We present the third stage of the phased financing project "LOFT206". The funds raised will be used for the development of a real estate project. The amount to be raised at this stage is EUR 64 000. This loan will be repaid by the company's operating income and real estate sales.
About the project owner:
The project owner has experience in real estate development. Implemented 6 different construction projects with a total area of 4 080 square meters.
The aim of the project:
The owner of the project will use the collected amount for the installation of the remaining premises and the purchase of furniture. 56 separate lofts have been formed in the premises, 28 of which have already been sold. Out of the remaining part of the lofts, another 10 units are planned to be sold, the sales value of which is planned to be about 480,000 euros, and the owner of the project plans to keep and rent the remaining part of the remaining lofts (18 units). The area of each loft is about 30 square meters. Lofts are sold with partial finishing or fully furnished with EUR 1 200 - 2 000 per square meter. Proceeds from the sale of the entire project will amount to EUR 2 560 000.
Progress of the project:
For the first stages, final payments were made to the seller for the pledged premises and the installation of the attics sold.
To secure the interests of investors, real estate is pledged with a primary mortgage:
To protect the interests of investors, 8 creative workshops (lofts) with a total area of 196.4 square meters are pledged at Savanoriu Avenue 206B-206, 208, 209, 227, 304, 305, 306, 309, Kaunas. According to an independent real estate appraisal, the value of real estate pledged to investors is EUR 458 000.
Maximum planned amount of funding for the project: EUR 378 000. 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.
Interest by investment amount:
- From 100 EUR to 499 EUR – 9,5%
- From 500 EUR to 999 EUR – 10%
- From 1 000 EUR – 10,5%
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.
