We present the new stage of the phased financing project – „Pasiles namai XIV". The owner of the project will use the pooled amount for real estate development. The amount to be raised is EUR 101 500.
About the project owner:
The developer has a lot of experience, having developed about 4 thousand square meters (as a manager) and about 6 thousand square meters of real estate projects under the company's name. The developer developing the project previously received financing on the Profitus platform and implemented as many as 9 real estate projects. Projects were successfully completed, and investors were settled on time.
About the project:
The owner of the project is developing the construction of 9 two-apartment houses, for a total of 18 apartments. Apartments in two–room houses will have an area of 92-93 square meters, an A++ energy class, and one floor. Each apartment will own a 5-acre plot of land. Semi-detached houses will be sold partially furnished. The planned sales revenue for the entire project is about EUR 3 800 000.
Project progress:
According to the data of the Centre of Registers, the registered completeness of the apartments is 87%. The apartments are sold with partial or full finishing. 2 apartments have already been sold. Preliminary sale and purchase contracts have been signed with 4 buyers. The estimated sales revenue is EUR 1 020 000 including VAT.
The maximum financed amount is EUR 2 500 000 (EUR 1 788 250.16 Existing active portfolio). The project is financed according to the current valuation of the mortgaged property until it reaches the set maximum LTV of 70%. Once the maximum LTV is reached, a new valuation of the property will have to be carried out, and the further stages of financing the project will be announced and collected only if the set maximum LTV is not exceeded. The loan-to-value ratio (LTV) with VAT at this stage is 63%.
Interest by investment amount:
– From EUR 100 to EUR 499 – 10%
– From EUR 500 to EUR 1 499 – 10.5%
– From EUR 1 500 to EUR 4 999 – 11%
– From EUR 5 000 to EUR 9 999 – 11.5%
– From EUR 10 000 – 12%
Important: Individual investments 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.
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.
