We present a new staged financing project "Kalno butai" in Vilnius. Funds for this phase will be allocated for the development of an apartment building with eight apartments. The amount raised is EUR 36 600.
The aim of the project:
The project owner will develop the construction of a two-storey apartment building on the plot of 16.27 ares in Naujosios Vilnios district, Migunu st. The house will consist of a total of 8 apartments, 4 of which will be 78 square meters, and the other 4 - 95 square meters. There will also be a basement after 1⁄4 of the house. At present, the first floor of the apartment building has been built, ceilings have been installed, and bricklaying of the second floor has begun. The total area of the future building will be 785.4 square meters. The sales revenue of the whole project will reach EUR 1 000 000 euros. The proceeds of the sale will cover this loan.
About the project owner:
The project owner has accumulated considerable experience in the real estate development business. In total, it has developed more than 5,000 square meters of residential and commercial projects in Vilnius.
To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors, a 16.27-acre plot of land located in Vilnius, Kalno st. (after registration, it should be Migunu st.), where a multi-apartment project is currently being developed, is pledged. According to an assessment by an independent real estate appraiser, the value of the property pledged to investors is EUR 61 000.
The maximum planned amount of funding for the project: EUR 450 000. The project is financed according to the current valuation of the mortgaged property until it reaches the set maximum LTV - 70%. 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 is not exceeded. The loan-to-value ratio (LTV) at this stage is 70%.
Interest by investment amount:
- From 100 EUR to 1 999 EUR – 8%
- From 2000 EUR – 8,5%
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.
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.
