- Prestigious location: The Gediminas street in Palanga is one of the most prestigious places in the city. The address on this street gives the property additional value and prestige.
- Unique design: The facades and roof of the building are decorated with handmade Danish bricks and tiles reminiscent of the texture of pine bark, while the ground floor facade is decorated with stylish Belgian aluminium panels. This gives the building a distinctive, natural and elegant look.
- Privacy: The building has only eight unique apartments, each with its own underground parking and storage space.
- Just 300 metres to the sea: Just a few hundred metres away is the beautiful beach of Palanga.
About the project owner:
The project owner has successfully completed 3 real estate projects in Kaunas and Palanga - "Betonuotoju st. 4, Kaunas", "Gedimino st. 2, Palanga", "Gedimino st. 4a, Kaunas". The total area of these projects is approximately 4 000 m².
About the project:
"Gedimino 2" is a luxury apartment building in a prestigious part of the city of Palanga, at the intersection of Gedimino st. and Birute Alley. The project has 8 apartments in total, with underground parking and storage rooms. Special attention is paid to well-being, and in order to ensure the maximum privacy of the apartment residents, roller coasters, higher and denser vegetation, corten strip fence, paths, fountains, exclusive lighting, security systems, and others are formed. The holiday apartments are built using the highest quality materials, characterized by durability, resistance, and ecology. The apartments will be furnished with partial finishing and sold with an estimated sales revenue of EUR 1 240 000.
Project progress:
The funds raised during this phase will be used to fully settle the Phase I investors. Although the process of selling the property took longer than planned, the project is now successfully completed - the landscaping around the building is landscaped, and the partially finished apartments are registered as 85% complete.
The maximum planned amount of Project financing: EUR 1 560 000 (EUR 753 900 already raised). 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 70% 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 100 EUR to 249 EUR – 9.50%
– From 250 EUR to 499 EUR – 10.00%
– From 500 EUR to 2 499 EUR – 10.50%
– From 2 500 EUR to 9 999 EUR – 11.00%
– From 10 000 EUR – 11.50%
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 30 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.
