- Experienced developer: The project owner has been operating in the real estate market since 2021 and during this period has successfully developed 5 residential projects with a total area of approximately 3 000 m².
- Attractive location: The mortgaged property is located in the city of Palanga, in the Kunigiškiai district – a promising area near the sea, characterized by well-developed infrastructure and stable demand for both residential and recreational real estate.
- Experience with PROFITUS: The project owner has successful cooperation experience with PROFITUS, implementing projects in the Kunigiškiai area.
Interest rates depending on investment amount:
– From 100 EUR to 349 EUR – 9.00%
– From 350 EUR to 999 EUR – 9.25%
– From 1 000 EUR to 2 999 EUR – 9.50%
– From 3 000 EUR to 9 999 EUR – 9.75%
– From 10 000 EUR to 24 999 EUR – 10.00%
– From 25 000 EUR – 10.30%
Important: individual investments are not aggregated and cannot be combined.
About the Project:
The project owner has developed guest house premises in Palanga, Kunigiškiai district, approximately 1 km from the Baltic Sea. The object is implemented in a promising and actively developing area dominated by residential and recreational buildings, single-family and semi-detached houses. The area is characterized by developed infrastructure – pedestrian paths, street lighting, and convenient access.
The building is three-storey, with two separate staircases, which contain premises of different purposes: one staircase accommodates hotel-purpose premises (guest rooms), the other – residential-purpose premises (apartments).
Currently, 6 unsold apartments / guest rooms remain in the project. Over the past year, 2 units have already been sold. At this stage, the raised funds will be used to refinance the existing PROFITUS loan and for the company’s working capital. The refinancing need arose in order to provide the project owner with additional time to sell the remaining assets.
In the project’s surroundings, similar objects have been successfully realized – according to the developer, the nearby apartment quarter “Mano Jūra 2” has been fully developed and sold, which confirms demand in this segment of Palanga.
Loan information:
The loan will be repaid from property sale proceeds. Interest will be paid from own funds.
Maximum financed amount: 672 645 EUR. The project is financed according to the current valuation of the pledged property until the established maximum loan-to-value (LTV) ratio is reached. Upon reaching the maximum LTV, a new property valuation must be carried out, and further project financing stages will be announced and funds collected only if the established maximum LTV is not exceeded.
The stage duration is 18 months, but no longer than until 2027-05-22.
The planned fundraising period is 7 days, with the possibility to extend up to 30 days if 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.
