We introduce a new project – „Butai Vandentiekio g.“. The project will be financed in different stages. The funds will be used for RE refurbishment. At this stage, EUR 173 300 are to be raised.
Project aim:
The project owner has acquired 7 flats that are partly refurbished in Vilnius in the apartment building 'V30' that was built in 2021. The whole area is 307.83 square meters. Additionally, there are 5 underground parking spaces. According to 'Registru centras' data, the apartment building is 100% finished. At this moment flats are being furnished. As the furnishing will be completed, the flats will be available for rent. Estimated revenue from rent is about 8 000 per month.
At the end of the loan term, the property will be passed over to the investment real estate fund and this loan will be repaid by refinancing it at the bank and from the money of fund participants.
About the owner of the project:
UAB 'Victory Residential' belongs 'Victory Funds' and 'Citus Group' group which has developed various real estate projects of 130 000 square meters in Vilnius and Kaunas
To secure the interests of investors, real estate is pledged with a secondary mortgage:
To secure the interests of investors, 7 apartments with a total area of 307.83 square meters are pledged at Vandentiekio st. 30A, Vilnius. According to an independent real estate appraisal, the value of real estate pledged to investors is EUR 898 299.
Maximum planned amount of funding for the project: EUR 1 000 000. 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.
As we operate transparently and fairly, we inform, the shareholders of UAB 'Victory Residential' are also the shareholders of crowdfunding platform 'Profitus'. We notice that the project developer is directly related to the crowdfunding platform 'Profitus'. We confirm that the project financing is executed according to principles of transparency, independence, public visibility and equality.
The financing agreement will be subordinated with another credit that was given or will be given by Bigbank AS, registration code in Estonia 10183757. The company operates in Lithuania through BIGBANK AS branch, registration code in Lithuania 301048563. More information in 'documents' section, under 'investment conditions'.
The Bank is informed and agrees that on the due of agreement repayment, the financing agreement can be refinanced with the condition that the new financing agreement will be subordinated by the credit given by the Bank. The Bank also agrees that without the preliminary Bank agreement the interest would be paid for the loan giver not more often than once in a quarter.
Interest by investment amount:
- From EUR 100 to EUR 499 - 11%
- From EUR 500 to EUR 4 999 - 11,5%
- From EUR 5 000 - 12%
Important: investments made separately are not aggregated.
We plan to collect the accumulated amount within 7 days with the possibility to extend it to 21 days without raising funds.
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.
