- Experience: Developer has successfully completed 11 house construction projects in Vilnius and Palanga since 2020, with a total developed area of nearly 1 600 m2.
- Peaceful and Safe Neighborhood: Pagiriai is a rapidly developing area while retaining the tranquility of its natural surroundings. Here, you can enjoy peace, clean air, and a safe environment.
- Newly Developed Neighborhood: All streets and utilities are newly constructed, and the plots are suitable for building homes of various sizes and styles.
- Increased Liquidity: To enhance plot demand and sales price, the project owner will subdivide the mortgageable plots into twice the number of plots.
Project Rating (Project Loss Risk): A. This rating is consistent with the previous project rating of B-.
About the project owner:
The project owner has developed different real estate projects (11 houses - Spanguoliu st., Vilnius, Zemaiciu Alkos st., Palanga).
Project objective:
The project owner has acquired plots of land totalling 0.6033 ha on which he is developing four semi-detached houses. Each apartment in the semi-detached house will be 95 m2. The houses will be sold with partial or full finishes. The estimated sales proceeds of the duplexes are around EUR 1 710 000 including VAT. This loan will be repaid from the proceeds of the sale and the interest will be paid to the investors from the operating income of the project owner.
Project progress:
This phase will be used to refinance the existing loan, as the land subdivision process has been delayed and refinancing is needed to pay off the phase II and III investors. The developer has already invested EUR 90 000 of its own money to buy the plots, improve the infrastructure and pour the foundations. The foundations for the residential houses have now been poured. In the near future, the owner of the project plans to subdivide the 4 plots of land into 8 property units.
Maximum amount to be financed: EUR 600 000 (EUR 174 700 already raised). The project is financed on the basis of the current valuation of the collateral until it reaches the established maximum loan-to-value ratio of 70% LTV. Once the maximum LTV has been reached, a new valuation of the property will have to be carried out and further rounds of financing for the Project will only be advertised and collected if the set maximum LTV is not exceeded.
Interest based on the size of the investment:
– From EUR 100 to EUR 249 – 9.50%
– From EUR 250 to EUR 599 – 10.00%
– From EUR 600 to EUR 1 999 – 10.50%
– From EUR 2 000 to EUR 6 999 – 11.00%
– From EUR 7 000 – 11.50%
Important: Individual investments are not aggregated and cannot be pooled.
We plan to raise the amount within 7 days, with the possibility of an extension to 21 days if the funds are not raised.
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.
