We present the seventh phase of the new phased financing project "Faustinos namai". The raised funds will be used for the further development of the reale estate project. The amount to be raised at this stage is EUR 52 000.

The aim of the project:
The owner of the project is developing the 15-apartment closed project "Faustina's House". In the first phase of construction, 3 semi-detached houses and 1 single-family house are being built. On the Profitus platform, the project owner finances the first stage of construction by pledging 4 plots of land with building permits where the project is being developed. The total buildable area of the first phase is 695.75 square metres, with apartment sizes ranging from 95 to 114 square metres, an average estimated selling price of EUR 1 550 per square metre, and a total projected sales revenue of EUR 1 090 000. More about the project here.

Progress of the project:
Currently the houses under construction on the land plots of Šv. Faustinos g. 13B and 13F are already registered, and according to the data of the Centre of Registers, the houses are 48% complete. The façade of the house at 13B St. Faustina Street has been insulated and plastered, the floor inside has been concreted, the roof has been insulated and the walls have been plastered. Almost partial finishing has been achieved. The house at 13F Faustinos Street has been roofed and tiled, windows and doors installed, floors concreted and the premises are being prepared for partial finishing. In 13E on Faustina, the brickwork, windows and doors have been completed, the roof structure has been coveredand according to the data of the Centre of Registers, the houses are 51% complete. The foundations have been poured on plot 13G. 

To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors, four plots of land with a total area of 41 acres are pledged at Sv. Faustina street, Skaidiskiu village, Vilnius district. Houses under construction that are not yet registered are mortgaged with an additional conditional mortgage. Once the home is registered, it will be secured by a primary mortgage. According to an independent real estate appraiser, the value of the property pledged to investors is EUR 699 000.

Maximum planned amount of funding for the project: EUR 700 000. 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.

Interest by investment amount:
- From 100 EUR to 499 EUR – 9%
- From 500 EUR to 999 EUR – 9.5%
- From 1 000 EUR to 2 499 EUR – 10%
- From 2 500 EUR to 4 999 EUR – 10.5%
- From 5 000 EUR – 11%
Important: investments made separately 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.