We present a new phased financing project - "Vakaro aleja VI". The raised funds will be used for the development of real estate. The amount to be raised at this stage is EUR 100 000.
The aim of the project:
The project owner will allocate the raised amount forr the construction of a four-story, 3 383 square meter, 60-apartment building in Palanga. The apartments will have an area of 22-71 square meters. At the moment, the project has raised two-story walls. Apartments will be sales. The planned sales revenue of the entire project is EUR 5 358 000.
Progress of the project:
After the fifth phase, the 4th floor is now complete: the transoms have been built, the corridor slabs have been installed, the triangles have been monolithised and the roof supports have been fully installed. The roofing work will start next, followed by the registration of the flats with the Registry Centre.
To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors, an apartment house under development with an area of 3 383 square meters and a plot of land with an area of 45.86 acres are pledged at the address Pavasario st. 6, Palanga. According to an independent real estate appraiser, the value of the property pledged to investors is EUR 1 710 000.
Maximum planned amount of funding for the project: EUR 2 200 000. 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 – 10.5%
- From 500 EUR to 1 999 EUR – 11%
- From 2 000 EUR to 3 999 EUR – 11.5%
- From 4 000 EUR to 7 999 EUR – 12%
- From 8 000 EUR – 12.5%
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.
