• The owner of the project intends to purchase a building - a guest house with 60 lofts, furnished with modern appliances and furniture. Once these works are completed, the lofts will be sold;
• The estimated proceeds from the sale of the 60 lofts will amount to EUR 4 168 217;
• The existing exterior façade will remain intact in order to maintain the authenticity of the building, but the developer will carry out an aesthetic treatment of the exterior and interior of the walls;
• The development is located in the New Town. Naujamiestis remains one of the most popular districts for new construction and conversion projects;
• The shareholders of the company have experience in apartment reconstruction projects. Over 30 projects have been financed on the Profitus platform and have been successfully completed with investors settled on time;
• The full amount of the loan is guaranteed by MB Insta projektai. More about the guarantor company here.

About the project owner:
The company's shareholders have redeveloped 120 apartments in Vilnius, with a total developed project area of 6 000 sq. m. A new company has been set up for this project, but the full amount of the loan is guaranteed by MB Insta projektai, an innovative real estate development company based in Vilnius.

About the project:
The developer intends to acquire a building of 2 037.45 sq. m (guest house with ground lease). The owner of the project will convert the purchased premises into 60 lofts, fully finished and sell them. This loan will be reimbursed from the proceeds of the sale of the project to be developed and interest will be paid to the investors from the project owner's operating income.

The building is scheduled to be renovated:

• Painting of exterior and interior walls;
• Tiling of floors;
• Renovation of ceiling finishes and lighting;
• Electricity to each loft with separate electricity meters;
• Ventilation system installed;
• Window insulation upgraded;
• Roof sealing works carried out;
• Maintained communal and zoned parking for residents.

Competitive environment:
Naujamiestis remains one of the most popular districts for new construction and conversion projects. The recently opened business centres are home to Vinted, Nord Security, Tesonet and other IT technology companies, whose employees are not only from Lithuania. Seeing the demand for rental housing, new apartment buildings are being built in the district (sales prices EUR 2 900/4 750/sq. m) and old factories and administrative premises are being converted (sales prices EUR 1 850/2 300/sq. m).

The maximum financed amount: EUR 2 100 000. The project is financed on the basis of the current valuation of the collateral until it reaches the established maximum loan-to-value ratio of 75% LTV. Once the maximum LTV has been reached, a new valuation of the property will have to be carried out and further rounds of financing for the Project will only be advertised and collected if the set maximum LTV is not exceeded.

Interest by investment amount:
– From EUR 100 to EUR 299 – 9.0%
– From EUR 300 to EUR 749 – 9.50%
– From EUR 750 to EUR 1 999 – 10.0%
– From EUR 2 000 to EUR 7 499 – 10.50%
– From EUR 7 500 to EUR 14 999 – 11.0%
– From EUR 15 000 to EUR 24 999 – 11.50%
– From EUR 25 000 to EUR 49 999  – 12.0%
– From EUR 50 000 to EUR 99 999  – 12.50%
– From EUR 100 000 – 13.0%
Important: investments made separately are not aggregated and cannot be pooled.

We plan to raise the amount within 7 days, with the option of extending it to 21 days if we do not raise funds.