Taikos daugiabutis IIIProfitus
We present the third stage financing project – “Taikos daugiabutis”. The raised funds will be used for real estate development. The amount to be raised at this stage is EUR 75 600. This loan will be repay by the proceeds from the sale of the property.
About the project owner:
The project owner has experience in real estate development. Currently, it is implementing another project “Griežlės tributis” financed on the “Profitus” platform, and has already developed a similar cottage project (Rasos St. 13, Karzaku village, Kauno district).
The aim of the project:
The project owner is building a 389-square-foot, three-story apartment building with a parking lot on an 11.99-acre site. Apartments in the apartment building will be formed with an area of 26.71 – 58.40 square meters. The apartment building will comprise a total of 11 apartments. All apartments are already reserved, the sales revenue of the project will reach EUR 660 000.
Progress of the project:
From the first stage of financing, the owner of the project built all three floors of the apartment building, completed the construction and started the installation of the electrical installation. In the near future, it is planned to cover the roof, install windows and doors. These works are planned to be carried out until winter, so that in the cold period it is possible to carry out the installation of interior rooms up to partial decoration.
To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors, two plots of land with a total area of 1.2647 hectares are pledged at Taikos ave. 119B, Kaunas and Viaduko st. 7, Kaunas district. An additional conditional mortgage pledges an apartment building under construction at Taikos Ave. 119B, which is not yet registered. As soon as the apartament building is registered, it will be secured by a primary mortgage. According to an independent real estate appraisal, the value of real estate pledged to investors is EUR 288 000.
Maximum planned amount of funding for the project: EUR 280 000. The project is funded based on the current mortgage valuation until it reaches the maximum LTV set. When 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 100 EUR to 499 EUR – 9,5%
– From 500 EUR to 2 499 EUR – 10%
– From 2 500 EUR to 4 999 EUR – 10,5%
– From 5 000 EUR – 11%
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.