We present the new stage of the phased financing project – „Basanaviciaus patalpos IV". The owner of the project will use the pooled amount to develop the property and refinance the existing loan. The total development period of the project is envisaged to be 36 months. The project commenced development in October 2022 and is on schedule. Part of the funds mobilised for the fourth phase were earmarked for the refinancing of the balance of the second phase loan. The amount to be raised is EUR 45 700.
About the project owner:
The project owner has experience in real estate development. The owner has experience in construction of 7 different construction projects with a total area of 6 400 square metres. The developer has financed 7 projects on the Profitus platform („LOFT206", „Basanaviciaus patalpos", „Elniu namas Viciunuose", „Butas Sodu G66-33“, „Butas Vaidoto G192A–2“, „Paslaugu patalpos Basanaviciaus al.“, „Butas Vaidoto G192E–2“). Investors are paid interest on time. Has already repaid part of the funds in projects „LOFT206“ and „Basanaviciaus patalpos“ and reimbursement of all funds in projects „Butas Sodu G66–33" and „Butas Vaidoto G192A–2“.
Project objective:
The owner of the project is developing 453 square metre of service premises in Kaunas, close to Topo centre. Upon completion of the renovation works, the premises will be leased or sold. The projected rental income is EUR 8 000 per month and sales income is EUR 800 000.
Project progress:
The developer has already invested EUR 100 000 in the project. With the funds raised in previous phases, the project owner replaced the building's structure, installed slabs and raised ceilings, as well as carried out all the necessary demolition work and started the insulation of the exterior facade. The project owner will use the funds raised to concreting the floors, installing internal partitions, installing electricity, underfloor heating and lighting, and to continue the insulation of the external facade.
The maximum financed amount is EUR 400 000 (EUR 179 902 already raised, of which EUR 121 302 will be returned to investors following the refinancing of the balance of Phase II). The project is financed according to the current valuation of the mortgaged property until it reaches the set maximum LTV. Once the maximum LTV is reached, a new valuation of the property will have to be carried out, and the further stages of financing the project will be announced and collected only if the set maximum LTV is not exceeded. The loan-to-value ratio (LTV) without VAT at this stage is 70%.
Interest by investment amount:
– From EUR 100 to EUR 499 – 11%
– From EUR 500 to EUR 999 – 11.5%
– From EUR 1 000 to EUR 1 999 – 11.75%
– From EUR 2 000 – 12%
Important: individual investments are not cumulative and cannot be pooled.
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 est une plateforme de crowdfunding et d’investissement avec un investissement minimum de 100 euros. Les investissements Profitus sont garantis par des hypothèques immobilières. Votre investissement est sécurisé par une première ou une deuxième hypothèque sur la propriété, ainsi que par d’autres garanties (par exemple, une caution ou une garantie). Les transactions sont gérées par Lemonway, un fournisseur de services de paiement réglementé.
Profitus est une plateforme de crowdfunding et d’investissement dont le principal objectif est de rendre l’investissement accessible à tous. Les investissements commencent à 100 euros, et la plateforme est ouverte 24/7. Les investissements sont garantis par la mise en gage de biens immobiliers et d’autres garanties (par exemple, une indemnité ou une garantie). Différents projets ont différents outils de sécurité auxquels les utilisateurs peuvent accéder en libre-service pour chaque projet.
Profitus consulte la Banque de Lituanie afin d’assurer une conformité parfaite avec la loi. Profitus fonctionne avec Lemonway, un fournisseur de services de paiement réglementé.
