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Namai Moluvenu g. VI

Profitus
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53 %
  • Status active
  • Goal 64,000 EUR (€)
  • Raised 33,922 EUR (€)
  • Investors 90
  • Interest rate 10.5%
  • Loan To Value(LTV) 70%
  • Credit Duration 12 month

We present the new stage of the phased financing project – Namai Moluvenu g. VI”. The owner of the project will use the pooled amount to develop the property and refinance the existing loan. The total development period of the project is envisaged to be 36 months. The project commenced development in October 2022 and is on schedule. Part of the funds mobilised for the sixth phase were earmarked for the refinancing of the first phase. The amount to be raised is EUR 64 000.

About the project owner: 
The developer has a lot of experience, having developed about 4 thousand square meters (as a manager) and about 6 thousand square meters of real estate projects under the company’s name. The developer developing the project previously received financing on the Profitus platform and implemented as many as 9 real estate projects. Projects were successfully completed, and investors were settled on time.

About the project:
The owner of the project will develop the construction of 3 semi-detached houses, a total of 6 apartments, on the purchased plots of land. Semi-detached houses will have an area of 250.28 square meters, A+ energy class and two stories. Each apartment will own a 0.066 hectares plot of land. Semi-detached houses will be sold partially finished. The planned sales revenue of the entire project is about EUR 1 254 000.

Project progress:
The owner of the project at 3 Moluvenu St. has used the funds raised in previous phases to concrete the stairs, install electricity, water supply, sewage, insulate the floors with polystyrene, install underfloor heating, and plaster the walls and partition walls. In the house at 5 Moluvenu Street, the walls of the 1st floor were bricked up, internal partitions and windows were installed, electricity was installed and the stairs were concreted. In the house at 7 Moluvenu Street, electricity was installed, the foundations were insulated, internal partitions and slabs were installed, the stairs were concreted and the roof structure was installed.

The maximum financed amount is EUR 510 000 (EUR 303 000 already raised). The project is financed according to the current valuation of the mortgaged property until it reaches the set maximum LTV of 70%. Once the maximum LTV is reached, a new valuation of the property will have to 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 ratio (LTV) with VAT at this stage is 60%.

Interest by investment amount:
– From EUR 100 to EUR  999 – 10.5%
– From EUR 1 000 to EUR 4 999 – 11%
– From EUR 5 000 to EUR 9 999 – 11.5%
– From EUR 10 000  12%
Important: individual investments are not cumulative.

We plan to raise the amount within 7 days, with the option of extending it to 21 days if we do not raise funds.

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