We present the new phase of the phased financing of the project – „Sestoku g. daugiabuciai II". The project owner will use the pooled funds for land acquisition and expansion of existing projects. The amount to be raised in this phase is EUR 250 000.
About the project owner:
The project owner has experience in real estate. Has implemented more than 85 000 square metres of projects.
Objective of the project:
The project will finance the acquisition of a 1.4198 hectare plot of land with a building permit and the development of two projects under development („Sestoku g. daugiabuciai“, „Virbalio g. daugiabuciai“). The project owner intends to subdivide the acquired land plot into 26 separate land plots and to develop them into two-flat houses.
Sestoku Street apartment blocks:
The owner of the project is developing eleven apartment buildings with a total floor area of 9 477.16 square metres. Each apartment block will have four storeys and 220 apartments. The project is expected to generate sales revenues of EUR 20 850 000.
Virbalio Street apartment buildings:
The owner of the project is developing three apartment buildings with a total area of 3 147.33 square metres. The apartment blocks will have four storeys and 72 apartments each. The project is expected to generate sales revenues of EUR 6 925 000.
Maximum planned amount of funding for the project: EUR 5 000 000 (EUR 250 000 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) at this stage is 19%
Interest by investment amount:
– From EUR 100 to EUR 499 – 9%
– From EUR 500 to EUR 999 – 9,5%
– From EUR 1 000 to EUR 2 999 – 10%
– From EUR 3 000 to EUR 6 999 – 10,5%
– From EUR 7 000 – 11%
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.
