Loan for the development of the phased real estate project “Lapino namai” - Phase II. The company is developing a residential quarter.
To protect the interests of investors, 8 land plots (67.95 a) and 2 residential houses (102,57 sq. m ir 120,3 sq. m) are being pledged with a primary mortgage, Dusmenu str., Vilnius. The houses planned to be built on the plots will also be mortgaged to investors. In addition, the developer pledges 3 more plots of land and 2 residential houses under construction with a secondary mortgage. The value of the property pledged as a secondary mortgage is not added to the official value of the pledged property and is not used in the calculation of the LTV indicator.
"Lapino namai" is a new construction project, characterized by the fact that all houses will be of the same architecture, but not the same. The Lapino namai project is being developed in the Vilnius Hills quarter. At present, a rubble road has already been built, water and sewage communications have been laid and connected to the city networks.
Briefly about residential houses under development:
• A unified architecture will prevail throughout the street;
• Robust and environmentally friendly A + block-concrete walls; • High quality natural and durable facade materials;
• Spacious 8-10 acre plots for each house;
• Quiet location - right next to a 37 acre green area with a pond and part of the plots bordering the state land where there is a forest.
Sample houses and their selling prices:
• 102 sq. M. m. the price of the house with the plot, communications and partial finishing - from EUR 127,000 plus the infrastructure of the quarter.
• 120 sq. M. m. the price of the house with a plot, communications and partial finishing - from EUR 148,000 plus the infrastructure of the quarter.
Maximum planned project financing amount: EUR 1,050,000. The project is financed according to the current valuation of the mortgaged property until it reaches the set maximum LTV. 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 of 65% is not exceeded.
We plan to raise the amount within 7 days, with the option of extending it to 21 days if we do not raise funds.
Project visualizations are provided too. More information at www.lapinonamai.lt.
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.
