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Pasiles 34-1 II

Profitus
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100 %
  • Status funded
  • Goal 24,500 EUR (€)
  • Raised 24,500 EUR (€)
  • Investors 80
  • Interest rate 9%
  • Loan To Value(LTV) 70%
  • Credit Duration 12 month

We present the new phase of the phased financing of the project Pasiles 34-1 II”. The funds will be allocated to the development of real estate. The amount to be raised at this stage is EUR 24 500.

About the project owner:
The developer has a lot of experience – he has developed about 4 000 square meters (as a manager) and another 6 000 square meters of real estate projects on behalf of the company. The group of companies of the developer developing the project has previously received financing on the Profitus platform and implemented as many as 9 real estate projects. Projects were successfully completed, investors were settled on time.

The aim of the project:
The owner of the project will allocate the raised amount to the refinancing of the available loan and to the furnishing of the 90.99 square meter apartment in a semi-detached house with all necessary furniture and equipment. After the completion of the fitting-out works, the semi-detached apartment will be for sale. Estimated sale proceeds EUR 265 000. The sale proceeds will be used to repay this loan.

Project progress:
After the first phase, interior fitting–out work started. According to the Centre of Registers, the registered completion of the house is currently 90%.

To secure the interests of investors, real estate is pledged with a primary mortgage:
To ensure the interests of investors, an apartment of 90.99 square meters in a semi-detached house and 2 plots of land with a total area of 6.15 acres are pledged at Pasiles st. 34 – 1, Vilnius district. According to an independent real estate appraiser, the value of the property pledged to investors is currently EUR 214 000.  

Maximum planned amount of funding for the project: EUR 150 000 (EUR 106 400 already raised). 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.

Interest by investment amount:
– From 100 EUR to 499 EUR – 9%
– From 500 EUR to 2 999 EUR – 9.5%
– From 3 000 EUR – 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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