- Construction progress: Construction is actively progressing in both apartment buildings. According to the property valuer, the actual completion of the building at Mielavos St. 16 is approximately 66%, while Mielavos St. 20 is approximately 23%. Interior fit-out and landscaping works are already underway in the first apartment building, while the main structural elements have been completed in the second.
- Strong buyer interest: Of the 32 apartments available for sale across both buildings, 28 have already been reserved, i.e. 87.5%. There are 4 unreserved apartments remaining, with agreements already being negotiated for 3 of them.
- Additional security: The company’s manager and shareholder, a natural person, provides an additional personal guarantee for the entire loan amount.
Interest rates based on investment amount:
– From EUR 100 to EUR 299 – 8.80%
– From EUR 300 to EUR 699 – 9.00%
– From EUR 700 to EUR 1 999 – 9.20%
– From EUR 2 000 to EUR 4 999 – 9.40%
– From EUR 5 000 – 9.60%
Important: separate investments are not aggregated and cannot be combined.
About the Project:
A residential development consisting of 9 apartment buildings, “Triušelių butai”, is being developed on a 1.5 ha land plot in Trušeliai village, Klaipėda district. The project owner holds a 200/507 share of this land plot, corresponding to an area of 60 ares, where 5 residential apartment buildings are planned to be developed in stages.
The funds from this loan will finance two apartment buildings being constructed on the part of the land plot owned by the project owner – at Mielavos St. 16 and Mielavos St. 20. Both buildings are three storeys high, with a total usable area of 1 998 m². A total of 32 apartments are planned – 16 in each building. Apartment sizes range from 34.66 m² to 95.16 m². Parking spaces planned next to the buildings are included in the apartment sale price.
Construction works on the project have progressed significantly. According to the property valuer, the actual completion of the apartment building at Mielavos St. 16 is approximately 66%, while the completion registered in the Real Estate Register is 29%. Facade works have been completed, internal partitions and walls have been installed, and staircase structures have been completed. Electrical installation works are currently underway, internal water supply and sewage pipelines are being installed, and partial fit-out, landscaping and site improvement works are being carried out.
According to the property valuer, the actual completion of the apartment building at Mielavos St. 20 is approximately 23%, while the completion registered in the Real Estate Register is 22%. The building’s external walls have already been built, reinforced concrete structural elements and wall structures have been installed. Separate rooms, the staircase, corridor area and passageways have been formed inside the building.
The project is attracting particularly strong buyer interest. Of the 32 apartments available for sale across both buildings, 28 have already been reserved, i.e. 87.5% of all apartments. There are currently 4 unreserved apartments remaining, with agreements already being negotiated for 3 of them.
The funds raised will be used for the further development of the apartment buildings at Mielavos St. 16 and Mielavos St. 20.
Loan information:
The loan will be repaid from property sale proceeds, while interest to investors will be paid from advance payments. The total projected sales revenue of the project is EUR 2 889 033. The project loan agreement is valid until 2028-03-02. 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, continued project financing may be carried out, i.e. funds for the project may be raised through a new financing stage, without exceeding the final term of the project loan agreement – 2028-03-02.
Maximum planned project financing amount: EUR 1 500 000 (EUR 600 000 already raised). The amount may be raised in stages. The project is 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 must be carried out, and further financing stages of the Project will be announced and funded only if the established maximum LTV is not exceeded.
We plan to raise the target amount within 7 days, with the possibility of extending the fundraising period up to 30 days if the funds are not raised.
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.
