- Construction progress: Significant construction progress has been achieved since the previous financing stage. Demolition and structural works have been completed, the third floor has been constructed and an insulated roof installed in the southern, largest part of the building. The first floor has been built in the central part of the building, while the first and second floors have been constructed in the northern part. In addition, part of the floor slabs have been installed, the foundations have been insulated, and a drainage system has been installed.
- Attractive location: The project is being developed in the central part of Panevėžys, which benefits from well-developed social and engineering infrastructure, convenient transport connections, and proximity to the Nevėžis River and recreational areas, enhancing its appeal for residential use.
- Liquidity: The limited supply of newly built housing in Panevėžys and demand for modern apartments create favorable conditions for the quick and smooth sale of the property.
Interest rates based on investment amount:
– From 100 EUR to 349 EUR – 9.50%
– From 350 EUR to 749 EUR – 9.75%
– From 750 EUR to 2 499 EUR – 10.00%
– From 2 500 EUR to 6 999 EUR – 10.25%
– From 7 000 EUR – 10.50%
Important: Separate investments are not aggregated and cannot be combined.
About the Project:
The developer continues the reconstruction of a former industrial pumping station building located at A. Jakšto St. 12, Panevėžys. The project aims to transform the building into a modern residential and commercial property comprising apartments, administrative premises, and retail space. Significant construction progress has been achieved since the previous financing stage. Demolition and structural works have been completed, the third floor has been constructed and an insulated roof installed in the southern, largest part of the building. The first floor has been built in the central part of the building, while the first and second floors have been constructed in the northern part. In addition, part of the floor slabs have been installed, the foundations have been insulated, and a drainage system has been installed.
The reconstruction project includes the development of 32 residential apartments, 24 storage units, 6 administrative premises, and one retail unit with an area of approximately 54.79 m². The administrative premises are planned to be adapted for use as a private kindergarten. A letter of intent has already been signed with a private kindergarten for the lease of approximately 440 m² of premises. Expected rental income would amount to approximately 6 160 EUR per month.
To improve the project's infrastructure and ensure a sufficient number of parking spaces, in August 2026 the developer signed a purchase and sale agreement for an adjacent land plot at Šv. Zitos St. 13A, including the buildings located on it. Approximately 15 additional parking spaces are planned to be developed on this plot. Final settlement for the land plot is scheduled for May 2027, after which ownership will be transferred to the developer. The land plot is then planned to be pledged in favor of PROFITUS.
The developer is also preparing Revision A of the construction project, which will include adjustments to the parking arrangements to provide more spaces for electric vehicles, as well as changes to window placement and materials. These modifications will not affect the building's total area or volume. Approval of Revision A is planned by the end of January 2027.
Apartment sales have not yet commenced; however, according to the developer, potential buyers have already expressed interest in the project. Active sales are expected to begin in the near future, following further investment in construction works to increase the building's completion level and value.
Expected revenue from apartment sales amounts to 4 652 311 EUR, while total projected sales revenue for the entire project is 5 679 772 EUR.
The project is being developed in the central part of Panevėžys, approximately 850 m from Laisvės Square. The area benefits from well-developed social and engineering infrastructure, convenient connections to other parts of the city, and an environment suitable for both residential and commercial activities. Educational institutions, shopping centers, healthcare facilities, and other everyday services are located nearby. The proximity of the Nevėžis River and the Panevėžys Senvagė Pond, together with their recreational areas, further enhances the attractiveness of the location. The project's central location, developed infrastructure, and limited supply of newly built housing in this part of the city create favorable conditions for future apartment demand and sales.
Loan Information:
The loan will be repaid from the sale of the developed property (apartments), while interest will be paid from advance payments and the shareholders' personal capital.
Maximum planned Project financing amount: 2 200 000 EUR (551 000 EUR already raised). The Project loan agreement is scheduled to end on 2029-02-22. Funds for the project may be raised in stages, and in this financing stage, funds are being raised for a period of 12 months. Upon expiry of this stage, funds may be raised again to extend the financing. The project is financed based on the current valuation of the pledged property until the established maximum loan-to-value ratio (LTV) is reached. Once the maximum LTV is reached, a new property valuation must be carried out, and subsequent Project financing stages will only be launched and funded if the established maximum LTV is not exceeded.
We plan to raise the target amount within 7 days, with the possibility of extending the fundraising period to 30 days if the funds are not fully raised.
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.
