- Attractive Location: The project is being developed in the central part of Panevėžys, where social and engineering infrastructure is well established, transportation connections are convenient, and the proximity to the Nevėžis River and recreational areas enhances the attractiveness of the residential development.
- Liquidity: The limited supply of newly built housing in Panevėžys and the demand for modern apartments create favorable conditions for the rapid and smooth sale of the property.
- Construction Progress: Since the previous financing stage, preparatory demolition works have been completed, structural reinforcement solutions have been implemented, preparations for window installation have been finalized, and masonry works have commenced. Construction is progressing according to the planned schedule.
About the Project:
The developer acquired a former pumping station building designated for industrial and manufacturing use, together with associated yard structures, located on a state-owned land plot at A. Jakšto St. 12, Panevėžys. Reconstruction works are currently ongoing in accordance with the approved construction project.
Since the previous financing stage, preparatory structural demolition works have been carried out, building reinforcement measures have been implemented, and preparations for the installation of new windows have been completed. Masonry works have also commenced in accordance with the reconstruction plans.
The reconstruction project provides for the development of 32 residential apartments, 24 storage units, 6 administrative premises with a total saleable or leasable area of approximately 455 m², and 1 retail unit with an area of approximately 54.79 m².
A total of 10 surface parking spaces have been designed on the state-owned leased land plot.
The administrative premises are planned to be adapted and leased to a kindergarten, for which 2 parking spaces will be allocated. Preliminary rental income from these premises is estimated at approximately EUR 6,000 per month plus VAT.
Projected apartment sales revenue amounts to EUR 4,652,311, while total projected project revenue is estimated at EUR 5,679,772.
The project is located in the central part of Panevėžys, approximately 850 metres from Laisvės Square. The area benefits from well-developed social and engineering infrastructure, convenient connections to other parts of the city, and a mixed-use environment suitable for residential purposes. Nearby are educational institutions, shopping centres, healthcare facilities, and various service providers.
Additional appeal is provided by the Nevėžis River and the Panevėžys oxbow lake recreational area. Following reconstruction and adaptation to modern housing standards, the apartments are expected to demonstrate strong market liquidity. The central location, limited supply of newly built housing in Panevėžys, and growing demand for quality housing support the expectation that modern apartments in this location can be sold efficiently and within a relatively short period.
Loan Information:
The loan will be repaid from the sale of the developed property (apartments), while interest payments will be covered from advance payments and the shareholders’ personal capital.
Maximum planned project financing amount: EUR 2,200,000 (EUR 230,000 already funded). The project is financed based on the current valuation of the pledged property until the maximum permitted Loan-to-Value (LTV) ratio is reached. Once the maximum LTV threshold has been achieved, a new property valuation will be required. Further financing stages will be announced and funded only if the established maximum LTV ratio is not exceeded.
We plan to raise the target amount within 7 days, with the possibility of extending the funding period up to 30 days if the required funds are not collected within the initial period.
About the Profitus
Profitus is a crowdfunding and investment platform with a minimum investment of 100 euros. Profitus investments are secured by real estate mortgages, Your investment is secured by a first or second mortgage on the property, as well as by other collateral (e.g. a surety or guarantee). Transactions are managed through Lemonway, a regulated payment service provider.
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. Profitus operates with Lemonway, a regulated payment service provider.
