- Reliable Client: UAB "CITUS" group of companies has successfully implemented over 100,000 m² of residential projects in Vilnius, Kaunas, Druskininkai, and Nida, confirming its reliability and experience in the real estate market.
- A balanced ratio of equity and borrowed funds: The project developer has already invested EUR 5,870,000 of their own funds, which constitutes 39.5% of the total project financing. This ratio ensures optimal risk distribution and strong financial stability.
- Successful Sales Process: Sales of Building B are progressing successfully - approximately 62% (110 units out of 176) of all apartments have already been reserved. The total value of signed contracts amounts to EUR 8,602,116.
About the Project:
A former sanatorium located on Liepu Street in Druskininkai is undergoing a complete transformation. Acquired in 2021, the developer is undertaking an ambitious project to renovate the 19,500 m² building into a modern residential complex. The reconstruction of Building B is nearing completion, with 176 cozy apartments and various commercial spaces already fitted. The project is scheduled for completion in the first quarter of 2025. The renovation of Building A is planned to commence in the third or fourth quarter of 2025, and the entire complex will meet the highest A-class energy efficiency standards.
Loan Information:
The developer seeks to refinance the existing obligation and complete the reconstruction work. Upon project completion, the building will be sold, and the proceeds of EUR 17,011,953 (including VAT) will be used to repay the loan. Interest to investors will be paid from advance payments for apartments and the final sale amount.
We inform you that the Owner of the Financed Project is a legal entity that is indirectly related to one of the participants of the crowdfunding service provider PROFITUS. There are no control relationships between the participant and the Project Owner, as defined in Regulation 2020/1501 of 7 October 2020.
Real Estate Market in Druskininkai:
Druskininkai is a year-round destination for wellness, leisure, an active lifestyle, and unique entertainment. In the Druskininkai municipality, a total of 2,037 buildings and premises were sold between 2020 and 2024. During this period, one and two-apartment houses, apartments, and garages were the most actively bought and sold. In 2023, a decrease in the number of buildings and premises sold in the Druskininkai municipality was recorded in all property categories. In 2023, the most apartments were sold - 159, which is 33.47% less than in 2022, when 239 apartments were transferred. In the Druskininkai municipality in 2023, 17 garden buildings were transferred (19.05% less than in 2022), 49 one or two-apartment residential houses (14.04% more than in 2022), 44 garages (35.29% less than in 2022), 32 dormitory group objects (37.25% less than in 2022), 33 hotels, trade, services and catering objects (29.79% less than in 2022), 4 administrative and medical objects (33.33% less than in 2022), 8 recreation and sports objects (57.89% less than in 2022), and no cultural or scientific objects were sold in 2023.
Maximum Planned Project Financing: EUR 5,000,000. The project is financed based on the current valuation of the collateralized property until it reaches the specified maximum loan-to-value (LTV) ratio. Upon reaching the maximum LTV, a new property valuation will be performed, and further stages of project financing will be announced and collected only if the specified maximum LTV is not exceeded.
Interest by investment amount:
– From EUR 100 to EUR 299 – 8.00%
– From EUR 300 to EUR 999 – 8.50%
– From EUR 1 000 to EUR 7 499 – 9.00%
– From EUR 7 500 to EUR 24 999 – 9.50%
– From EUR 25 000 to EUR 99 999 – 10.00%
– From EUR 100 000 to EUR 249 999 – 10.50%
– From EUR 250 000 to EUR 499 999 – 11.00%
– From EUR 500 000 – 11.50%
Important: investments made separately are not aggregated and cannot be pooled.
We plan to raise the amount within 7 days, with the option of extending it to 30 days if we do not raise funds.
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.
