Pasiles namai XProfitus
We present the new stage of the phased financing project „Pasiles namai X”, the funds of which will be allocated to the development of the real estate. The amount raised at this stage is EUR 440 000.
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.
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, the fences and terraces were installed. After the last phase, all the work on the exterior facade has been completed: wall insulation, exterior tiling and interior finishing works have started.
To ensure the interests of investors, real estate is pledged with a primary mortgage:
As a security measure to protect investors’ interests, 17 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 Pasiles St., Vilnius District. According to an independent real estate appraiser, the value of the pledged real estate is EUR 3 028 000.
The maximum financed amount is EUR 2 500 000 (EUR 1 533 900 already raised). 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 56%.
Interest according to the size of the investment:
– From EUR 100 to EUR 999 – 10%
– From EUR 1 000 to EUR 2 999 – 10,5%
– From EUR 3 000 to EUR 6 999 – 11%
– From EUR 7 000 to EUR 24 999 – 11,5%
– From EUR 25 000 – 12%
Important: individual investments are not cumulative.
We plan to raise the amount within 7 days, with the option of extending it to 21 days if we do not raise funds.