- Experienced Developer: The project owner has a successful track record in the real estate market, having completed projects totaling 3,000 m².
- The subject of the pledge: A fully developed guest house in Palanga. Houses are designed for young families, taking into account the needs of today's market. Building A+ energy class.
- Equity Investment: The project owner has invested approximately 20% (250,000 EUR) of their own funds into the project.
Interest by investment amount:
– From 100 EUR to 299 EUR – 9.20%
– From 300 EUR to 749 EUR – 9.70%
– From 750 EUR to 2 999 EUR – 10.20%
– From 3 000 EUR to 14 999 EUR – 10.70%
– From 15 000 EUR – 11.20%
Important: investments made separately are not aggregated and cannot be pooled.
About the Project:
The project owner has developed a Guest House in Palanga on a 15.22-acre plot of land. This three-story building, with two separate stairwells, offers a wide selection of apartments – from 2 to 3 rooms, ranging from 25 to 38 m². Currently, 19 out of 27 apartments have been sold. The average area of a sold apartment is 30 m². The average square meter price of a sold apartment in 2022-2023 was 3,012 EUR including VAT.
Project Progress:
Since the last financing stage, two apartments with parking spaces have been sold, located at Vaivorykstes st. 72G-11 and Vaivorykstes st. 72G-27. The selling price of both apartments was 198,000 EUR including VAT. The project owner will use the funds raised in this stage to refinance the existing loan for the company's working capital.
Loan Information:
This loan will be covered by the proceeds from the sale of the collateral, which is estimated to be 747,107 EUR. Interest is paid from own funds (proceeds from the sale of already sold properties).
Maximum Funded Amount: 672,645 EUR (485,000 EUR already raised). The project is financed based on the current valuation of the collateral until it reaches the specified maximum loan-to-value (LTV) ratio. Once the maximum LTV is reached, a new property valuation will need to be performed, and further project financing stages will be announced and collected only if the specified maximum LTV is not exceeded.
We plan to raise the required amount within 7 days, with the possibility of extending the period up to 30 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.
