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Biciuliu Ateities g. namai XI

Profitus
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100 %
  • Status funded
  • Goal 133,000 EUR (€)
  • Raised 133,000 EUR (€)
  • Investors 173
  • Interest rate 11%
  • Loan To Value(LTV) 70%
  • Credit Duration 12 month

We present the new stage of staged financing project „Biciuliu Ateities g. namai XI”. The raised funds will be used for real estate development. The amount to be raised at this stage is EUR 133 000.

About the project owner:
The project owner has experience in real estate. The developer developing the project has received financing on the Profitus platform. The projects have been successfully completed and investors have been settled on time.

About the project:
„Lapino namai” is a block of newly built individual houses in the project „Biciuliu terasos”. The project develops A+ energy class houses, characterized by unified architecture, spacious 8-10 acre plots of land for each house. Nearby are forests, Trakai lakes and the castle, which can be reached by bicycle. 80-120 square metres residential houses will be equipped with partial or full decoration. The houses will be sold, the estimated sales revenue of the entire project is EUR 8 575 000.

Progress of the project:
The project owner used the funds raised in the first phase to cover the roofs and install windbreaks on 40, 42, 52, 54, 56 Ateities Street. The second phase funds were used to install the heating collector, internal partitions and complete the sewage communication works in 40, 42 Ateities Street, and to concrete the floors and install the water supply in 52, 54, 56 Ateities Street. At 40, 42 Ateities Street, after the third and fourth phase, the sewage system, water supply, electricity and rainwater drainage have been installed, as well as the paving of the site, the installation of fences and terraces, and the completion of the facade. 52, 54, 56 Ateities Street, after the third and fourth phases, garage doors, rainwater drainage, infiltration, paving of the site, partitioning, fences. The project owner will use the money raised to continue the construction of the residential houses.

The maximum planned amount of project financing: EUR 3 000 000 (EUR 910 900 already raised). The project is financed according to the current valuation of the mortgaged property until it reaches the set maximum LTV. Once the maximum LTV is reached, a new valuation of the property will have to be performed and further stages of the Project financing will be announced and collected only if the set maximum LTV of 70% is not exceeded. The loan-to-value (LTV) with VAT ratio at this stage is 60%.

Interest by investment amount:
– From EUR 100 to EUR 499 – 11%
– From EUR 500 to EUR 2 999 – 11,5%
– From EUR 3 000 to EUR 4 999 – 12%
– From EUR 5 000 to EUR 9 999 – 12,5%
– From EUR 10 000 – 13%
Important: investments made separately are not aggregated.

We plan to raise the amount within 7 days, with the option of extending it to 21 days if we do not raise funds.

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