- Attractive location in Kaunas: The project is being developed in the Aleksotas district, in a quiet neighbourhood of detached houses with convenient connections to the city centre. Kaunas city centre and the Old Town are only 6.5–7 km away, allowing future residents to combine a peaceful residential environment with convenient access to everyday services and workplaces.
- Experienced developer: The Project Owner has accumulated experience in developing approximately 2,000 m² of residential real estate. Over the course of their activities, they have completed 4 apartment renovation projects, 3 house renovation projects, and 10 residential house construction projects.
- High-demand housing format: The project will comprise 11 one-bedroom apartments, each with an individual parking space. This type of housing remains popular among both first-time homebuyers and investors, meaning the project is aimed at a broad range of potential buyers.
Interest rates according to investment amount:
– From EUR 100 to EUR 749 – 9.30%
– From EUR 750 to EUR 2,999 – 9.50%
– From EUR 3,000 to EUR 9,999 – 9.70%
– From EUR 10,000 – 9.90%
Important: Separate investments are not aggregated and cannot be combined.
About the Project:
During the previous financing stage, the Project Owner acquired two older residential houses in the Aleksotas district of Kaunas. The planned renovation and reconstruction works are being carried out in the acquired buildings with the aim of creating 11 separate one-bedroom apartments and establishing the procedure for their use. Approximately EUR 61,000 has already been allocated to construction and renovation works prior to this financing stage.
Cleaning works have already been completed at the property and windows have been ordered. Technical and engineering works are also underway: the gas pipe has been moved away from the façade to enable façade insulation works, while plumbing, electrical and ventilation systems are being installed. Preparatory works for the roof replacement are being carried out in parallel.
The total registered area of both residential houses is 442.93 m². Upon completion of the project and the planned renovation works, the total saleable area will amount to approximately 480 m². All apartments will be sold with partial finishing, and each apartment will have an individual parking space. The project is being developed in Aleksotas, in the southern part of the district, in a quiet neighbourhood of detached houses.
The location offers convenient access to the main areas of Kaunas – the city centre and the Old Town can be reached by car in approximately 10–15 minutes. The project is focused on the affordable and functional housing segment. Compact one-bedroom apartments, individual parking spaces and a peaceful residential environment create an attractive proposition for both owner-occupiers and buyers purchasing property as an investment.
The funds raised during this financing stage will be used to finance further project development and construction works. Project revenue will be generated through the sale of the completed and partially finished apartments to end buyers.
Estimated project sales revenue – EUR 1,048,000.
Loan information:
The loan will be repaid from the proceeds generated by the sale of the developed property, while interest payments to investors will be made from advance payments.
Maximum financing amount – EUR 700,000. EUR 222,600 has already been raised with the loan secured by a first-ranking mortgage, and EUR 318,000 has been raised with the loan secured by a second-ranking mortgage. Please note that the project will be financed with the loan secured by both first-ranking and second-ranking mortgages. Financing will be provided based on the current valuation of the pledged property until the established maximum loan-to-value (LTV) ratio is reached. Once the maximum LTV is reached, a new property valuation will be required, and further financing stages of the Project will only be launched and funded if the established maximum LTV ratio is not exceeded.
We plan to raise the required amount within 7 days, with the possibility of extending the fundraising period up 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.
