- Developer Experience: The project developer, together with partners, has been active in the real estate sector for over a decade and has developed residential projects with a total area exceeding 2,000 m².
- Equity Contribution: 180,000 EUR of own funds have already been invested into the project, accounting for 60% of the total planned budget.
- Construction Progress: The project is in an advanced stage – major construction works have been completed and the current actual completion rate is 53%.
About the Project:
The project owner has acquired a 15 ares land plot at Upės St. 12, Vilnius district, where a semi-detached residential house is currently under construction. The project foresees two apartments, with each apartment measuring 123.99 m² and 123.94 m², respectively. According to the Centre of Registers, the current official completion rate is 48%, while an independent expert estimates actual progress at 53%.
The funds raised will be allocated to complete construction works until reaching 80–85% completion, corresponding to the partial finish stage. At this stage, both units are planned to be sold on the market. The expected total revenue from apartment sales amounts to 389,250 EUR (excluding VAT), or approximately 1,570 EUR per m². The project targets the residential real estate segment, which is characterized by steady demand and growing interest in the Vilnius district.
Loan Information:
The loan will be repaid from apartment sale revenues, while interest payments to investors will be covered by advance payments received or operational income.
The maximum planned financing amount for the project is 240,000 EUR. The project is funded based on the current valuation of the mortgaged property, up to the maximum allowed Loan-to-Value (LTV) ratio. If the maximum LTV is reached, a new property valuation will be required, and further financing stages will be announced only if the LTV remains within the permitted limit.
The funding round is planned to be completed within 7 days, with a possible extension to up to 30 days if the target amount is not reached.
About the Profitus
Profitus is a crowdfunding and investment platform with a minimum investment of 100 euros. Profitus investments are secured by real estate mortgages, Your investment is secured by a first or second mortgage on the property, as well as by other collateral (e.g. a surety or guarantee). Transactions are managed through Lemonway, a regulated payment service provider.
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. Profitus operates with Lemonway, a regulated payment service provider.
