U16

We present a new financing project – “U16”. The funds raised will be used for the acquisition of real estate. The amount to be raised is EUR 59 000. This loan will be reapaid by the proceeds from the sale of the property.

About the project owner:
The project owner has many years of experience in real estate development. Previously, Profitus funded and successfully implemented 1 similar attic reconstruction project on the platform. He is currently implementing other projects funded by the platform, “S63 loftai” and “Butai Kestucio 5” in Vilnius.

The aim of the project:
The owner of the project intends to purchase an apartment and an attic in the prestigious and infrastructurally developed Vilnius district – Uzupis. The purpose of the attic is currently non-residential, but it is planned to change it to a residential one soon. It is planned to reconstruct the apartment in the project, and to install 3 more apartments in the attic. The planned revenue from the sale of all apartments is EUR 789 000. Work is scheduled to begin in March.

To ensure the interests of investors, a real estate secondary mortgage is pledged:
To protect the interests of investors, an attic and an apartment with a total area of 211.97 square meters are pledged at Uzupio st.16, Vilnius. According to an independent real estate appraiser, the value of the mortgaged real estate is EUR 363 000.

Important: The property will be mortgaged with secondary mortgage. The existing primary mortgage is administered by Profitus, so all investments are protected. Secondary mortgage LTV – 80%.

We plan to raise the amount within 7 days, with the option of extending it to 21 days if we do not raise funds.