We present the new stage of staged financing project – „P00000744-16". The raised funds will be used to develop the property and refinance the existing loan. The total development period of the project is envisaged to be 36 months. The project commenced development in November 2022 and is on schedule. The refinancing of the project was foreseen and taken into account in the company's cash flow planning. The amount to be raised at this stage is EUR 100 000.
About the project owner:
The project owner has experience in real estate. The project owner has experience in real estate. The developer also has the status of a trusted developer and together with PROFITUS has financed seven unique real estate projects: („Lapino namai", „Namas Dusmenu g.", „Lapino namai Biciuliu terasose", „Namas Dusmenu g. 63", „Biciuliu namai", „Namas D45", „Ateities 50"). The projects have been successfully completed and investors have been settled on time.
About the project:
„Lapino namai" is a new-build block of detached houses being developed in the „Biciuliu terasos" project. The project is developing A+ energy class dwellings, characterised by a 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. More about the project can be found here. The 80-120 square metre houses will be furnished with partial or full finishes. The houses will be for sale, with an estimated sales income of EUR 10 445 600 for the whole project.
Project progress:
With the funds mobilised in the last phases, the house at 42 Ateities Street has been fully completed, the façade at 52, 54 and 56 Ateities Street has been fully completed, and the interior finishing works are continuing. At Ateities Street 70, 72, the foundations have been laid, the walls and floors have been insulated, the roof, the windows, the plumbing, the electricity and the sewage systems have been installed.
Maximum amount to be financed: EUR 3 000 000 (EUR 902 629.04 active portfolio). The project is financed on the basis of the current valuation of the collateral until it reaches the maximum LTV of 70%. Once the maximum LTV has been reached, a new appraisal will have to be carried out and further rounds of financing for the Project will only be advertised and collected if the set maximum LTV is not exceeded. The Loan to Value (LTV) for this stage is 48%.
Interest by investment amount:
– From EUR 100 to EUR 499 – 10.5%
– From EUR 500 to EUR 999 – 11%
– From EUR 1 000 to EUR 1 999 – 11.25%
– From EUR 2 000 to EUR 9 999 – 11.5%
– From EUR 10 000 to EUR 29 999 – 12%
– From EUR 10 000 – 12.5%
Important: Individual investments are not aggregated and cannot be combined.
We plan to raise the amount within 7 days, with the possibility of extending it to 21 days in the event of non-collection.
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.
