- Extensive Experience: The project is being developed by a real estate developer with more than a decade of experience in the sale of residential properties.
- Additional Security: A private individual, the company's shareholder, provides an additional personal guarantee for the entire loan amount.
- Construction Progress: Building permits have been issued for all 8 land plots. The main masonry and floor structure works have been completed in 3 semi-detached houses (Saulės g. 6, 8 and 10), with all windows and exterior doors installed. The registered completion rate of the 6 apartments in these buildings is 58%. Additional roofing and some internal engineering works have been completed at Saulės g. 10. Foundations have also been installed on 2 other plots.
Interest Rates by Investment Amount:
– From 100 EUR to 349 EUR – 9.30%
– From 350 EUR to 749 EUR – 9.50%
– From 750 EUR to 2 499 EUR – 9.75%
– From 2 500 EUR to 7 499 EUR – 10.00%
– From 7 500 EUR – 10.30%
Important: Separate investments are not aggregated and cannot be combined.
About the Project:
The project owner is developing a residential complex of 8 semi-detached houses in Užliedžiai, Kaunas District. The project is being developed on 8 land plots with a total area of 71.98 ares. The development will comprise 8 semi-detached residential houses, providing a total of 16 apartments. The planned area of each apartment ranges from 87 to 92 m², with a total saleable area of approximately 1 408 m². All apartments will be completed to a partial finish standard and sold to end buyers.
Construction Progress:
Building permits have been issued for all 8 land plots. Currently, construction is at an initial stage on 3 plots. On 2 plots, semi-detached residential houses have been registered with a completion rate of 7%, according to the Real Estate Register (NTR). On the remaining 3 plots, the semi-detached houses have already been divided into 6 separate apartments, each measuring 89–90 m², with a registered completion rate of 58%. The main masonry and floor structure works have been completed in the semi-detached houses at Saulės g. 6, 8 and 10, with all windows and exterior doors installed. At Saulės g. 10, additional works have been completed, including roof installation and insulation, sewage system installation, electrical wiring and subfloor preparation. Underfloor heating has also been installed in one of the apartments (Saulės g. 10-1). Foundations have already been completed for the semi-detached houses at Saulės g. 2 and 4.
Sales Progress:
The project owner has already signed a preliminary sale and purchase agreement for the apartment at Saulės g. 10-1. The notarial transaction is scheduled for November 10. As the buyer is purchasing the property with the assistance of a subsidy, a registered completion rate of 100% is required for the transaction. Currently, the apartment's registered completion rate is 58%. The funds raised during this financing stage will be used to finance the completion works of the apartment at Saulės g. 10-1, with the aim of achieving a registered completion rate of 100% and enabling the planned property sale transaction.
Loan Information:
The loan will be repaid from apartment sales proceeds, while interest payments to investors will be covered by the company's operating income and advance payments received.
The maximum planned project financing amount is 1 400 000 EUR (284 280 EUR already raised). The project will be financed based on the current valuation of the pledged property until the established maximum loan-to-value (LTV) ratio is reached. Once the maximum LTV is reached, a new property valuation will be required. Further financing stages will only be launched and funded if the established maximum LTV ratio is not exceeded.
The scheduled loan agreement maturity date is 2028-07-13. Funds for the project may be raised in stages, and the duration of this financing stage is 12 months. Upon expiry of this stage, if necessary, the project may receive continued financing, meaning that funds may be raised through a new financing stage, without exceeding the final maturity date of the project loan agreement.
We plan to raise the target amount within 7 days, with the possibility of extending the fundraising period to 30 days if the target is not reached.
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.
