Loan for the development of the phase of the real estate project “Lapino namai". The company is developing a residential quarter, the amount raised at this stage is 59 500 euros.
Project owner:
The project owner is developing a newly built residential quarter in Lentvaris, Vilnius district, Dusmenu street. The new quarter is being built with all the necessary communications and an asphalt road. The owner of the project is well acquainted with the surroundings of Lentvaris and has developed a similar type of residential project there and has accumulated a lot of valuable experience in developing residential projects. The project owner has the status of a reliable entrepreneur - the project is rapidly developing and loans are repaid on time.
Progress of the project:
"Lapino namai" is a new construction project, which is characterized by the fact that all houses will be of the same architecture, but not the same. "Lapino namai" project is being developed in the Vilnius Hills quarter. After the second stage of project financing, three more houses were built in the project - Dusmenu str. 49 and 51 (property pledged as a primary mortgage) and Dusmenu str. 65 (property pledged as a subordinated mortgage). There is a rubble road in the project, water supply and sewage communications are connected and connected to the city networks.
To secure the interests of investors, real estate is pledged with a primary mortgage:
As a security measure, investors are pledged 4 land plots (in total - 67.95 a) and 4 residential houses under construction in Dusmenu str., Vilnius. The houses planned to be built on the plots will also be mortgaged to investors. According to an appraisal by "Ober-Haus", an independent real estate appraiser, the value of the mortgaged property was EUR 447 700.
Project features:
• 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.
Houses under construction and their sale prices:
• 102 sq. M. m. the price of the house with the plot, communications and partial finishing - from 127,000 EUR plus the infrastructure of the quarter.
• 120 sq. M. m. house price with the plot, communications and partial finishing - from 148,000 EUR plus the infrastructure of the quarter.
The maximum planned amount of project financing: 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. LTV at this stage - 57%.
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 also provided. More information here.
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.
