- Rapid construction progress: Since the last project phase, foundations for all buildings have been installed and the first-floor walls of two buildings have been built.
- Location: The developer is implementing a residential housing estate in a highly regarded area dominated by private houses. This location is attractive due to its proximity to Tartu city – only 7 km away.
- Sales: One of the eight apartments developed in this project has already been reserved.
- Developed projects: The project owner has already built and sold 3 semi-detached houses (a total of 6 apartments) in this neighborhood.
- Suretyship: This loan is additionally secured by a suretyship from "Osaühing TK Priority Asset Management".
Interest by investment amount:
– From EUR 100 to EUR 249 – 9.70%
– From EUR 250 to EUR 749 – 10.10%
– From EUR 750 to EUR 4 999 – 10.40%
– From EUR 5 000 EUR – 10.70%
Important: investments made separately are not aggregated and cannot be pooled.
About the Project:
The Project Owner is developing a residential estate in a well-regarded private residential area, 7 km away from Tartu city centre. 3 semi-detached houses (6 apartments in total) have already been built and sold in this development. The financing of this Project will be used for the development of three new residential houses (8 apartments in total).
- The residential building at 11 Rehetare tee will consist of 4 apartments of 146.4 m² each.
- Duplexes 13 and 15 in Rehetare tee will have a total of 4 apartments of 150.8 m² each.
- Each apartment will have its own garage of 19-22 m² sauna, terrace and balcony.
Project Progress:
The initial phase of the project, including site preparation and laying the foundations for all buildings, has been successfully concluded. Construction of the first-floor walls for buildings located at Rehetare tee 11 and 15 is underway. All apartment ownerships have been officially secured for the three land plots involved in the development. The project's estimated value has increased significantly from EUR 529,000 + VAT to EUR 685,000 + VAT.
Loan Information:
This loan will be financed by the sales proceeds from the developed project. The expected sales revenue for all 8 apartments is 1,958,000 EUR including VAT. Interest payments to investors will be made from the operating income of the project owner.
Maximum amount to be financed: EUR 1,000,000 (EUR 290,900 already raised). The project is financed based on the current valuation of the collateralized property until it reaches the specified maximum loan-to-value (LTV) ratio. Upon reaching the maximum LTV, a new property valuation will have to be performed, and further project financing stages will be announced and collected only if the specified maximum LTV is not exceeded.
The project has a timeframe of 7 month, but no longer than 2025-05-14.
We plan to raise the amount within 7 days, with the option of extending it to 30 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.
