Introducing the new phase financing project – „Ryto namai IV". The owner of the project will use the amount raised to refinance an existing loan. The developer has obtained the necessary documents from Vilnius City Municipality for the assignment of the apartments' unique numbers in order to start disposing of them. Currently, preliminary sale and purchase agreements have been signed for a total amount of EUR 920 355. The amount to be collected at this stage is EUR 500 000.
About the project owner:
The project owner has 18 years of experience in property development. 18 years of experience as a real estate developer and construction contractor (two apartment buildings at 67A Didlaukio Street and 36 Seliu Street, Vilnius, Melisu namai, a block of 10 houses, Lindiniskiu namai, a block of 14 houses, Sofijos Gulevic namai, a block of 12 houses), with a total area of 100 000 square metres.
The aim of the project:
The project owner has purchased a 0.9336 hectare plot of land with the funds raised in the first phase, for which planning permission has been granted. The plot of land is being developed for 1 952 square metre, A+ energy class apartment building with 30 apartments. The apartments will be available for sale upon completion of the construction works. The estimated sales revenue is EUR 4 000 000 with VAT.
Project progress:
Since the first financing phase, work has been carried out on the installation of heating, ventilation and air conditioning systems, plastered the apartments, finished the concrete floors, bought all the gas boilers, installed the armoured doors, and insulated the façade. Interior finishing works have started. According to the data of the Centre of Registers, the registered completion of the apartment is 90%.
Maximum planned amount of funding for the project: EUR 1 500 000 (EUR 1 117 000 already raised). 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. The loan-to-value ratio (LTV) without VAT at this stage is 41%.
Interest by investment amount:
– From 100 EUR to 999 EUR – 10%
– From 1 000 EUR to 4 999 EUR – 10.5%
– From 5 000 EUR to 9 999 EUR – 11%
– From 10 000 EUR to 24 999 EUR – 11.5%
– From 25 000 EUR – 12%
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.
