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Butai Kaune IV

Profitus
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100 %
  • Status funded
  • Goal 50,000 EUR (€)
  • Raised 50,000 EUR (€)
  • Investors 126
  • Interest rate 5%
  • Loan To Value(LTV) 50%
  • Credit Duration 18 month

We present the fourth stage of the staged financing project “Butai Kaune”. The project owner seeks to implement another real estate project in Kaunas faster, so he refinances the existing loan. The amount to be raised at this stage is EUR 50 000.

Project owner:
The project owner has 5 years of experience in the field of real estate and manages a strong real estate development company. The owner’s company purchased 4 172.16 sq. meters area 2 administrative premises at Elektrenu 8N, Kaunas. In 2020, carried out the conversion of administrative premises and formed and fully equipped 151 apartments for rent, 149 apartments are for rent. Permanent rental occupancy 95%. In general, during the first of 2021 in the first half of the year, rental income amounted to EUR 283 641.

The aim of the project:
The project owner is developing a new real estate project in Kaunas, Zemaiciu st. 31. In a brick, 4-storey building, 3 517.95 sq. metres reconstruction works will be carried out in the premises with an area of one meter. All apartments will be rented and the planned cost of the whole project is EUR 1 000 000.

Progress of the project:
The main current works of the project: electricity and water supplied to twenty apartments, electrical installation works in corridors and apartments, water connection works in apartments. Lofts are formed on the fourth floor. Preparations for the ventilation system on all floors are also being carried out, and scaffolding is being installed for the exterior of the building. (Photos of the mortgaged property are attached).

To protect the interests of investors, real estate is pledged:
Investors are pledged 151 apartments and 2 administrative premises in Elektrenu st. 8N, Kaune. The total area of the mortgaged premises is 4 172,16 sq. m. According to an independent real estate appraiser “Inreal” the value of the mortgaged property is EUR 3 807 300. All mortgaged apartments are fully finished and ready for life – they have all the necessary furniture and communications. The project is located in an infrastructurally convenient place in Kaunas – Petrasiunai, from which the main points of the city are easily accessible.

Important:
For new investors, the property will be temporarily pledged with a second mortgage, after refinancing all stages, all secondary mortgage holders – investors, will receive a pledge of the primary mortgage. The existing primary mortgage is administered by “Profitus”, so all investments are protected.

Interest by investment amount:
– From EUR 100 to EUR 499 – 5%
– From EUR 500 to EUR 999 – 5,5%
– From EUR 1 000 – 6%
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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