We present a staged financing project for real estate development "Satrininku namai", phase III. The amount to be raised in the third phase is EUR 71 000.
Progress of the project:
After the second stage of the project, the walls of the second floor of all the houses were built in the project, and the roofs were covered. New property valuations were performed, and cadastres of the second floors of the remaining houses were performed.
Project owner:
The company developing the project has accumulated successful experience in real estate development. The for-profit investor community has funded 4 previous projects by this developer. All projects were successfully implemented and all investors were settled on time.
The aim of the project:
The project owner is building 4 residential two-apartment houses (8 apartments in total) with a total area of 995 sq. m. Once the houses are partially finished, they will be sold. The estimated selling price is EUR 1 500 per square meter. The planned sales revenue of the whole project is EUR 1 500 000. It is planned to complete the construction works by February of 2022.
To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors 4 plots of land with a total area of 26,22 acres with four two-apartments houses are pledged in a quiet place of Vilnius - Kalnenai, at Satrininku st. 22, 28, 30 and 36, Vilnius. According to an independent real estate appraiser, the value of the mortgaged real estate is EUR 606 900.
The maximum planned amount of funding for the project: EUR 700 000. The Borrower will be entitled to borrow additionally in other stages, provided that it does not exceed the established maximum ratio of the value of the loan and the collateral - 70%. The official asset value ratio (LTV) at this stage is 57%.
Interest by investment amount:
From EUR 100 to EUR 499 - 7,5%
From EUR 500 to EUR 2,999 - 8%
From EUR 3 000 to EUR 9 999 - 8,5%
From 10 000 EUR - 9%
Important: investments made separately are not aggregated.
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.
