- Experienced Real Estate Developer: The project owner has a successful track record in developing various types of properties, from single-family homes to multi-apartment buildings, in Kaunas and surrounding areas. Completed projects cover approximately 10,700 m².
- Sales: The properties are 85% complete with partial finish. Currently, 7 preliminary purchase-sale agreements have been signed.
- Liquidity: The mortgaged property is located in Giraite, Kaunas district. Giraite is a dynamically developing settlement with convenient transportation, a growing community, and active construction.
- Actual Completion: Construction works on the apartment buildings are currently halfway completed – over 70% actual completion has been reached.
About the Project:
A multi-apartment residential building construction project is being developed in Kaunas district, Uzliedziai eldership, Giraite village, on Ugniazoliu street. The project consists of two stages. The size of the apartments in the first and second construction stages ranges from 45 to 90 m². The first stages of the project, comprising 18 apartments, has already been successfully completed, with 2 preliminary sales contracts signed. The registered completion according to the Register Centre data is 74-95%. During the second stage, it is planned to develop 60 apartments, and the construction of 12 apartments has already begun. The registered completion of the 2nd stage is 9%, and the actual completion is 70%. 5 preliminary purchase and sale agreements have been signed.
Project Progress:
The project aims to refinance the existing commitment and continue the development work. Stage 1 started in September 2022, is completed and the apartments are for sale. Construction works are scheduled to be completed in August 2025.
Loan Information:
This loan will be covered by the project's sales revenue, which is estimated to reach 9,566,500 EUR including VAT. Interest to investors will be paid from the project owner's operating income.
The maximum planned project financing amount is 4,000,000 EUR. The project is financed according to the current valuation of the mortgaged property until it reaches the established maximum loan-to-value (LTV) ratio. Upon reaching the maximum LTV, a new property valuation will have to be performed, and further stages of project financing will be announced and collected only if the established maximum LTV is not exceeded.
Interest by investment amount:
– From 100 EUR to 299 EUR – 9.70%
– From 300 EUR to 999 EUR – 10.00%
– From 1 000 EUR to 4 999 EUR – 10.30%
– From 5 000 EUR to 14 999 EUR – 10.60%
– From 15 000 EUR to 49 999 EUR – 11.00%
– From 50 000 EUR – 11.40%
Important: investments made separately are not aggregated and cannot be pooled.
We plan to raise the amount within 7 days, with the option of extending it to 30 days if we do not raise 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.
