We present the thirteenth stage of the phased financing project - ,,Antakalnio ritmas“. The funds of this stage will be used for the refinancing and for the real estate development. The amount to be raised at this stage is EUR 257 000.
About the project:
"Antakalnio ritmas" is a new residential quarter in Vilnius, in the newly developing district Naujasis Antakalnis, designed with active people in mind, family privacy and tranquility surrounded by nature.
The aim of the project:
The project owner is developing a 20-apartment, 4-storey apartment building in Vilnius, Duburio Street. The total area of apartments is 1 335.44 square meters. Upon completion of construction, the apartments will be sold. The planned income from the sale of all apartments is EUR 2 886 000.
Progress of the project:
From the first stage of financing, the owner of the project completed the masonry works of the apartment building and registered it with the raised and his own invested funds. They also covered the roof, installed windows, installed the electrical installation, and finished the facade work. The underfloor heating system has been installed on all floors, concrete floors have been poured, and all communications have been connected. Water supply and sewage systems are installed. Finished partial finishing works. Currently, notarial sales of apartments have already started. At the moment, 2 apartments have been sold, preliminary contracts have been signed for two more, and notarization will be done in September.
To secure the interests of investors, real estate is pledged with a primary mortgage:
To protect the interests of investors, 18 apartments and a part of the plot of land with an area of 26.5 ares are pledged, at Duburio st. 10, Vilnius. According to an independent real estate appraisal, the value of real estate pledged to investors is EUR 2 602 000.
Maximum planned amount of funding for the project: EUR 1 600 000. 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 is 50%.
Interest by investment amount:
- From 100 EUR to 999 EUR – 9%
- From 1 000 EUR to 4 999 EUR – 9.5%
- From 5 000 EUR to 9 999 EUR – 10%
- From 10 000 EUR to 29 999 EUR – 10.5%
- From 30 000 EUR to 49 999 EUR – 11.5%
- From 50 000 EUR – 12.5%
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.
