We present the new stage of the phased financing project – „P00000722-18". The raised funds will be used to develop the property and refinance the existing loan. The total development period of the project is envisaged to be 24 months. The project commenced development in October 2022 and is on schedule. Part of the funds mobilised for Phase Eighteenth were earmarked for the refinancing of Fourth Phase. The amount to be raised at this stage is EUR 102 000.
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 90-97 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. The planned sales revenue for the entire project is about EUR 4 600 000 with VAT.
Project progress:
According to the data of the Centre of Registers, the largest registered completeness of the apartments is 87%. 3 apartments have already been sold. The project owner will use the funds raised in this phase to refinance the existing loan.
The maximum financed amount: EUR 2 500 000 (EUR 1 930 050.49 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) with VAT at this stage is 64%.
Risk category (probability of default) of this project: 7/12.
Interest by investment amount:
– From EUR 100 to EUR 499 – 10.9%
– From EUR 500 to EUR 999 – 11.4%
– From EUR 1 000 to EUR 1 999 – 11.65%
– From EUR 2 000 to EUR 7 499 – 11.9%
– From EUR 7 500 to EUR 14 999 – 12.4%
– From EUR 15 000 – 12.9%
Important: investments made separately 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.
About the Profitus
Profitus is a crowdfunding and investment platform whose main goal is to make investment available to everyone. Investments start at 100 euros, and the platform is open 24/7. Investments are secured by pledging real estate and other collateral (e.g., indemnity or warranty). Different projects have different security tools that users can access in self-service for each project.
Profitus consults with the Bank of Lithuania in order to ensure perfect compliance with the law. Monetary operations on the platform are carried out in cooperation with Paysera and Trustly. The risk relating to the project and project owner are assessed on the basis of information provided by Creditinfo.
