- Strong financial commitment to the project: The developer's investment of EUR 305,000 is a strong signal of confidence,indicating their belief in the project's success and their commitment to making every effort to ensure its success.
- Real estate expertise: With 15 successful projects, the project owner has a deep understanding of the real estate market. Their experience and knowledge allow them to accurately assess market needs and trends,resulting in informed decisions that increase the project's chances of success.
- 40% of apartments reserved: With 5 out of 12 apartments already reserved and EUR 742,000 in deposits received, it is evident that the project is highly attractive to buyers and stands out from other offerings in the market.
About the Project Owner:
The company's shareholder has extensive experience in real estate development, having successfully completed approximately 15 residential projects with a total area of around 12 000 m².The developer's expertise includes 4 similar multi-family housing projects, as well as the successful development and realization of commercial premises on Savanoriu prospectus in Kaunas.
About the project:
T12 is a project of prestigious, exclusive and luxurious apartments developed in the central part of Kaunas. The apartment building will be developed in a very beautiful location of the city - on the slope of Totoriu Street. Thanks to the location of the plot and the position of the apartment building, the future residents will be able to enjoy both the beautiful panorama of Kaunas city and the green slope on the eastern side. A short five-minute walk will take you to Laisves Alley and a five-minute walk to Karaliaus Mindaugo Avenue. In the adjacent street, on sunny days, residents will be greeted by the Ramybes Park. The project will have eight apartments over three floors, with two exclusive luxury penthouses at the top. The basement level will include commercial space, a 21-space parking garage, and two of the twelve apartments. The remaining eight apartments will be distributed on the second and third floors of the building. Residents of the penthouse apartment, whose windows will open to the panoramic view of the central part of Kaunas, will be able to watch the sunsets from a spacious 54 m² terrace.
Project objective:
The project owner has been working on this project since 2016. 6 years ago, the shareholder of the company bought a wooden three-apartment house built in 1920 and a plot of land at Totoriu st., Kaunas. During this period, he prepared the project, coordinated it with the public and the city municipality, and in December 2022 received a building permit for the construction of the apartment building. After obtaining the building permit, the project owner updated the terms and prices for the supply and production of materials and components and started the construction work. The project is expected to generate revenues of approximately EUR 6,500,000.
Project progress:
According to the latest valuation conducted on August 27, 2024, the construction progress of the 12-apartment project has increased from 40% to 90%. The property value has more than quadrupled during this period, rising from EUR 1,023,000 to EUR 4,798,000 including VAT. The funds raised in this phase will be used to continue further construction work.
The maximum financed amount: EUR 3,000,000 (Existing active portfolio EUR 621,800). The project is financed on the basis of the current valuation of the collateral until it reaches the established maximum loan-to-value ratio of 70% LTV. Once the maximum LTV has been reached, a new valuation of the property will have to be carried out and further rounds of financing for the Project will only be advertised and collected if the set maximum LTV is not exceeded.
Interest by investment amount:
– From EUR 100 to EUR 299 – 6.20%
– From EUR 300 to EUR 749 – 6.70%
– From EUR 750 to EUR 2 999 – 7.20%
– From EUR 3 000 to EUR 9 999 – 7.70%
– From EUR 10 000 – 8.20%
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.
