- Experienced developer: The project owner has extensive experience in real estate development (since 2008) and has completed projects with a total area of approximately 3,000 m².
- Secured sales: Of the 7 homes being developed in the Mažosios Lietuvos St. / Nadruvos St. residential quarter, only 3 remain unsold, and all of them have already been reserved.
- Liquidity: The pledged property is located in the city of Šiauliai – both the project being developed on Mažosios Lietuvos St. / Nadruvos St. and the additional group of land plots in the Jotvingių St. / Žiemgalių St. quarter. The properties are located in residential areas with well-developed infrastructure and asphalt access roads, close to the city centre (~4 km), which supports demand for individual houses and enhances the liquidity of the property.
About the Project:
The project owner is developing a residential quarter of individual houses in stages on Mažosios Lietuvos St. / Nadruvos St. in Šiauliai. Of the 7 homes being developed in this quarter, only 3 remain unsold, and all of them have already been reserved. Since the previous financing stage, at Mažosios Lietuvos St. 6D, Šiauliai, the walls have been erected, the roof has been installed, the floors have been concreted, and interior partition installation works are underway.
The funds raised during this financing stage will be used for further project development works. Expected sales revenue from the property under development – EUR 539,917.
Loan Information:
The loan is expected to be repaid from sales proceeds once the final notarized contracts are signed with buyers who have already placed reservations, or by refinancing the loan. Interest will be paid from the company’s working capital.
Maximum planned project financing amount: EUR 400,000 (EUR 369,000 already raised). The amount may be raised in stages. The project is financed based on the existing 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 will have to be carried out, and further financing stages of the Project will be announced and funded only if the established maximum LTV is not exceeded.
We plan to raise the required amount within 7 days, with the possibility of extending the fundraising period up to 30 days if the funds are not fully 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.
