We present the eleventh stage of the phased financing project "Link Ten". A new apartment building project is being developed in Vilnius, Linkmenu Street. The funds of the eleventh stage will be allocated for the development of the project, the amount to be raised is EUR 200 000. The project is being developed by one of the largest real estate development companies in Lithuania - "Citus".
About project:
"Link Ten" project consists of 2 apartment buildings with a total of 114, 31-83 square meters area of apartments with individual 6-31 sq.m. courtyards on the ground floors. The upper floors will also be designed spacious, 14-66 sq.m. area terraces. There will be 120 parking spaces and 45 parking spaces in the underground parking lot and bicycle storage. On the first floor of the apartment building will be installed 9, 31-55 sq. m of commercial premises, which will house businesses providing essential services. Apartment prices start from 2 455 euros per sq. m. Part of the assets (99 apartments, 9 commercial premises, parking spaces and bicycle storages) are already reserved, the value of reservations is EUR 14,49 million.
Progress of the project:
At present, the installation of garage walls and columns and ceilings have been carried out in both buildings. The walls of the last floors have been built in the apartment buildings, most of the balconies have been installed. Almost all windows are housed in one building.
To secure the interests of investors, real estate is pledged with a primary mortgage:
To protect the interests of investors, a 44,57 acres plot of land in Vilnius is being pledged - Linkmenu str. 19. According to an independent real estate appraiser, the value of the mortgaged property is EUR 5 069 900. The plot on which the apartment buildings are being built has a building permit.
The maximum amount financed is EUR 6 000 000. The project is financed according to the current valuation of the mortgaged property until it reaches the set maximum LTV - 70%. Once the maximum LTV is reached, a new valuation of the property will have to be performed and further stages of the Project financing will be announced and collected only if the set maximum LTV is not exceeded. The loan-to-value ratio (LTV) in this phase 26%.
In order to operate transparently and honestly, we would like to inform you that the investment company UAB Victory Development II for closed-ended informed investors is one of the members of the Citus group of companies, whose shareholders are also the shareholders of UAB Sutelktinio financing platform Profitus. We draw your attention to the fact that the project developer is directly related to UAB Sutelktinio financing platform Profitus. We confirm that the financing of the project is carried out in accordance with the principles of transparency, impartiality, openness and equality.
Interest by investment amount:
- From EUR 100 to EUR 499 - 8%
- From EUR 500 to EUR 4 999 - 8,5%
- From EUR 5 000 - 9%
Important: investments made separately are not aggregated.
We plan to collect the accumulated amount within 7 days with the possibility to extend it to 21 days without raising 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.
