- Competitive advantage: There are currently almost no new or modernly reconstructed apartment building projects in Telšiai, therefore “Fenikso namai” occupies a rare niche in the local market and has a clear competitive advantage.
- Smooth progress of works: Construction is being carried out consistently, ensuring steady progress. Since the previous stage, windows on the first and second floors have been installed, staircases and landings in both stairwells have been concreted, the third-floor wall framework has been installed, and roof framework installation works have begun.
- Experienced developer: The project owner has successful experience in residential development in Telšiai, has a strong understanding of the local market, and is well aware of buyer needs.
Interest rates based on investment size:
– From 100 EUR to 349 EUR – 8.50%
– From 350 EUR to 749 EUR – 8.75%
– From 750 EUR to 2 499 EUR – 9.00%
– From 2 500 EUR to 7 499 EUR – 9.25%
– From 7 500 EUR – 9.50%
Important: individual investments are not aggregated and cannot be combined.
Project objective:
“Fenikso namai” is a newly developed quarter of two modern three-storey apartment buildings in the city of Telšiai. The project is implemented by reconstructing former Youth School buildings and adapting them for residential use, changing their purpose to multi-apartment residential buildings. The phoenix is a symbol of rebirth, which precisely reflects the idea of the project: a formerly abandoned area is revived into modern housing. The quarter is oriented towards contemporary, safe, and comfortable living quality in Telšiai, creating a convenient residential environment close to city infrastructure.
The project owner acquired the property in early 2021 through a public auction together with the land plot, former kindergarten/school buildings, and other engineering structures. Later, the plot was divided into six parts: one was sold, while the remaining major part – 57.16 ares – was selected for the main development of the quarter. In July 2025, a construction permit was obtained to reconstruct the existing buildings and change their purpose to multi-apartment residential buildings. The buildings, previously connected by a gallery, have already been separated into two blocks.
Both blocks are designed as three-storey buildings, additionally adding a third floor; their total areas are 1 492.82 m² and 1 494.19 m². Each building will have 20 apartments (40 in total), and the layouts of the first and second floors in both blocks will be identical: 8 apartments per floor and 4 apartments on the third floor. Apartments are planned to have 2–4 rooms, ranging from 41–129 m², tailored to different buyer needs – from compact family homes to more spacious options for those seeking higher comfort. Basements will include storage units, bicycle storage, and technical rooms, while the territory will provide 47 above-ground parking spaces.
Construction has been actively ongoing since August 2025. Since the previous stage, first and second floor windows have been installed. Staircases and landings in both stairwells have been concreted. The third-floor wall framework has been installed, and roof framework installation works have started.
Signing of preliminary sale–purchase agreements is planned to begin in Q2 2026. Completion of construction and the notarial transaction stage are scheduled for autumn 2026 – apartments will be offered and sold with partial finishing, and the buildings will be registered with 100% completion.
Loan information:
The loan will be repaid from property sales revenues, which are expected to reach 1 549 577 EUR. Interest to investors will be paid from advance payments.
Maximum planned project financing amount: 700 000 EUR (250 000 EUR already raised). The amount may be raised in stages. The project is financed based on the current valuation of the pledged assets until the established maximum loan-to-value (LTV) ratio is reached. Once the maximum LTV is reached, a new property valuation must be carried out, and further project financing stages will be announced and collected only if the set maximum LTV is not exceeded.
We plan to raise the target amount within 7 days, with the possibility to extend up to 30 days if the funds are not fully collected.
About the Profitus
Profitus is a crowdfunding and investment platform with a minimum investment of 100 euros. Profitus investments are secured by real estate mortgages, Your investment is secured by a first or second mortgage on the property, as well as by other collateral (e.g. a surety or guarantee). Transactions are managed through Lemonway, a regulated payment service provider.
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. Profitus operates with Lemonway, a regulated payment service provider.
