We present the fifth stage of the phased financing project - "Naujakuriu daugiabutis Kaune". The amount to be raised at this stage is EUR 80 000. This loan will be covered from the company's operating income and real estate sales.
Project owner:
The project owner has experience in real estate development. Has implemented 4 different construction projects with a total area of 4 700 square meters.
The aim of the project:
The project owner plans to build two apartment buildings with a total area of 2 247.5 square meters with a planned closed parking lot. The apartment buildings will have apartments of 50-75 square meters. One apartment building will consist of 18 apartments, the other - 15. The apartments are planned to be sold with partial finishing. Revenue from the sale of all apartments will amount to EUR 4 200 000.
Progress of the project:
The developer allocated the project funds collected in the previous stages (EUR 185 000) for the refinancing of existing loans, paid the designer, infrastructure fee, advance payments for materials (foam, bricks, blocks, wool), advanced payment for overlays. The collected funds of the last stage (EUR 35 000) were intended for settlement with the architect (for correction of the project), advance payments were made for part of the building materials, floor slabs, blocks, the plot of land was prepared for construction works.
To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors a plot of land with an area of 33.80 ares is pledged at Naujakuriu st. 118, Kaunas. According to an independent real estate appraiser of UAB "Ober-Haus", the value of real estate pledged to investors is EUR 600 000.
Maximum planned amount of funding for the project: EUR 1 400 000. The project is funded based on the current mortgage valuation until it reaches the maximum LTV set. When maximum LTV is reached, a new valuation of the property will be required and further project funding stages will be announced and collected only if the maximum LTV set is not exceeded. LTV at this stage - 50%.
Interest by investment amount:
- From 100 EUR to 499 EUR – 10%
- From 500 EUR to 4 999 EUR – 10,5%
- From 5 000 EUR to 9 999 EUR – 11%
- From 10 000 EUR – 12%
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.
