We present the third stage of the stage financing project "Darzelis Kauno raj.". The funds of the third stage will be used to continue construction work. After this financing stage, when the project reaches the maximum possible LTV - 70%, a new real estate appraisal will be performed.
The project is developing rapidly - after the first two stages of funding, about 90 percent of roofing works, plumbing on the ground floor and concrete floors. Ducts have been installed throughout the building, field engineering networks have been installed, plastering and welfare management works have been started.
The project owner is building a 1947.27 sqm of kindergarten in the Kaunas district. A 5-year lease agreement has already been signed with the tenant of the building, with the possibility of extending it for another 5 years. The registered completion of the building is 40%, cadastral measurements were made on 02/04/2021. The construction is expected to be completed in 2021. October. Once the construction work is completed and the kindergarten is rented, the project owner intends to refinance this loan with another financial institution.
In order to protect the interests of investors, an 87.93 acres plot of land is pledged and a building-kindergarten is being built in it, in Kaunas district municipality, Garliava district, Jonuciu village, Slenio str. 25. According to an independent real estate appraiser, the value of the pledged real estate to investors is EUR 617 000. The pledged real estate is under development, so the value of the pledged property is constantly increasing.
The maximum amount to be financed is EUR 1 500 000. The project is financed according to the current valuation of the mortgaged property until it reaches the set maximum LTV - 70%. Once the maximum LTV is reached, a new valuation of the property will have to be performed and further stages of the Project financing will be announced and collected only if the set maximum LTV is not exceeded. The loan-to-value ratio (LTV) at this stage is 70%.
Interest by investment amount:
- From EUR 100 to EUR 999 - 8,5%
- From EUR 1 000 to EUR 4 999 - 9%
- From EUR 5 000 to EUR 24 999 - 9,5%
- From EUR 25 000 - 10%
Important: investments madeseparately 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.
