Pašilės namai VIProfitus
We present the sixth stage of the phased financing project “Pasiles namai”, the funds of which will be allocated to the development of the real estate. The amount collected at this stage is 70,000 euros.
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 is developing the construction of 9 two-apartment houses, for a total of 18 apartments. Apartments in two-room houses will have an area of 92-93 square meters, an A++ energy class, and one floor. Each apartment will own a 5-acre plot of land. Semi-detached houses will be sold partially furnished. The planned sales revenue for the entire project is about 3,800,000 euros.
Progress of the project:
Since the first stage of financing, facade clinker gluing works have been completed in seven houses in the project, roof covering has been installed, internal walls and partitions have been plastered, internal water supply, windows, the heating system, rain drainage pipes and heating pipes have been installed, floors have been concreted, internal walls have been plastered. At the moment, the work of installing the fence and the terrace is being continued, and preparations are being made for the laying of paving stones.
To ensure the interests of investors, real estate is pledged with a primary mortgage:
As a security measure to protect investors’ interests, 9 plots of land with a total area of about 90 acres are pledged, and the construction of 9 two-family houses with a total area of 1,656 square meters has begun, at the address Pašilės St., Vilnius District. According to an independent real estate appraiser, the value of the pledged real estate is EUR 2,137,000.
The maximum financed amount is 2,500,000 euros (1,080,900 euros have already been mobilized). 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) at this stage is 54%.
Interest according to the size of the investment:
– From EUR 100 to EUR 499 – 10%
– From EUR 500 to EUR 1,999 – 10.5%
– From EUR 2,000 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 collect the collected amount within 7 days, with the possibility of extending it until the 21st. without fundraising.