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Pasiles namai XVI

Profitus
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100 %
  • Status funded
  • Goal 50,000 EUR (€)
  • Raised 50,000 EUR (€)
  • Investors 8
  • Interest rate 10.5%
  • Loan To Value(LTV) 70%
  • Credit Duration 10 month

We present the new stage of the phased financing project – „Pasiles namai XVI”.  The owner of the project will use the pooled amount for real estate development. The amount to be raised is EUR 50 000.

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 or full finishing. 2 apartments are already sold. The planned sales revenue for the entire project is about EUR 3 800 000.

Project progress:
According to the data of the Centre of Registers, the registered completeness of the apartments is 87%. 2 apartments have already been sold. Preliminary sale and purchase contracts have been signed with 4 buyers. The estimated sales revenue is EUR 1 020 000 including VAT. The project owner will use the funds raised in this phase to continue the finishing works.

The maximum financed amount: EUR 2 500 000 (EUR 1 939 750.16 Existing active portfolio). 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) without VAT at this stage is 65%.

Risk category (probability of default) of this project: 7.

Interest by investment amount:
– From EUR 100 to EUR  499 – 10.5%
– From EUR 500 to EUR 999 – 11%
– From EUR 1 000 to EUR 1 999 – 11,25%
– From EUR 2 000 to EUR 4 999 11.5%
– From EUR 5 000 to EUR 9 999 – 12%
– From EUR 10 000  12.5%
Important: Individual investments are not aggregated and cannot be pooled.

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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