Phase III of the financing project “Palepes rekonstrukcija Kauno centre”. The raised funds will be allocated for the real estate project “Mickeviciaus g. 8” development.
After the previous financing stage, windows, downpipes and protective fences were installed in the project. Half of the roof has been renewed, and the other side of the roof will be serviced shortly. In the few upcoming weeks the apartments will have concrete floors.
The developer is implementing a project of 13 residential apartments “Mickeviciaus g. 8 ”. 486,20 square meters of attic premises, equipped with 13 individual 26-60 square meters of apartments. The estimated selling price is EUR 2 100 - 2 200 per square meter. Currently, 10 apartment reservation agreements have been signed, the value of reservation agreements is EUR 800 000. Attic completion is almost 40%.
A 486,20 square meter attic is being pledged to protect the interests of investors on the A. Mickeviciaus str. 8, Kaunas. The attic premises are located in the centre of city Kaunas. Convenient communication with the main points of the city. The value of the property pledged to investors according to an independent real estate appraiser is EUR 503 000.
The maximum amount of project funding is EUR 700 000. 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 is not exceeded - 70%. LTV at this stage - 60%.
Interest by investment amount:
- From EUR 100 to EUR 999 - 7,5%
- From EUR 1 000 - 8%
Important: separately made investments 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.
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.
