- Long-term experience: The Project is being developed by a real estate developer with more than a decade of experience in the development of residential real estate projects.
- Additional security: An additional guarantee for the entire loan amount is provided by a private individual – the company’s shareholder.
- Construction progress: All building permits for the Project have already been issued, preparatory works have commenced on all plots, and construction of semi-detached houses is actively underway on three plots – foundations have been installed and masonry works completed. The registered completion level of the buildings under construction has reached 26%.
Interest rates according to the investment amount:
– From 100 EUR to 999 EUR – 8.00%
– From 1 000 EUR to 3 499 EUR – 8.20%
– From 3 500 EUR – 8.40%
Important: separate investments are not cumulative and cannot be combined.
About the Project:
The Project owner continues the development of an 8 semi-detached residential house quarter in Užliedžiai village, Kaunas district. The Project is being developed on 8 land plots with a total area of 71.98 ares. The quarter is planned to consist of 8 semi-detached residential houses, i.e. a total of 16 apartments. The projected area of each apartment ranges from 87 to 92 m², while the total saleable area will amount to approximately 1 408 m². All apartments will be built with partial finishing and sold to end buyers.
Since the previous financing stage, significant progress has been achieved in the Project. Building permits have already been issued for all land plots and preparatory construction works have commenced – surface soil removal has been completed and preparations for foundation installation are underway. Construction of 3 semi-detached houses has already started on three land plots – foundations have been installed, masonry works completed, and roof structure installation is planned to begin shortly. Currently, the registered completion level of the 3 semi-detached houses under construction in the State Enterprise Centre of Registers has reached 26%, while according to the independent property valuation report, the completion level of the buildings under construction on the valuation date amounted to 24%.
The funds raised during this financing stage will be allocated to further construction works – foundation, masonry and roof structure installation works, engineering network installation, and other Project development works.
Loan information:
The loan will be repaid from apartment sales revenues, while interest to investors will be paid from the company’s operating income and received advance payments.
The maximum planned Project financing amount is 1 400 000 EUR. The Project is financed based on the current valuation of the pledged assets until the established maximum loan-to-value (LTV) ratio is reached. Upon reaching the maximum LTV, a new property valuation must be carried out and further Project financing stages will only be announced and collected if the established maximum LTV is not exceeded.
We plan to raise the target amount within 7 days, with the possibility to extend the funding period up to 30 days if the amount is not 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.
