We present new phase of phased financing project - "Pazaislio namai IV". The raised funds will be used for the development of real estate. The amount to be raised at this stage is EUR 49 900.
About the project owner:
The owner of the project has the status of a reliable real estate developer and together with PROFITUS developed the project "Pazaislio apartamentai", the investments of which have already been returned to the investors. His other project "Gedimino 2" in Palanga is also being developed together with PROFITUS. Investors in all stages of this project are paid interest on time. Individual real estate units-apartments have already been registered in the project and notarized sales contracts are being signed, investments are already being returned.
The aim of the project:
The owner of the project is building a 1 323-square-meter apartment building with an underground parking lot on a 23.48-acre plot of land (adjacent to his developed project "Pazaislio apartamentai"). A total of 24 apartments will be formed in the apartment building, the areas of which will be 34-63 square meters. The construction permit has already been obtained for the project. Construction work has started - the foundations of the apartment building, which have not yet been registered in the registry center, have been poured. The apartments are planned to be sold with partial decoration. The income from the sale of all apartments, parking spaces and storage rooms will amount to EUR 2 400 000.
Progress of the project:
At the beginning of August, 25% completion of the building was registered in the Registry Center, 2 apartments are reserved. Outdoor networks are installed: water supply, sewage and drainage. The construction of the 2nd floor was completed in September and the 3rd floor is being bricked. Stairs and balconies have been installed. Underground utilities (except for district heating) are in place.
To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors, a part of the land plot with an area of 23.48 acres and apartment building with area of 486.34 square meters are pledged at Betonuotoju st. 4, Kaunas. According to an independent real estate appraiser, the value of real estate pledged to investors is EUR 653 400.
Maximum planned amount of funding for the project: EUR 1 300 000. 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. LTV at this stage - 59%.
Interest by investment amount:
- From 100 EUR to 499 EUR – 8,5%
- From 500 EUR to 2 499 EUR – 9%
- From 2 500 EUR to 4 999 EUR – 9,5%
- From 5 000 EUR – 10%
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.
