- The pooled funds will be used for real estate development;
- The location of the mortgaged property in the rapidly developing urban area of Kristiine, a pleasant residential environment close to the centre of Tallinn for people who value privacy;
- The owner of the project has many years of experience in the construction sector together with the best in Estonia: Merko and Nordecon;
- The developer is personally guaranteed by.
About the project owner:
Giraldo OÜ is a construction and building finishing company whose main activities are subcontracting to larger general contracting companies and general contracting of construction works. Main partners of the company: AS Merko Ehitus, AS Merko Tartu, AS Nordecon Ehitu.
Project objective:
The project owner plans to develop a 452.5 square metre modern four-bedroom residential project on the land. The four-storey building will be two storeys high and energy class A. The average area per apartment will be 112.9 square metres. On the ground floor there will be a common living room and kitchen area, a hallway with a spacious wardrobe, a pantry, a bathroom and an appliance room with a bath. On the second floor there is a bathroom and three bedrooms. Each apartment will also have its own terrace. The apartments are planned to be sold upon completion. The projected sale proceeds for all the apartments are EUR 1 900 000.
The maximum planned amount of funding for the project: EUR 750 000 (EUR 80 000 already raised). The project is financed according to the current valuation of the mortgaged property until it reaches the set maximum LTV of 85%. Once the maximum LTV is reached, a new valuation of the property will be carried out, and the further stages of financing the Project will be announced and collected only if the set maximum LTV is not exceeded. The loan-to-value (LTV) without VAT at this stage is 31%.
Interest by investment amount:
– From 100 EUR to 499 EUR – 8.20%
– From 500 EUR to 999 EUR – 8.70%
– From 1 000 EUR to 1999 EUR – 8.95%
– From 2 000 EUR to 4999 EUR – 9.20%
– From 5 000 EUR – 9.70%
Important: investments made separately are not aggregated.
We plan to collect the target amount within 7 days with the possibility to extend it to 21 days if the target is not reached.
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.
