastery. Convenient access – the nearest public transportation stop is only 60 meters away.
- Sale: A preliminary purchase-sale agreement has already been signed, and an advance payment has been made.
- Significant equity contribution: The project owner has already invested a significant equity amount into the project – EUR 914,223, which constitutes nearly 68% of the total project costs.
About the Project:
The project owner is continuing the construction of two semi-detached residential houses located at Pakopų takas 7, Kaunas. The construction permit was issued in January 2022. Construction has progressed rapidly – both semi-detached houses have been built and are nearly finished to partial completion.
The remaining work in the project includes completing landscaping works (paving installation, fencing, outdoor lighting, landscaping, waterproofing and tiling between the two houses, stair and balcony railings, insulation and finishing of the parking area), as well as finishing interior works (engineering, plastering, electrical installation, etc.).
At this stage, the funds being raised will be used to refinance the existing PROFITUS loan, as the planned property sale did not take place on time.
Loan Information:
This loan will be repaid from the proceeds of the developed property, which are expected to reach 1,476,686 EUR. Interest to investors will be paid from advance payments.
Maximum financed amount: 250,000 EUR. The project is being financed according to the current appraised value of the pledged property, until the set maximum loan-to-value (LTV) ratio is reached. Once the maximum LTV is reached, a new property valuation must be conducted, and further financing stages will only be announced and raised if the maximum LTV is not exceeded. The targeted amount is planned to be raised within 7 days, with the option to extend up to 30 days if the funds are not fully collected.
About the Profitus
Profitus is a crowdfunding and investment platform with a minimum investment of 100 euros. Profitus investments are secured by real estate mortgages, Your investment is secured by a first or second mortgage on the property, as well as by other collateral (e.g. a surety or guarantee). Transactions are managed through Lemonway, a regulated payment service provider.
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. Profitus operates with Lemonway, a regulated payment service provider.
