We present the new stage of staged financing project –  „Butai Antakalnio ritme III". The project owner will use the funds to refinance the existing loan and for working capital. The total duration of the project development is envisaged at 24 months. The developer has financed the loan in short term phases, so this decision will give the developer time to arrange the sale of the remaining apartments. The amount to be raised is EUR 993 000.

About the project owner: 
The developer has extensive experience, having developed approximately 840 square metres (as a manager) and, on behalf of the company, approximately 2 840 square metres of real estate projects. The developer has previously obtained financing on the Profitus platform and is developing the project „Antakalnio ritmas", with timely interest payments to investors.

About the project:
The project owner has developed a four-storey apartment building with a total of 20 apartments and a total floor area of 1 335.44 square metres. According to the data of the Centre of Registers, the registered completion of the apartment building is 86%. 4 apartments have already been sold. The completion of the apartment building is planned to be 100% by the end of this year. The estimated sales price for the remaining apartments is EUR 2 440 000. This loan will be covered by the sale proceeds.

Maximum planned amount of funding for the project: EUR 1 519 000 (EUR 394 000 already raised). The project is financed according to the current valuation of the mortgaged property until it reaches the set maximum LTV of 70%. 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) with VAT at this stage is 60%.

Risk category (probability of default) of this project: 9.

Interest by investment amount:
– From EUR 100 to EUR 999 – 10.5%
– From EUR 1 000 to EUR 4 999 – 11%
– From EUR 5 000 to EUR 24 999 – 11.5%
– From EUR 25 000 to EUR 49 999 – 12%
– From EUR 50 000 to EUR 99 999 – 12.5%
– From EUR 100 000 – 13%
Important: investments made separately are not aggregated 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.