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Palepe S63

Profitus
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100 %
  • Status funded
  • Goal 118,000 EUR (€)
  • Raised 118,000 EUR (€)
  • Investors 136
  • Interest rate 9%
  • Loan To Value(LTV) 69%
  • Credit Duration 5 month

We present a new financing project – “Palepe S63”. The funds raised will be used to refinance an existing loan. This decision will give the project owner time to complete the construction work and fulfill the existing obligations. The amount to be raised is EUR 118 000.

About the project owner:
The project owner has many years of experience in real estate development. Previously, funded and successfully implemented 1 similar attic reconstruction project on the Profitus platform.

The aim of the project:
The project owner will use the raised amount to refinance the existing loan. This loan will be repaid from the proceeds of the sale of the real estate. This decision will give the project owner time to complete the construction work.

About the project:
“Palepe S63” is a project in Vilnius, on the left bank of the Neris, near Vingis Park. Strategically convenient location to reach any point of the city on foot, by public transport or by car. 5 loft-type apartments have been installed in the premises. The area of each loft – 50 square meters. The estimated selling price is EUR 1 980 per square meter. The planned sales revenue for the entire project is more than EUR 450 000.

To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors, a 217.73 square meter shelter premises in a brick house is pledged at Savanoriu ave. 63-6A, Vilnius. According to an independent real estate appraiser, the value of the mortgaged property is EUR 173 000.

Interest by investment amount:
– From EUR 100 to EUR 499 – 9%
– From EUR 500 to EUR 3 999 – 9,5%
– From EUR 4 000 – 10%
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.

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