- Accumulated experience: The group of companies has been operating in the construction market since 2016 and has developed more than 35 000 m² of real estate during this period. The developer’s team has experience in implementing residential real estate projects of various scales – from townhouse developments to large-scale apartment building projects. Completed projects include the 145-house “Antežeriai” development and the 203-apartment “Pušų parkas” project.
- Development potential: The land plot of more than 2 ha is located within the territory of Vilnius city, in the direction of Lentvaris. After changing the designated use of the land plot and obtaining a construction permit, the developer plans to develop residential real estate – townhouses – on the site.
- Significant own contribution: The purchase price of the land plot is 870 000 EUR, of which 261 000 EUR is financed from the developer’s own funds and 609 000 EUR through PROFITUS financing.
Interest rates based on the investment amount:
– From 100 EUR to 299 EUR – 8.00%
– From 300 EUR to 699 EUR – 8.25%
– From 700 EUR to 1 999 EUR – 8.50%
– From 2 000 EUR to 4 999 EUR – 8.75%
– From 5 000 EUR to 14 999 EUR – 9.00%
– From 15 000 EUR to 49 999 EUR – 9.25%
– From 50 000 EUR – 9.50%
Important: separate investments are not aggregated and cannot be combined.
About the Project:
The project owner seeks to acquire a 2.0835 ha land plot in Vilnius, next to Kaimynų Street, in the direction of Lentvaris. The purchase price of the land plot is 870 000 EUR, of which 609 000 EUR is planned to be financed through the PROFITUS platform. The developer is contributing its own funds to the project – an advance payment of 100 000 EUR has already been paid for the land plot, while an additional 161 000 EUR is scheduled to be paid in mid-September.
The funds raised during this financing stage will be used exclusively for the acquisition of the land plot. Following the acquisition, the developer plans to initiate the process of changing the designated use of the land plot and subsequently develop a residential townhouse project on the site.
The land plot is located within the territory of Vilnius city, next to Kaimynų Street (an exact address has not yet been assigned). This part of the city is characterised by the expansion of residential areas and convenient connections to other parts of Vilnius. The planned change of the land plot’s designated use would enable the agricultural land to be adapted for residential development and unlock the potential of the more than 2 ha site for a future townhouse project.
The project company was established specifically for this project (SPV) and is owned by Orneris, UAB. Its team has extensive experience in residential real estate development in Vilnius, the Vilnius District and Palanga. Completed projects include “Zujūnų namai”, “Pilaitės Alėja”, “Pavilnio alėja”, the 32-apartment “Lazdynėlių namai”, the 145-house “Antežeriai” development and the 203-apartment “Pušų parkas” project. The developer is also expanding its activities in Palanga, where it is planning and developing two projects comprising 316 apartments and residential units with more than 12 000 m² of total saleable area.
Loan information:
The loan will be repaid by refinancing it with another credit institution or through continued project financing on the PROFITUS platform. Interest will be paid from the company’s working capital. The term of the project loan agreement is 36 months. Funds for the project may be raised in stages, while the duration of this financing stage is 12 months. At the end of this stage, if necessary, continued project financing may be carried out, i.e. funds for the project may be raised through a new financing stage without exceeding the final term of the project loan agreement.
The maximum planned financing amount for the project is 609 000 EUR. The amount may be raised in stages. The project is financed based on the current valuation of the pledged property until the established maximum loan-to-value (LTV) ratio is reached. Once the maximum LTV is reached, a new property valuation must be carried out, and subsequent financing stages of the Project will be announced and funded only if the established maximum LTV is not exceeded.
Please note that interest for investors will start accruing once the full amount required for the acquisition, i.e. 609 000 EUR, has been raised.
We plan to raise the target amount within 7 days, with the possibility of extending the fundraising period up to 30 days if the funds are not raised.
About the Profitus
Profitus is a crowdfunding and investment platform with a minimum investment of 100 euros. Profitus investments are secured by real estate mortgages, Your investment is secured by a first or second mortgage on the property, as well as by other collateral (e.g. a surety or guarantee). Transactions are managed through Lemonway, a regulated payment service provider.
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. Profitus operates with Lemonway, a regulated payment service provider.
