- Significant development potential: The pledged land plot in Vilnius has a total area of 1,2155 ha. The plot is designated for the construction of multi-apartment residential buildings, and a building permit has already been issued.
- Clear plan for the first development phase: Following the acquisition of the land plot, construction of the first phase of the project is planned to commence. This phase will include the construction of 4 separate apartment buildings with a total area of 7 549 m². The development will comprise 117 apartments and 96 parking spaces.
- Extensive experience of the group of companies: "KAITA Group" has completed and is developing a total of 26 real estate projects, has sold 1 282 apartments, and has developed and currently manages 942 build-to-rent residential units. The total area of developed projects amounts to approximately 78 600 m².
Annual interest rates based on the investment amount:
– From 100 EUR to 299 EUR – 9.00%
– From 300 EUR to 699 EUR – 9.25%
– From 700 EUR to 2 499 EUR – 9.50%
– From 2 500 EUR to 6 999 EUR – 9.75%
– From 7 000 EUR to 19 999 EUR – 10.00%
– From 20 000 EUR to 49 999 EUR – 10.25%
– From 50 000 EUR – 10.50%
Important: Separate investments are not aggregated and cannot be combined.
About the Project:
The project owner plans to acquire a land plot located at Kalno St. 111, Vilnius, with a total area of 1,2155 ha. The designated land use is for multi-apartment residential buildings and dormitories. A building permit has already been issued for the plot. Following the acquisition, construction works on the first phase of the project are planned to commence. The first phase will include the construction of 4 separate apartment buildings with a total area of 7 549 m². The development will comprise 117 apartments and 96 parking spaces. The first phase is scheduled for completion by February 2028. The planned average selling price is approximately 2 519 EUR/m², while the estimated construction cost is approximately 1 300 EUR/m².
The designated land use and planned development provide significant potential for further development of the site. The funds raised during this financing stage will be used to partially finance the acquisition of the land plot in Vilnius.
Loan Information:
The loan will be repaid from proceeds generated by the sale of the property, while interest payments to investors will be covered from the company's working capital.
The total loan requirement for this project is 10 000 000 EUR. As this amount exceeds the threshold defined in the crowdfunding regulation, PROFITUS has the option to involve a syndication partner in the financing. The project loan agreement is planned for a term of 36 months. Funds may be raised in multiple stages, while the current financing stage has a duration of 18 months.
The shareholders of the project owner's group also have the option to raise up to 5 000 000 EUR in additional financing through bond issuances. Obligations arising from the bonds may be secured by pledges over shares in group companies, and the funds raised may only be used to finance projects developed by the companies whose shares are pledged as security for the respective bond issuance. The specific terms of each bond issuance and its collateral arrangements will be determined by a separate agreement. The project will be financed based on the current valuation of the pledged property until the established maximum loan-to-value (LTV) ratio is reached.
Please note that once the maximum LTV ratio is reached, further financing of the project may be based on the LTC ratio. The LTC (Loan-to-Cost) ratio represents the proportion of the loan amount to the total project budget. Project financing will be disbursed to the general contractor's account based on submitted construction work acceptance certificates, without exceeding the maximum LTC ratio or the maximum loan amount. No additional property valuation will be carried out between financing stages. Financing decisions will be based on the approved construction work acceptance certificate issued by the Technical Construction Supervisor and evidence confirming that the Client has paid their required equity contribution.
We plan to raise the target amount within 7 days, with the possibility of extending the fundraising period to 30 days if the required funds are not collected.
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.
