Pazaislio namai VI

We present new phase of phased financing project – „Pazaislio namai VI”. The raised funds will be used for the development of real estate. The amount to be raised at this stage is EUR 61 000.

About the project owner:
The project owner has developed more than 2 600 square metres of projects. Developer has the status of a reliable real estate developer and together with PROFITUS developed the project „Pazaislio apartamentai”, whose investments have already been returned to investors. His other project „Gedimino 2″ in Palanga, also developed together with PROFITUS. In all phases of this project, the investors were paid interest on time. The investments have also been repaid.

The aim of the project:
The owner of the project is building a 1 323 square meter apartment building with an underground parking plot and bicycle storage areas on a 0.5564 hectares plot of land (adjacent to his developed project „Pazaislio apartamentai”). A total of 24 apartments will be formed in the apartment building, the areas of which will be 34-63 square meters. The apartments are planned to be sold with partial decoration. The income from the sale of all apartments, parking spaces and bicycle storage areas will amount EUR 2 400 000. 

Progress of the project:
According to the Centre of Registers, currently completeness is 25% registered, 38% real according to the work already done. 2 apartments are reserved. The funds mobilised in the last phases are being used to complete the structural works of the building, to lay the water supply and sewerage system, to install the electrical wiring, to prepare the underfloor heating, and to lay the base for the parking lot. The project owner will use the funds raised in this phase to continue the construction works.

Maximum planned amount of funding for the project: EUR 1 300 000 (EUR 471 100 already raised). 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. The loan-to-value ratio (LTV) without VAT at this stage – 72%.

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

Interest by investment amount:
– From EUR 100 to EUR 499 – 10.2%
– From EUR 500 to EUR 999 – 10.7%
– From EUR 1 000 to EUR 1 999 – 10.95%
– From EUR 2 000 to EUR 4 999 – 11.2%
– From EUR 5 000 to EUR 9 999 – 11.7%
– From EUR 10 000 – 12.2%
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.