Radastu namai VIIIProfitus
We present the eith stage of the phased financing project “Radastu namai”. The funds of this stage will be used for the refinancing of the sixt stage of the project. The amount to be raised at this stage is EUR 700 000.
About the project:
The quarter will consist of residetal houses and semi-detached houses, it is estimated that there will be a total of 52 apartments, the area of each apartment will reach about 120 square meters. Infrastructure will be developed in the newly built quarter – asphalt will be laid, street lighting poles and green areas will be installed. The project will be developed in stages, during the first stage it is planned to start the construction of 6-10 semi-detached houses. The estimated selling price with partial finishing per square meter will start at EUR 1 400.
About the project owner:
The project developer has experience in developing real estate projects of a similar nature – he has developed projects of more than 3 000 square meters.
Progress of the project:
Currently, the 339.19-acre land plot, which the project owner purchased in July 2021 with financing on the Profitus platform, is divided into separate land plots. Now the territory consists of 26 plots of land suitable for the construction of semi-detached houses, green areas and an infrastructural-road plot of land. Project proposals and other necessary documentation for obtaining building permits are currently being prepared. The construction works of the additional property located on Kastonu st. have been completed, its registered completion is 100%. The object has been rented since January of this year and generates a constant rental income.
To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors, 28 land plots with a total area of 333.19 ares and a 17.23 ares land plot with an administrative building of 980.59 square meters are pledged in Kaunas district. The registered completion of the building is 100%. According to an independent real estate appraiser, the value of the mortgaged real estate is EUR 1 835 600.
The maximum amount financed is EUR 3 000 000. The project is financed according to the current valuation of the mortgaged property until it reaches the set maximum LTV – 70%. Once the maximum LTV is reached, a new valuation of the property will have to be performed and further stages of the Project financing will be announced and collected only if the set maximum LTV is not exceeded. The loan-to-value ratio (LTV) in this phase 47%.
Interest by investment amount:
– From EUR 100 to EUR 999 – 9,5%
– From EUR 1 000 to EUR 9 999 – 10%
– From EUR 10 000 to EUR 24 999 – 11%
– From EUR 25 000 to EUR 49 999 – 12%
– From EUR 50 000 – 13%
Important: investments made separately are not aggregated.
We plan to raise the amount within 7 days, with the option of extending it to 21 days if we do not raise funds.