We present new phase of phased financing project – „P00001030-7". The raised funds will be used for the development of real estate. The amount to be raised at this stage is EUR 59 000.
About the project owner:
The project owner has developed more than 2,600 square metres of projects. The developer has the status of a reliable real estate developer and together with PROFITUS has developed „Pazaislio apartamentai" and „Gedimino 2" projects. Both projects have paid interest to investors on time and all investments have also been repaid.
The aim of the project:
The owner of the project is developing a 1 323 square metre apartment building with ground parking and bicycle storage on 0.5564 hectares of land (adjacent to its developed project Pažaislis apartamentai). The apartment block will comprise a total of 24 apartments with a floor area of 34-63 square metres. The apartments are planned to be sold with partial finishing. The sale proceeds for all apartments, parking spaces and bicycle storage will amount to EUR 2 400 000.
Project progress:
According to the Centre of Registers, the currently registered completion rate is 25%, the actual completion rate is 55% based on the works already carried out. 2 apartments are reserved. The structural works of the building have been completed with the funds mobilised in the last phases, the roof has been covered (insulation of the slab, installation of rainwater collectors in the roof covering) and internal rainwater harvesting risers have been installed. All windows in the building were insulated and sealed, and an aluminium façade system was installed on two staircases. Partial electrical wiring has been installed on the ground and first floors, underfloor heating piping has been installed, floors have been concreted in the ground floor flats, and on the third floor the foundations are being prepared for the installation of underfloor heating piping. The project owner will use the funds raised in this phase to continue the construction works.
Maximum planned amount of funding for the project: EUR 1 300 000 (EUR 531 200 already raised). The project is funded based on the current mortgage valuation until it reaches the maximum LTV set. When maximum LTV is reached, a new valuation of the property will be required and further project funding stages will be announced and collected only if the maximum LTV set is not exceeded. The loan-to-value ratio (LTV) without VAT at this stage – 61%.
Interest by investment amount:
– From EUR 100 to EUR 999 – 9.9%
– From EUR 1 000 to EUR 4 999 – 10.4%
– From EUR 5 000 – 10.9%
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 21 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.
