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Basanaviciaus patalpos II

Profitus
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100 %
  • Status funded
  • Goal 33,900 EUR (€)
  • Raised 33,900 EUR (€)
  • Investors 154
  • Interest rate 9.5%
  • Loan To Value(LTV) 70%
  • Credit Duration 12 month

We present a new staged financing project “Basanaviciaus patalpos II”, the funds of which will be allocated to the refinancing of the existing loan. The amount to be raised at this stage is EUR 33 900.

About the project owner:
The project owner has experience in real estate development. Implemented 7 different construction projects with a total area of 6 400 square meters. The project owner previously financed one real estate project on the Profitus platform. Investors are paid interest on time. He has already repaid part of the loan.

The aim of the project:
The owner of the project will allocate the raised funds to the development of 453 square meters of service premises located in Kaunas, near Topo centras. At the moment, demolition work has already been completed in the building, the building’s structure has been changed, the ceiling has been raised, new spacious rooms have been created, new windows and doors have been installed, and facade insulation work has begun. After the repair work is completed, the premises will be rented or sold. Planned rental income is 8 000 EUR/month, sales – EUR 800 000.

To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors, two creative workshops (lofts) with a total area of 63.24 square meters are pledged at Savanoriu ave. 206B-205 and 218, Kaunas. According to an independent real estate appraiser, the value of the property pledged to investors is EUR 129 000. In addition, the company UAB Senekta provides a guarantee for this loan.

Maximum planned amount of funding for the project: EUR 400 000. The project is funded based on the current mortgage valuation until it reaches the maximum LTV set. When maximum LTV is reached, a new valuation of the property will be required and further project funding stages will be announced and collected only if the maximum LTV set is not exceeded.

We plan to collect the accumulated amount within 7 days with the possibility to extend it to 21 days without raising funds.

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