We present the second stage of the stage financing project "Radastu namai". The funds of this stage will be used for the acquisition of a plot of land. The total price of the purchased land plot is EUR 290 000. The project "Radastu namai" will be developed on this land plot. The amount to be collected in the second phase is EUR 198 500.
The project owner is buying a 339.19-acre plot, which will be subdivided into plots and a residential quarter will be built. The quarter will consist of one-bedroom and two-apartment houses, it is estimated that the total block of houses will consist of 56 apartments, the area of each apartment will reach about 120 square meters. Infrastructure will be developed in the newly built quarter - asphalt will be laid, street lighting poles and green areas will be installed. The project will be developed in stages, during the first stage it is planned to start the construction of 6-10 two-bedroom houses. The estimated selling price with partial finishing per square meter starts at EUR 1,250. The project developer has experience in developing real estate projects of a similar nature - he has developed more than 2 000 square meters projects.
Currently, the underground relocation of power lines is underway, the soil is being transported and the plot is being compared. The connection project to the city is also being coordinated. The municipality approved the separation of plots.
To protect the interests of investors, an administrative building and two land plots are pledged in Kaunas district municipality, Uzliedziai eldership, Giraite village. The 339.19-acre land plot is located at Radastu str. 11 and Kastonu st. 56. The area of the land plot is 17.23 acres and the registered completion of the 1005.29 square meters administrative building is 74%. According to an independent real estate appraiser, the value of the mortgaged property is EUR 886 000.
The maximum amount funded is EUR 3 500 000. 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) at this stage is 44%.
Interest by investment amount:
- From EUR 100 to EUR 499 - 7,5%
- EUR 500 to EUR 2 499 - 8%
- From EUR 2 500 to EUR 4 999 - 8,5%
- EUR 5 000 to EUR 9 999 - 9%
- From EUR 10 000 - 9,5%
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.
