Back to Profitus offerings

Maple house III

Profitus
CrowdSpace is not liable for the content presented in this offering. Check with the information on the official Profitus website and make informed decisions based on your own research.
100 %
  • Status funded
  • Goal 98,000 EUR (€)
  • Raised 98,000 EUR (€)
  • Investors 157
  • Interest rate 7%
  • Loan To Value(LTV) 63%
  • Credit Duration 12 month

Stage project “Maple House” – III stage of financing. The loan is for real estate development. The project is being developed by one of the TOP 5 real estate developers in Lithuania – CITUS.

The company is developing the project “Maple house”, residential apartment buildings. Construction design has already been carried out and a building permit has been obtained. In total, the project envisages the construction of 189 apartments. In the first stage of construction, two apartment buildings (122 apartments) are being developed. Of these, 71 were reserved, and preliminary sales contracts worth EUR 4,744,392 were signed. In the second stage, another 67 apartments will be developed. At this stage of financing, the borrowed funds will be used by the company for further development of the project. The developer is currently investing EUR 1.5 million in the project. own funds.

Investors are pledged a 1.09 ha plot of land with foundations at Partizanu st. 34, Kaune. The foundations of the first stage have been cast on the land plot, currently the first floor ceilings are already installed on one of the foundations. Residential apartment buildings built on the mortgaged plot will also be mortgaged to investors. According to an independent real estate appraiser, the value of the mortgaged property is EUR 1,270,500. And the loan-to-value ratio (LTV) at this stage is only 63%.

The first phase of construction is planned to be completed by 2021. 04 months, after installing apartment buildings up to 80% completion. 100% of the construction works are scheduled to be completed in 2021. 12 months After the completion of the first stage – the construction works of the second stage will be started by the developer in 2021. 01 month

Maple house is a new construction project, energy A + class utility housing, which is designed taking into account the needs of the local climate and building users, therefore energy consumption is extremely low. The project is being developed at the junction of Dainava and Zaliakalnis districts, surrounded by trade, recreation, entertainment and leisure places, medical and educational institutions. The project will improve the well-being, equip outdoor musical instruments, fitness areas, a wooden house, an adventure track, fenced playgrounds. Picturesque rooftop terraces for relaxation. This project is being developed by CITUS, one of the TOP 5 real estate developers in Lithuania.

7.5% applies to investors of more than 10,000. Investors at all stages will be pledged the property with a primary mortgage.

Maximum planned amount of project financing: 3,000,000 Eur. The project is financed according to the current valuation of the mortgaged property until it reaches the set maximum LTV. 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 – 70%.

We plan to collect the accumulated amount within 7 days with the possibility to extend it to 21 days. without raising funds.

Project visualizations are also provided. More information about the project: www.klevunamai.lt

crowdfunding report 2023
Get our latest European Crowdfunding Market Report 2023

Our brand new report gives insights into the state of the crowdfunding market in general and goes in-depth regarding funding volumes, backer and fundraiser profiles, regulatory implications, technical challenges and more. Grab your copy, it's FREE!