We present the sixth stage of the staged financed project "T12”. The raised funds will be used for the development of the RE project. The amount to be raised at this stage is EUR 48 000.
About the project:
T12 - is a project of prestigious, exclusive, and luxurious apartments being developed in the central part of Kaunas. The apartment building will be developed in a very beautiful part of the city - on the slope of Totoriu street. Thanks to the plot's location and the apartment building's position, future residents will be able to enjoy both the wonderful panorama of the city of Kaunas and the green slope from the eastern side. With a short five-minute walk, you can reach Freedom Avenue, and after sitting in a car, you can reach Karalias Mindaugas Avenue in the same period of time. On sunny days, residents will be greeted by Ramybes Park on the adjacent street. The project will have eight apartments over three floors, and two exceptionally luxurious penthouse apartments will be installed at the top of the building.
The aim of the project:
The project owner has been working on this project since 2016. Six years ago, the company's shareholder bought a wooden three-apartment house built in 1920 and a plot on Tororiu st. 12, Kaunas. During this period, he prepared the project and coordinated it with the public and the city municipality until, finally, in December 2022, he received a building permit for the construction of an apartment building. In the last two months, after receiving the construction permit, the project's owner renewed the terms and prices of the supply and production of materials and components and start construction work. The development works of the project are expected to be completed by the end of the second quarter of 2024. At the moment, one preliminary apartment purchase-sale agreement has been concluded, and active negotiations are being conducted for two more apartments. The total sales revenue of the project will reach around EUR 6 500 000. See the financial part of the project in more detail.
To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors plot with a building permit is pledged, at Totoriu st. 12, Kaunas. Also as a conditional mortgage, a building under construction - an apartment building will be pledged with a first-line mortgage as soon as it is registered. According to an independent real estate appraiser, the value of the property pledged to investors is EUR 634 000.
The maximum planned amount of funding for the project: is EUR 3 000 000. The project is funded based on the current mortgage valuation until it reaches the maximum LTV set. When the maximum LTV is reached, a new valuation of the property will be required and further project funding stages will be announced and collected only if the maximum LTV set is not exceeded.
Interest by investment amount:
- From EUR 100 to EUR 499 - 8.5%
- From EUR 500 to EUR 2 499 - 9%
- From EUR 2 500 to EUR 4 999 - 9.5%
- From EUR 5 000 - 10%
Important: investments made separately are not aggregated.
We plan to collect the accumulated amount within 7 days with the possibility to extend it to 21 days without raising 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.
