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Pasiles namai II

Profitus
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100 %
  • Status funded
  • Goal 207,200 EUR (€)
  • Raised 207,200 EUR (€)
  • Investors 316
  • Interest rate 9.5%
  • Loan To Value(LTV) 70%
  • Credit Duration 12 month

We present the second stage of the phased financing project “Pasiles namai”. The project funds will be allocated for the development of real estate. The amount to raised at this stage is EUR 207 000.

About the borrower: 
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 previously received financing on the Profitus platform and has completed 9 real estate projects. Projects were successfully finished, and investors were paid back on time.

About the project:
The owner of the project is developing the construction of 9 semi-detached houses, a total of 18 apartments. Apartments in semi-detached houses will have an area of 92-93 square meters, A++ energy class and one floor. Each apartment will own a 5-acre plot of land. Semi-detached houses will be sold partially finished. The planned sales revenue of the entire project is about EUR 3 800 000.

Progress of the project:
Since the first stage of financing, facade clinker gluing works have been carried out in many houses in the project, roof covering has been installed, internal walls and partitions have been plastered, internal water pipes have been laid out, heating pipes, floors have been concreted, and windows have been installed.

To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors, 9 plots of land with a total area of about 90 ares and 1 656 square meter 9 semi-detached houses are pledged at Pasiles st., Vilnius district. According to an independent real estate appraiser, the value of the property pledged to investors is EUR 1 267 000.  

Maximum planned amount of funding for the project: EUR 2 500 000. 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.

Interest by investment amount:
– From 100 EUR to 499 EUR – 9,5%
– From 500 EUR to 2 999 EUR – 10%
– From 3 000 EUR to 9 999 EUR – 10,5%
– From 10 000 EUR to 24 999 EUR – 11%
– From 25 000 EUR – 11,5%
Important: investments made separately are not aggregated.

We plan to collect the accumulated amount within 7 days with the possibility to extend it to 21 days without raising funds.

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