Introducing a new funding project - "P00001179". The pooled funds will be used to refinance the loan for the J7 project being developed in Palanga. The amount to be raised is EUR 172 200.
About the project owner:
In 2022, UAB Ritata financed and successfully implemented the real estate project J7 Beržas on the Profitus platform. In almost four months, the Profitus investor community raised EUR 2 973 000 for the project and the investors earned EUR 180 000.
Project objective:
The project owner will use the funds raised to refinance the loan for the second construction phase of the J7 project. The phase consists of 10 identical duplexes with 48.75 square metres of apartments. The total investment in the development of this phase is expected to be around EUR 2 000 000 and the apartments will be sold for EUR 145 000 each. Preliminary sales contracts have now been signed for the sale of 5 out of the 20 apartments for a total value of EUR 725 000. The total sales revenue for the second phase of the construction is estimated at EUR 2 900 000.
Real estate is pledged as a first mortgage to secure investors' interests:
As collateral for the investors, an apartment with an area of 70.17 square metres and a part of the land plot at Latgalos g. 10-1, Palanga is mortgaged. According to the data of the registry centre, the apartment is 85% complete, but the actual completion is almost 100%. There is also a preliminary sale and purchase agreement for this apartment. According to an independent real estate appraiser, the value of the mortgaged real estate is EUR 255 000.
The project has a Risk Category (probability of default) of 8/12.
Interest according to the size of the investment:
- From EUR 100 to EUR 499 - 12,5%
- From EUR 500 and EUR 1 499 - 13,00%
- From EUR 1 500 and 2 999 - 13,25%
- From EUR 3 000 - 13,5%
Important: Individual investments are not aggregated and cannot be combined.
We expect to raise the amount within 7 days, with the possibility of extending it to 21 days if the funds are not raised.
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.
